Block 1 Introduction To Business Unit 6- Marketing

Block 1Introduction To Business

Unit 6- Marketing

Goals for WednesdayDefine marketing vocabularyIdentify the various roles of the marketer

Demonstrate ability to create and analyze a target market.

Illustrate effective marketing communication.

Do NowPlease recall a recent trip to the mall.

What advertising or sights, smells, sounds did you encounter.

Please explain…

Marketing VocabularyMarketing- an organizational function for

communicating, creating, delivering value to customers and building relationships with customers.

Marketing Orientation- considers the needs of customers when developing a marketing mix.

Target Market- a specific group of consumers who have similar wants and needs.

Marketing Communication- messages and related media designed to communicate with a market.

Marketing Vocabulary(cont.)Marketing mix- product, price, place and

promotion. A successful marketing mix satisfies the needs and wants of the target market.

** Packaging is considered a 5th P.Buying Motives- Reasons customers decide on buying products.

Rational- LogicalEmotional- gut instinct

Target Market ActivityStudents will develop a target market using

the following 3 categories:AgeIncome LevelLife style

Students will create the 3 target markets in power point using smart art. Go to Insert- Smart Art- Relationships

Communication ActivityPlease turn to page 238 and view the

picture on the bottom right for 30 seconds. Pretend you are walking down a walkway when viewing.

Discussion- What does the picture say to you?What is wrong with the communication?

Students- You will recreate the ad by simplifying in your own words.

Exit TicketToday I learned…..What I found most valuable was…..

I was most surprised by….

Goals for TodayReview and summarize buying motives and

the 4 p's of marketing.Illustrate buying motives and pricing

stategies.Determine which elements create effective

packaging and illustrate a unique package concept.

Do NowStudents will brainstorm a list of

commercials with only emotional content.Students will do the same for logical

commercials.Compare/ contrast and put an entire list on

the front board.

Marketing mix

4 P’s of Marketing

ProductMust be either a brand name or other

brand (generic) or substitute goodBrand Name- has a lot of recognition and

value in the customer’s mind. Ex. TideSubstitute Good- example Sierra Mist and

SpriteGeneric- Osco medicine, Shop Rite Cola

PriceDiscount- low pricing strategy. Ex. Wal-martPremium Pricing- Mercedes, Lexus etc. The price creates the value or aura

surrounding the product.Mark-up Cost- neither of the above strategy

is utilized. This marks up the cost to allow a reasonable profit. Ex. 20% markup

PlaceLocation where products are sold

InternetStore (Bricks and Mortar)Flea MarketOther( House parties, vending etc.)

Methods of Distribution(Truck, Rail, Plane)

PromotionAdvertisement

TV- Super Bowl etc.Radio- pick rush hourMagazineBillboardWord of Mouth

The goal is to create a trend. Can you think of a product that became a trend?

PackagingFreshnessLabelIngredientsAdvertise- Colors, celebrity, cartoon

character, Win a prizeChange packaging so customers think it is

new. Example Pepsi cans, detergent powder, liquid, cubes, etc.

ActivitiesStudents will re-create 2 advertisements

based on emotional rational advertising.

Students will re-create 2 advertisements on discount and premium pricing.

Students will design packaging for a product including a logo, a contest, and label

Exit TicketStudents will complete a short survey

asking them questions about the number of stores and locations within 10 miles that they may frequently shop.

Students will relate this information back to the 4 p’s of marketing.

Goals for FridayDefine channels of distributionCreate a direct and indirect channel

relating to common every day goods.Identify stores that sell goods both in store

and on lineIllustrate how on line stores link goods in a

way that creates increased product demand.

Do Now(from yesterday)Students will re-create 2 advertisements based on emotional rational advertising.

Students will re-create 2 advertisements on discount and premium pricing.

Do NowStudents will generate a list of large well

known stores that have a store site as well as an online site:

Contest- Students on left side of room A-LStudents on right side M-Z.

Contest winners get extra credit.

VocabularyChannel of Distribution- The route a

product follows from producer to consumer.

Direct Channel- Product moves directly from producer to consumer.

Indirect Channel- a product goes through various distributors or middlemen before reaching the consumer.

ActivitiesStudents will create a channel of

distribution for 2 different products.1 direct1 indirect

Students must show all steps and have arrows or another mechanism to show product movement.

Activity 2Students will go online and define product

bundling.Students will log into Amazon.comStudents will search for any household

product over $20.00.Students then must show linking to the

product and:1. Explain why bundling the purchase is

beneficial to them and the store.

Activity 2 continued2. Students will add the individual prices of

the selected products and get a total.3. Students will calculate cost savings of

the bundle.4. Students will explain from their own

perspective how the advertising assists them in identifying and locating new or related products.

Exit TicketStudents will answer:1. What did I learn today?2. The most significant information was..

3. I think what comes next is…

VocabularyFacts- information which accurately reflects product or company history.

Features- attributes of the product which differentiate it from others.

Benefits- what will this product do for you?

VocabularyPre- qualify customer- ask questions to get

to know customer.

Closing the sale- Which one?, How many?, On ascale of 1 to 10?, Gift wrapped?

Reduce discomfort- Great buy, My family owns this etc.

Complete handout