1. Understand the role of marketing in business.
Essential Standard 3.00
Understand the role of marketing in business.

2. Understand buying behaviors.
Objective 3.02
Understand buying behaviors.

3. Topics Marketing Strategy Consumer Decision-Making Process
Major Sources of Consumer Information
Shopping Locations

4. Marketing Strategy
What does a marketing strategy provide for a business?
Two steps of a marketing strategy:
Identify a target market
A target market consists of a group of people that have similar needs and wants.
Create a marketing mix
A marketing mix consist of a blending of the marketing elements (product, price, distribution, and promotion)
What does a marketing strategy provide for a business?
A marketing strategy provides vital information on how a business will meet its goals of satisfying customers that will result in making sales and profits

5. Marketing Strategy continued
Steps in the consumer decision-making process:
Recognize a need or want
Gather information
Select and evaluate alternatives
Make a purchase decision
Determine the effectiveness of the decision

6. Major Sources of Consumer Information

7. Product Testing Organizations
Test products and services to detect benefits.
Examples
Underwriter Laboratories
Association of Home Appliance Manufacturers
Consumers Union (Independent testing organizations)

8. Media Sources
Provide specific information about products and services.
Types of media sources:
Print
Examples
Magazines
Newspapers
Broadcast Organizations
Radio
Television
Internet

9. Government Agencies (Purpose)
Inform consumers and may handle consumer questions.
Types
Federal
State
Local
What are some ways that government agencies protect people?

10. Business Sources
Business sources are available as a public service and to sell products and services.
Types
The main function of advertising is to sell.
Product labels provide helpful information about nature of product, how to care for product, where product was made, and the size of the product.
Customer Service Departments focus on assisting customers.
Better Business Bureau (BBB) provide facts about products or services.

11. Major Sources of Consumer Information
What kinds of information has anyone obtained from an advertisement?
How was the information obtained from the advertisement used?
What product label has someone used recently?
How was the information obtained from the product label used?

12. “Word of mouth” advertising.
Personal Contacts
“Word of mouth” advertising.

13. Shopping Locations

14. Traditional Retailers (5)
Department Stores
Provide broad product lines and highlight their service
What are some examples?
Discount Stores
Highlight their offering of lower prices for products
Specialty Stores
Provide a special line of products

15. Traditional Retailers continued
Supermarket
Large, full service store that offer many brands of products
What are some examples?
Convenience Store
Provide popular items, offer long operating hours, and are usually located in highly accessible areas

16. Contemporary Retailers (4)
Specialty Superstores
Provide wide variety of limited products at low prices
What are some examples?
Superstores
Provide a wide variety products in the retail services such as food, bakery, auto, and electronics.

17. Contemporary Retailers continued
Warehouse Club
Provide products in large quantities at practical prices.
What are some examples?
Factory Outlets
Provide high-quality products at low prices.

18. Non-Store Shopping
Allows purchasing of goods and services by telephone, computer, television, fax, or door-to-door.
What are some examples of non-store shopping opportunities?
Vending machines provide products through automation.
What are some examples of vending machine shopping opportunities?