2. We will look at: Marketing definition Types of Markets The Marketing Mix Market Research Methods of Market Research Market Segmentation Advertising Sales and PR

3. Questions to Consider: 1.What is the definition of marketing? 2.List 6 types of markets with examples. 3.What is a target market? 4.Explain the marketing mix using a product/service of your choice. 5.What ways can we collect information? Give advantages and disadvantages for each. 6.What is market segmentation? 7.S.E.E. Advertising. 8.What is meant by PR/Sales Promotion?

4. Marketing Marketing means identifying consumer’s requirements and identifying how to supply these requirements at a profit. It is finding out what a customer wants and making a product to satisfy these needs profitably

5. A Market A market refers to all the people and institutions involved in buying and selling a product. It is where the buying and selling happens

6. Market Types Online Market- Goods and services are advertised and sold online Retail Market- Where goods and services are sold to the public Street Market- Sell fruit, vegetables and clothes

7. Market Types Wholesaler Market- Goods and services are sold to retailers Stock Market- Where stocks and shares are bought and sold Export Market- Exporting to other countries

8. Target Market A Target Market refers to all people who might buy a particular good or service. The Target Market will have something in common and are targeted by the advertisers Example Target Market for Ed Sheeran tickets would be Pop Music Fans or Soccer Jerseys would be football fans http://youtu.be/kDTJd1OLPHw

9. Target Markets Who would be the Target Markets for the following products? Nintendo DS Junior Cert Business Studies Website Walking Sticks Fertilizer

10. The Marketing Mix The Marketing Mix is about: The right PRODUCT Sold at the right PRICE In the right PLACE Using the most suitable PROMOTION techniques We can use the marketing mix to examine all products on the market and the marketing mix that is involved.

11. The Marketing Mix Think about Easter Eggs

12. The Marketing Mix Product: What product is being produced? Price: What are we going to charge? Is it going to be a fixed price or a bundle? 3 for €5 in Tesco, €9.99 for Giant Easter Eggs

13. The Marketing Mix Place: The best way of getting the product to the customer. Think back to Channels of Distribution. Where are we going to sell? Supermarkets, Shops, Garages, Off Licences, Online Shopping Promotion: Making sure the customers know about the product. The marketing, advertising, sales and after sales service. 2 for 1/, 3 for€5, Money off when you spend over a certain amount, advertising on TV, shop windows, online- ‘Like and Share’ on Facebook

14. Market Research One of the most important tasks in business is to find out what products and services the consumer needs and wants Market Research is therefore collecting information about a product and its market and then using that information to make business decisions

15. Market Research helps: Find out the size of the market The main competitors Decide on a suitable selling price Most effective advertising channel To discover the most suitable name

16. Example In 1979, Guinness brought out a low-calorie product called Guinness Light. It was aimed at the 20 to 30 age group to attract them to drinking Guinness. Proper Market Research did not happen and as a result the product failed to sell as the market was not there and despite a huge advertising budget, the product was withdrawn

17. Methods of Collecting Information Field Research- Going out and asking the public information (going into the field)- Examples include questionnaires, taste tests, observations Desk Research- Information is collected by looking up reports and the internet (at a desk)- Examples include libraries and government agencies.

18. Question What do you think would be advantages and disadvantages for each?

19. Verbal Test What is the definition of marketing? List 4 markets What is a target market Discuss the 4P’S using a product of your choice. What is the definition of market research? How does market research help the business? What are the 2 types of market research?

20. Market Segmentation Some products or services, example Call of Duty, are bought by particular groups of people, while chocolate bars may be bought by everyone. Therefore, businesses may divide their target market into smaller groups (or segments) and use these groups to promote their product or service. This is known as market segmentation Examples of segments- Boys/Girls...Income

21. Market Segmentation http://youtu.be/DUuirqtSqpg

22. Promotion Mix Personal Selling- door to door/face-face Direct Mailing Sales Promotion- eg. 2 For 1, Buy one get one free Public Relations Advertising

23. Personal Selling

24. Direct Mail

25. Sales Promotion Used to back up advertising to increase sales Examples Free Samples Coupons Special Offers Money Off Vouchers

26. Sales Promotion Take it for Free!!

27. Public Relations Presenting a good image of the company to the public Duties Include Issue press releases Arrange sponsorship Arrange radio and tv coverage

28. Publicity Stunt Example Regardless of what anyone’s reaction was, Miley Cyrus’ name flooded numerous social media newsfeeds. The 2013 VMAs was an opportunity for the young entertainer to make a splash. In the past, Madonna and Britney Spears kissed on stage, and Lady Gaga showed up in a costume made of raw meat. Why should Miley Cyrus not take advantage of this opportunity?

29. Advertising Why Advertise? Inform the public Persuade to buy To Promote a product/service To increase sales Increase share of the market Respond to competitors

30. Types of Advertising Informative- Give information, example milk is good for bones/ buy Irish Persuasive- Chose our product Competitive- Make the switch Generic- Industry promotes the product, example Irish Beef

31. Advertising Media

32. Advertising Aims

33. AIDA IN ACTION http://www.dailymail.co.uk/news/article- 2060655/Free-beer-criminals-Police-arrest-19- suspects-unsolved-crimes.html