1. Marketing 1Marketing 1 The Marketing ConceptThe Marketing
Concept
2. ObjectivesObjectives Explain the marketing conceptExplain
the marketing concept Differentiate between customers
andDifferentiate between customers and consumersconsumers Explain
what a market isExplain what a market is Understand target
marketingUnderstand target marketing Identify the four Ps of the
marketingIdentify the four Ps of the marketing mixmix
3. Brainstorming ActivityBrainstorming Activity Work with one
person sitting next toWork with one person sitting next to you.you.
Generate a list of your favorite productsGenerate a list of your
favorite products ClothesClothes GamesGames Electronic
devicesElectronic devices Etc.Etc. Why are these your favorite?Why
are these your favorite? What do these products do for you?What do
these products do for you?
4. Marketing is . . .Marketing is . . . The process of
developing, promoting, andThe process of developing, promoting, and
distributing products to satisfy consumers needsdistributing
products to satisfy consumers needs and wants.and wants.
5. The Marketing ConceptThe Marketing Concept Businesses must
satisfy consumersBusinesses must satisfy consumers needs and wants
in order to make aneeds and wants in order to make a profit.profit.
Competition forces businesses toCompetition forces businesses to
embrace the marketing concept.embrace the marketing concept. Must
have the right goods and servicesMust have the right goods and
services at the right time, in the right place.at the right time,
in the right place. Market research helps companies findMarket
research helps companies find out what consumers want.out what
consumers want.
6. Customer or Consumer?Customer or Consumer?
CustomersCustomers buy the goods or servicesbuy the goods or
services ConsumersConsumers are the people that end upare the
people that end up using the goods or servicesusing the goods or
services Example: A parent buys a box of cereal at theExample: A
parent buys a box of cereal at the store, but the 5 year old son
eats the cereal.store, but the 5 year old son eats the cereal. Who
is the customer and who is the consumer?Who is the customer and who
is the consumer?
7. What is a Market?What is a Market? All potential customers
who shareAll potential customers who share common needs and
wants.common needs and wants. Must have the ability and willingness
toMust have the ability and willingness to buy the product.buy the
product.
8. What is Target Marketing?What is Target Marketing? Focusing
all marketing decisions on aFocusing all marketing decisions on a
very specific group of people you arevery specific group of people
you are trying to reach.trying to reach.
10. What is a Customer Profile?What is a Customer Profile? Can
include information about theCan include information about the
target market with generaltarget market with general information
such as:information such as: AgeAge Income levelIncome level Ethnic
backgroundEthnic background OccupationOccupation Geographic
residenceGeographic residence LifestyleLifestyle
11. What is a Marketing Mix?What is a Marketing Mix? Comprises
five basic marketingComprises five basic marketing strategies (5
Ps):strategies (5 Ps): ProductProduct PlacePlace PricePrice
PromotionPromotion PeoplePeople
12. In Class ActivityIn Class Activity Select one of your
favorite productsSelect one of your favorite products you listed
earlier in class.you listed earlier in class. Describe how the 5 Ps
are associatedDescribe how the 5 Ps are associated with that
product.with that product. What is the product made of?What is the
product made of? Where is the product sold?Where is the product
sold? How much does the product cost?How much does the product
cost? How is the product promoted to the public?How is the product
promoted to the public? Who is the product sold to?Who is the
product sold to?