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.

9. Target Market ExamplesTarget Market Examples NFLs targetNFLs target audience is:audience is: Males, Ages 17 -Males, Ages 17 - 4545 Wet Seals targetWet Seals target audience is:audience is: Females, Ages 15 -Females, Ages 15 - 2727

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?