Marketing, MK U 12, p 64 → MK p 64: Lead-in

The selling & marketing concepts The “selling concept”: –You sell what you _____. The “marketing concept”: –You make what ______________. Marketers ______ needs, __________ and ______ new ones. Examples of new “needs”: make will be bought satisfy anticipate create Walkman, video recorders, CD players, PCs, Internet, Google, mountain bikes, Facebook... Teddy the Guardian

Selling vs. Marketing Focus on: PRODUCT vs. CONSUMER –selling –inward looking –out-dated –shorter –about profit now –introverted buying otward looking state-of-the-art longer about profit later extroverted

Identify the topic and match... Internal Focus group Sales Printed sources of Questionnaire secondary data research interviews research staff

Sources of info in market research: Internal research Focus group interviews Sales staff Printed sources of secondary data Questionnaire research

Marketing activities Identify/anticipate needs/wants of target consumers (market research): –internal research –secondary data –focus group interviews –quest. research –sales staff... Analyze data

Source of information involving... contacting individuals by phone, mail or personally = business newspapers, magazines and trade journals, competitors’ annual reports, official government statistics... = invited members of the target market = data available in the company’s accounts and sales departments (record of sales, orders, inventory size) = Use MK, p 63 to respond!