2. DO NOW The last item you purchased was__________. What motivated you to purchase that item?

3. MARKETING STRATEGY A company’s plan that identifies how it will use marketing to achieve its goals SLIDE 3

4. MARKETING STRATEGY Marketing planning Marketing planning is aimed at satisfying customer needs better than competitors do. Develop a successful marketing strategy FIRST - Identify a target market THEN – Create a marketing mix SLIDE 4

5. MARKETING STRATEGY Target market – is a specific group of consumers who have similar wants and needs http://appleinccasestudy.weebly.com/apples-target-market.html Marketing mix - is the blending of four marketing elements—product, place, price, and promotion. Marketing orientation - considers the needs of customers when developing a marketing mix. ( uses research) SLIDE 5

6. SLIDE 6 UNDERSTAND CUSTOMERS Consumer decision-making – Is the specific sequence of steps consumers follow to make a purchase Buying motives – Are the reasons consumers decide what products and services to purchase. https://www.youtube.com/watch?v=65Vt9nmVYDM

7. SLIDE 7 STEPS IN THE CONSUMER DECISION- MAKING PROCESS 1. 1.Recognize a need. 2. 2.Gather information. 3. 3.Select and evaluate alternatives. 4. 4.Make a purchase decision. 5. 5.Determine the effectiveness of the decision.

8. Buying Motives Final consumers - persons who buy products and services mostly for their own use. Emotional buying motives – are purchases guided based on feelings, beliefs and attitudes. Rational buying motives – are purchases guided based on facts and logic. SLIDE 8