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Continue• What type of people do they think of
when they think about each of the brands that you wrote down?• Can you think of an advertisement for
that product?• Where could you buy the product?
COMMERCIALS• What are you favorite commercials?• Write them down• Are there any celebrities in them?• Why do companies spend a large sum of
money to have famous people endorse them?
Marketing Basics
• Marketing-the creation and maintenance of satisfying exchange relationships• Creation-product development• Maintenance-continues even after the
consumer buys the product• Satisfaction-meets the needs of both parties• Exchange Relationships-both parties get
something of value
Product• Is what the business offers customers
to satisfy needs.• Athletic shoes, games, video rentals
Promotion
• Involves the ways to encourage customers to purchase products and increase customer satisfaction• Advertising, publicity, personal
selling, and public relations
Activity• Backpack• Baseball Hat• Coffee Mug• Seat Cushion• Sweatshirt • T-Shirt• Watch• Jersey• Program• Framed Picture
Key Marketing Functions• Product/Service Management• Distribution• Selling• Marketing-Information Management• Financing• Pricing• Promotion
Product/Service Management• Designing, developing, maintaining,
improving, and acquiring products or services so they meet customer needs.
Distribution• Determining the best way to get the
product to the consumer• Personal selling• In store• On line• Mail order
Selling• Direct and personal communication
with customer• Satisfy current needs and anticipate
future needs
Marketing-Information Management
• Gathering info about customers• Surveys• On-line forms• Warranty registrations• Those annoying people in the mall
Financing• The budget to sell the item• The ways to assist customers in
purchasing your product• 0% financing
Pricing• Communicating the value or cost of
goods• High price and quality• Low price and high volume• High price with low volume
Promotion• Using advertising and other forms of
communication to inform about products• Commercials• “Cubs Floppy Hat Day”• “McDonald’s Happy Meal Toys”
Key Marketing Functions• Product/Service Management• Distribution• Selling• Marketing-Information Management• Financing• Pricing• Promotion
TARGET MARKET
• Specific group of people you want to reach• What do you think the typical College Football target
market is?• Demographics – needs to be determined before the
company tries and sells a product• age, marital status, gender, educational level, attitudes and
beliefs, and income.
Mass Market vs. Target Market
• MM-using a single marketing strategy or plan to reach all consumers• Started to change in the 50’s and early 60’s• Chewing Gum
• TM-focusing all marketing decisions on the specific group of people you want to reach• Segment the market into smaller groups• Use the 4 P’s to focus on those groups
Segmentation
• Dividing the total market into smaller groups of people who share specific needs and characteristics
• When marketing sports and entertainment the most important characteristic of a segment is disposable income