1. Goods and Services

2. Raw Materials
Come from mining companies, farms, fishing boats, oil rigs, loggers, etc.
For example, a farmer markets tomatoes to a ketchup maker, or a forestry company markets logs to a paper mill
Canada exports a lot of raw materials
We also import many raw materials (ex: oranges)
Raw materials are usually marketed to business

3. Processed Goods
The nature of the product is changed, for example pasteurizing milk, or pressing applies into juice, or creating pulp from wood
Processed goods may be sold as finished goods, or as semifinished goods
Semifinished goods are marketed to manufacturers

4. Finished Goods Do not require any further processing
May be a consumer good (ie Nike Shoes) or an industrial good (car seat)
Consumer goods are used by the general public
Typically sold by retailers to consumers
Can be sold to industry
Ex: Original Maple Bat Company sells to major league baseball teams as well as consumers
Industrial goods are used by a business to make other products, and can be any of raw materials, processed goods, or finished goods

5. Services Activities performed for others
Just like goods, can be marketed to consumers or industry
Ex: Piano tuner
If they tune pianos for a symphony, it’s an industrial service
If they tune pianos in people’s homes, it’s a consumer service
Most businesses focus on one or the other

8. The Marketing Concept
BMI3C

9. The Marketing Concept
The idea that a business must consider both its potential customers and its competitors in EVERY business decision
The idea is to satisfy the customer and overcome the competition
Business failure is the result of businesses not using the marketing concept effectively

10. 3 Steps identify an opportunity
make sure that this opportunity has not already been met by the competitor
use appropriate marketing strategies to organize marketing plans in order to sell the product/service successfully

11. Supply and Demand The marketing concept is based on supply and demand
Low supply of a desired item + high consumer demand is the ideal scenario
Marketing is less important in high demand situations (the product sells itself)
High supply = need good marketing to be successful

12. The Development of the Marketing Concept
In the past, demand always outstripped supply
Prior to the Industrial Revolution it was next to impossible to produce or import items in any significant quantity
Marketing was unnecessary

13. The Development of the Marketing Concept
In the l950’s there was a huge change in marketing:
growth of department stores
development of mass media (magazines, radio, billboards, and TV)
creation of supermarkets and shopping malls (the first was in 1950 in Vancouver)
This facilitated the real “birth” of mass marketing

14. Today Supply outstrips demand; therefore, advertising is crucial
Further, the internet and globalization mean companies from around the world compete for the same customers, and customers have a greater choice than ever before
Consumers now realize their power in the marketplace

15. Basically… Old concept: “Whatever we make, you’ll buy”
New concept: “Whatever you want, we’ll make”