1. Unit 1: Marketing Basics Ch 1: Marketing is Dynamic

2. Ch 1 Learning Goals  Explain why companies market goods, services, and ideas  Describe each of the Four Ps of marketing  Define good, service, and idea  Explain how marketers determine the marketing mix  Summarize the key elements of a marketing plan

3. Day 1 Response Journal Read A Stroke of Genius? Found on page 3 in your text. What price do you think Vivienne should charge for a glass of her lemonade? Why did you select that price? ***Save As Feb 4 in your Response Journal Folder*** Marin girl’s ‘stand’ against child slavery

4. Marketing Defined How would you define marketing?  Marketing consists of dynamic activities that focus on the customer to generate a profitable exchange What is the goal of marketing?  To meet the needs and wants of customers with products and services that customers can and will buy

5. Marketing is Dynamic What makes marketing dynamic?  The word dynamic describes something that is constantly _______________  Marketing is dynamic because customers’ needs and wants are constantly changing, and therefore marketing must constantly change Changing

6. Marketing is Dynamic Customers’ needs and wants change because;  Customers change  Age Think of the things you wanted and needed in kindergarten. Do you want and need the same things now?  The world customers live in changes  The economy changes  Technology changes  Social trends change

7. Marketing Is Customer-Focused  A _______________ is an individual or group who buys products  A customer can be …  A Person  A Business  A Not-for-profit organization  The Government  Read the example on page 6, paragraph 2 Customer

8. Marketing Is Customer-Focused Marketers focus on customers by;  Learning what customers need and want and then  Developing products to meet those needs and wants  A __________________ is a specific group of customers whose needs a company will focus on satisfying Teens are a popular target market What products do you think teens are the target market for? Target Market

9. Marketing Is Relationships  The basis for marketing is the relationship between the _________ and the _________  Many businesses try to develop long-term relationships with their customers  Research has shown that it is less costly to keep a current customer that to get a new customer  As a result, many businesses focus on developing and maintaining those relationships Buyer Seller

10. Marketing Is Relationships Examples;  Salespeople often contact the customer after the sale to make sure the product is functioning properly and meeting their needs  Salespeople/companies might send birthday greetings or notices of sales to past customers  Businesses may reward repeat customers with discounts or free products  Scotiabank/Cineplex SCENE Card  Pita Pit Pit Card

11. Marketing Is International  People can buy products from anywhere in the world  E.g. Japanese products, such as the Nintendo Wii, are available at Conestoga Mall and a Chinese student who lives in Beijing can buy a hamburger at a McDonald’s Restaurant near their house

12. Day 1 Assigned Work Students please complete the following;  K&U Questions # 1 – 4 on page 16  Application Question #1 on page 17 ***Save As Ch 1 Day 1 in your U1 Folder***

13. Day 2 Response Journal Does the price of a product affect whether you will buy it? Give a specific example to back up your answer. ***Save As Feb 5 in your Response Journal Folder***

14. Marketing Is the Four Ps  The Four Ps are the basic elements of marketing and consist of;  Product  Place  Price  Promotion

15. Marketing Is the Four Ps  Product is the ________.  What are you selling?  Place is the _________.  Where are you selling it?  Price is the _______________.  How much will the customer pay for it?  Promotion is __________________.  What do you want the customers and the public to know? What Where How Much Communication

16. Product  A ___________ is anything that can be bought or sold There are three types of products; 1.A Good  Any physical item, something you can touch  E.g. jeans, cellphone, magazine, etc. 2.Service  An action done for you  E.g. a dry cleaner, a tanning session, etc. 3.Idea  A concept, cause, image, issue, or philosophy that can be marketed  E.g. contribute to charity, buckle up, vote for this candidate, etc. Product

17. Categorize the pictured products above as either a good, service, or idea.

18. Place  __________ involves making products available to customers  Must be convenient; times and locations Read the example on page 8, paragraph 5  Involves determining when, where, and how products get to customers  Includes decisions about where to locate stores and decisions about retailing A ____________ is a business that buys other company’s products and resells them to the final consumer  In marketing, the Internet is also considered a place Place Retailer

19. Place  Place also includes distribution  _____________ is physically getting goods to customers Distribution includes;  Shipping  Storing  Inventory  Stocking of goods Distribution

20. Price  __________ is the amount of money requested or exchanged for a product  Determined by marketers  Price is based on 1.How much the customer will pay 2.The costs to produce the product  If the price is too high, customers may not buy your product but if the price is too low, you might not make enough money to cover your expenses Price

21. Promotion  _____________ is the process of telling people about the product and the company that offers it  Communication with customers  The most visible part of marketing Promotion

22. Promotion includes;  Selling  Advertising  Sales promotion  Public relations  Creating a positive image of your company

23. Marketing Is the Marketing Mix  The ___________________ is a plan of action for marketing a product  Consists of the decisions made about each of the Four Ps  Made with the target market in mind  Read the example on page 12 paragraphs 4 & 5 Marketing Mix

24. Marketing Is the Marketing Mix Marketing mix decisions include answers to the following questions:  What products do customers need or want?  Which stores will be convenient for them?  What price will they pay?  Where will they see ads?

25. Marketing Is the Marketing Mix  This is a graphic representation of the marketing mix  The target market is in the middle to show that all decisions are made with the target market in mind

26. The Marketing Mix in Action  Read the example on page 13 paragraphs 3 & 4 Try and identify the Four Ps in this marketing mix, for the scenario outlined below.  You are hungry  You hear a commercial on the radio promoting a new value meal at Harvey’s  The announcer says that the value meal costs $4.95, and you have $6.00 in your pocket  You walk to Harvey’s and buy the value meal

27. Day 2 Assigned Work Students please complete the following;  K&U Questions # 5 - 7 on page 16  Thinking Questions # 1 & 2 on page 16  Application Question # 3 on page 17 ***Save As Ch 1 Day 2 in your U1 Folder***

28. Day 3 Response Journal Name 3 locations where you have seen an ad in the last week. What were the ads? Did any of them influence you to make a purchase? Why? ***Save As Feb 6 in your Response Journal Folder***

29. Marketing Is the Marketing Plan The marketing plan is like a road map, it is a plan that guides a company so that it avoids such pitfalls as;  Lost sales  Lost opportunities  Poor product planning

30. Key Elements of a Marketing Plan Key elements of a marketing plan include;  A market opportunities and analysis  Such as a SWOT analysis  A market strategy  An action plan  Monitoring and evaluating the plan

31. SWOT Analysis  A SWOT analysis helps a company determine;  Strengths  Weaknesses  Opportunities  Threats  Read the example on page 14 paragraph 3

32. Is Marketing in Your Future? Marketing;  Is an exciting field  Has potential for high earnings  Is useful in careers not directly related to marketing

33. Is Marketing in Your Future? This marketing course/having marketing skills can help you;  Prepare for studies and a job in marketing Read paragraphs 3 & 4 on page 15  Use marketing in other fields Read paragraphs 5 & 6 on page 15  Make wise consumer decisions Read paragraph 7 on page 15

34. Day 3 Assigned Work Students please complete the following;  Complete the Key Elements of a Marketing Plan Worksheet (provided)  Thinking Questions # 4 & 5 on page 16  Complete a SWOT Analysis for a Canadian coffee shops that you enjoy visiting  Outline their strengths, weaknesses, opportunities and threats ***Save As Ch 1 Day 3 in your U1 Folder***