Unit 3 Introduction to marketing

Lesson 1

Overall Unit Objectives

Aim is to provide an introduction to marketingBy the end of this unit students will be able to• Define the role of marketing in organisations• Use market research to aid market planning• Explain how and why customer groups are

targeted• Develop a coherent marketing mix for a

chosen product

Lesson Objectives

• Explain the difference between marketing and advertising• Describe how a business aims and objectives effect it’s

marketing objectives.• Illustrate the difference between marketing and

promotion • Outcome:-• Create a glossary of keywords for the unit• Produce a Venn diagram, which illustrates what marketing

and advertising are and their similarities and differences

Task 1

• Go to my computer\U:\Business Studies\Students\BTEC Level 3 Sept 2010 onwards\Unit 3 Introduction to Marketing\Assignment 1\Glosary

• Carry out research to find out the meaning of each keyword or phrase.

• You should look at least 3 sources of information for each keyword and then devise your own definition

• Write your definition in the end column• File Save as and call it Marketing glossary and save

Referencing Chapter from a BookMORT, D. (2000) The way ahead. In: BUSHELL, T. (2004) Sources of Education. 4th ed. Gower. London. pp.153-182

Web pageLEARNING AND INFORMATION SERVICES (2002) Guide to the Harvard Referencing

System. Available from: http://www.ljmu.ac.uk/lea/78127.htm [Accessed: 10th July, 2004

Quotations• 1. “…their pay, including those referred to as fringe…” Titmuss (1958, p.51) • 2. Titmuss (1958) said controversially that: • their pay, including those referred to as fringe…pensions for employees, wives and

dependants: child allowances; death duties; travel; entertainment; health…and an incalculable variety if benefits of kind ranging from the most tangible. (p.51)

Full guide can be found on U:\Business Studies\Students\HarvardReferencingQuickGuide

Key Skills

• Effective use of ICT• Research Skills• Note taking, • Comprehension of words • Showing application and understanding• Noting sources• Independent working• Peer support• Efficiency and effectiveness

Task 2

• Keyword Bingo• Give out cards• Write down 6 random keywords/phrases• Teacher reads out definition of key words• If Student has keyword written on their card

marks it off.• Winner is the first to get all the keywords on

their card

What is Marketing?

• The right product in the right place at the right time at the right price (Adcock)

• A social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Kotler)

• Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably(the Chartered Institute of Marketing)

Marketing is

• About meeting the needs and wants of customers.

• It’s about understanding customers and finding ways to provide products or services they want at a price they are willing to pay.

• Knowing who your customer is (people)• What they want (product)• How much they will be willing to pay (price)It is a business wide function

Examples of marketing?

• Who is the following product aimed at?

• How would you market it?

The Connection To Advertising• What is Advertising?

Advertising is a single component of the marketing process. It's the part that involves getting the word out concerning your business, product, or the services you are offering. It involves the process of developing strategies such as ad placement, frequency, etc. Advertising includes the placement of an ad in such mediums as newspapers, direct mail, billboards, television, radio, and of course the Internet. Advertising is the largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind.

What is marketing?

• What is marketing?The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Think of marketing as everything that an organization does to facilitate an exchange between company and consumer.

Examples of marketing?

• Who is the following product aimed at?

• How would you market it?

Task 3

• Working in groups of 3 create a Venn Diagram• To show the:- difference and similarities

between marketing and advertising

Key Skills

• Analysing• Evaluating• Breaking down• Illustrating• Present• Peer support• Independent learning

Aims and objectives

• Broad aims of a business are to :-• Survive or • GrowNFP business may also :-• Provide a service• Good value of money• Meet quality standards

Marketing aims and objectives

• Are different to the aims and objectives of the business but must be linked to them

• the marketing aims will be set having regard to the business overall aims and objectives

• In fact will be set to enable the business to meet it’s overall objective

• E.g if aim is to increase market share by 10 % then marketing may set objectives to increase sales force, increase spending on advertising in order to achieve this aim.

Marketing Objectives

• Market leadership- business with the largest market share for a product

• E.g O2 leading mobile network provider in UK but can buy from Vodaphone, Network 3

• Brand awareness -overall brand or product within a brand e.g or Reebok trainers

• Customer Perceptions -can effect their decision to buy a company products e.gor

Plenary

• What is the difference between marketing and advertising?

• How do a business overall aims and objectives effect it’s marketing objectives?

• What are the 3 main marketing objectives of a business?

Homework

• Complete your glossary• Print out ready to hand in at start of lesson