UNIT 1: Why Take UNIT 1: Why Take Marketing?Marketing?Business Major in college?Marketing Job?Personal Use?Heard it was easy?Mr. Smith is the coolest?MVCC Dual Credit!!!!

Why Marketing?Why Marketing?

One of the first Business courses you will take in most colleges is Principles of Marketing.

If you don’t understand basic marketing theory and language when you get there, you may be in trouble before you start.

Why Marketing?Why Marketing?1 in 5 college

students major in Business Management.

11 million employees are needed by 2015 in 11 business related careers requiring a college degree.

*** U.S. Dept of Labor ***

Why Marketing?Why Marketing?

The skills learned in high school Marketing can enhance your worth to your employer.

Why Marketing?Why Marketing?

2 of top 10 largest growing career areas not requiring college degrees are Cashiers and Retail Salespersons.

30 million + employees will be needed by 2015 in 14 business-related career areas not requiring a college degree.

These careers have average incomes in excess of $20,000.

*** U.S. Dept of Labor

Why Marketing?Why Marketing?

Regardless of the career field, employers want people who have these skills:

Problem solving Critical thinking Understanding of

business/profit Organization Accuracy Integrity

Use of technology

All skills that are essential for this course

Impact of MarketingImpact of Marketing

On Business◦Marketing research helps businesses develop products that will satisfy customers in attractive segments of the market

Impact of MarketingImpact of Marketing

On Individuals◦Makes life easier◦Creates Jobs

1/3 of all jobs in the U.S. are marketing related

◦Marketing skills help you in any career

Impact of MarketingImpact of Marketing

On Society◦More efficient Automobiles ◦Safer Products◦Improved Standard of Living

Average value of resources produced by a country relative to its population

Impact of MarketingImpact of Marketing

Impact on Society cont…◦Marketing increases public awareness of social

issues

Social Social ResponsibilityResponsibility

Social Responsibility ◦Concern about company actions on others◦Do you think social responsibility is increasing

or decreasing in business today?◦Increasing…Why

Consumerism: Organized Action of groups of customers seeking to influence Business

Boycott: Refusal to purchase a particular product due to a social belief

Social Social ResponsibilityResponsibility

Social Responsibility cont…◦Government Regulation

Consumer Bill of Rights◦Developed under JFK ◦Protects consumers from bad business practices

Social Social ResponsibilityResponsibility

Social Responsibility cont…◦Business Regulate Themselves

How & Why? Code of Ethics Statement of company responsibilities as it pertains to honest & proper conduct Social Action

◦When businesses use their resources to help society

Without Marketing…Without Marketing…

Without marketing, how would the customer… (VERY IMPORTANT!!!!!)◦Find out about the product◦Gather information about the product◦Locate the product◦Pay for the product◦Transport the product