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1
UNDERSTAND THE ROLE OF MARKETING IN BUSINESS.
ESSENTIAL STANDARD 3.00
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UNDERSTAND BUYING BEHAVIORS.OBJECTIVE 3.02
TOPICS
• Marketing Strategy• Consumer Decision-Making Process • Major Sources of Consumer Information• Shopping Locations
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MARKETING STRATEGY
• What does a marketing strategy provide for a business?
• Two steps of a marketing strategy:1. Identify a target market2. Create a marketing mix
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MARKETING STRATEGY CONTINUED
Steps in the consumer decision-making process:1. Recognize a need or want2. Gather information3. Select and evaluate alternatives4. Make a purchase decision5. Determine the effectiveness of the decision
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MAJOR SOURCES OF CONSUMER
INFORMATION
PRODUCT TESTING ORGANIZATIONS
• Test products and services to detect benefits.
• Examples– Underwriter Laboratories– Association of Home Appliance Manufacturers– Consumers Union (Independent testing organizations)
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MEDIA SOURCES
• Provide specific information about products and services.
• Types of media sources:• Print
Examples• Magazines• Newspapers
• Broadcast OrganizationsExamples• Radio• Television
• Internet
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GOVERNMENT AGENCIES
• Inform consumers and may handle consumer questions.
• Types• Federal• State• Local
• What are some ways that government agencies protect people?
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BUSINESS SOURCES
• Business sources are available as a public service and to sell products and services.
• The main function of advertising is to sell.
• Types• Product labels• Customer Service Departments• Better Business Bureau (BBB)
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BUSINESS SOURCES CONTINUED• What kinds of information has anyone
obtained from an advertisement?
• How was the information obtained from the advertisement used?
• What product label has someone used recently?
• How was the information obtained from the product label used?
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PERSONAL CONTACTS
• “Word of mouth” advertising.• How do you use personal contacts to learn about
new products?
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SHOPPING LOCATIONS
TRADITIONAL RETAILERS
• Department Stores• What is a department store?• What are some examples? Provide some examples
in notes sections
• Discount Stores• What is a discount store?• What are some examples? Provide some examples
in notes sections
• Specialty Stores• What is a specialty store?• What are some examples? Provide some examples
in notes sections14
TRADITIONAL RETAILERS CONTINUED
• Supermarket• What is a supermarket?• What are some examples? Provide some
examples in notes sections
• Convenience Store• What is a convenience store?• What are some examples? Provide some
examples in notes sections
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CONTEMPORARY RETAILERS
• Specialty Superstores• What is a specialty superstore?• What are some examples? Provide some
examples in notes sections
• Superstores• What is a superstore?• What are some examples? Provide some
examples in notes sections
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CONTEMPORARY RETAILERS CONTINUED• Warehouse Club• What is a warehouse club?• What are some examples? Provide some examples in
notes sections
• Factory Outlets• What is a factory outlet?• What are some examples? Provide some examples in
notes sections
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NON-STORE SHOPPING
• What is non-store shopping?
• What are some examples of non-store shopping opportunities? Provide some examples in notes sections
• Another example is vending machines. What are vending machines?
• What are some examples of vending machine shopping opportunities? Provide some examples in notes sections
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