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
Create a marketing mix
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 .
A target market consists of a group of people that have similar needs and wants.
A marketing mix consist of a blending of the marketing elements (product, price, place, and promotion)

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
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.
The main function of advertising is to sell.
Types
Product labels – Provide Helpful information about nature of product, how 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
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. Business Sources continued
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. Personal Contacts “Word of mouth” advertising.
How do you use personal contacts to learn about new products?

13. Shopping Locations

14. Traditional Retailers
Department Stores
What is a department store? – Provides broad product lines and highlight their customer service
What are some examples? Provide some examples in notes sections
Discount Stores
What is a discount store? – Highlight their offering of lower prices for products
Specialty Stores
What is a specialty store? – Provide a special line of products
Department stores provide broad product lines and highlight their customer service.
Discount stores highlight their offering of lower prices for products.
Specialty stores provide a special line of products.

15. Traditional Retailers continued
Supermarket
What is a supermarket? – Large, full service store that offers many brand of products
What are some examples? Provide some examples in notes sections
Convenience Store
What is a convenience store? – Provides popular items, offer long operating hours, and usually located in highly accessible areas
A supermarket is a large, full service store that offers many brands of products.
A convenience stores provide popular items, offer long operating hours, and are usually located in highly accessible areas.

16. Contemporary Retailers
Specialty Superstores
What is a specialty superstore? – Provides a wide variety of limited products at low prices
What are some examples? Provide some examples in notes sections
Superstores
What is a superstore? – Provides a wide variety of products in retail services, such as food, bakery, auto, and electronics
A specialty superstore provides a wide variety of limited products at low prices.
A superstore provides a wide variety of products in retail services, such as food, bakery, auto, and electronics.

17. Contemporary Retailers continued
Warehouse Club
What is a warehouse club? – Provides products in large quantities at practical prices
What are some examples? Provide some examples in notes sections
Factory Outlets
What is a factory outlet? – Provides high quality products at low prices
A warehouse club provides products in large quantities at practical prices.
A factory outlet provides high-quality products at low prices.

18. Non-Store Shopping
What is non-store shopping? – Allows goods and services to be purchased by telephone, computer, television, fax, or door-to-door
What are some examples of non-store shopping opportunities? Provide some examples in notes sections
Another example is vending machines. What are vending machines? Provide products through automation
What are some examples of vending machine shopping opportunities? Provide some examples in notes sections
Non-store shopping allows goods and services to be purchased by telephone, computer, television, fax, or door-to-door.
Vending machines provide products through automation.