Part 1 – The Marketing Function. Activity: Brainstorm / Modelling – 10 minutes - Pairs List 5 goods or services (things) you have bought or used in the.

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Presentation transcript:

Part 1 – The Marketing Function

Activity: Brainstorm / Modelling – 10 minutes - Pairs List 5 goods or services (things) you have bought or used in the past week? Did you buy or already have them? Why did you buy/use them? How did you know about them?

What is marketing? Marketing is a process that provides the link between producers or providers of goods & services and consumers What can marketing extend to?

Marketing practices 4 Stages have evolved over time 1.“Make it & it will sell” = PRODUCTION orientation (Eg: T-Model Ford) 2. Persuade existing and new customers to buy what we already produce = SALES orientation (Eg: House Car Insurance) 3.Bring all marketing activities under control of one department to achieve short term business goals = MARKETING DEPARTMENT orientation (Eg: Nike – Air Jordan) 4.Focus on the needs and wants of the consumer and develop products to meet these, also achieving business objectives = MARKET CONCEPT approach

Marketing Concept Approach

How does marketing relate to business objectives? Marketing plan outlines strategies to bring buyer and seller together Marketing Identifies for the business who, why and where product & market is Customer wants (if satisfied) should lead to repeat sales >>Marketing drives revenue Increased Market Share >> Improved profits

Activity – Good Marketing Alignment Product/ServiceWhy this is well marketed Possible Business Objectives Measures 1. JetstarTV Advertising features Holiday’s, sunny places Be number 1 budget/holiday airline of choice Skytrax Airline Awards