Make a list Name as many specific brands Gym Shoes Soda Fast Food Restaurants Cars Candy.

Make a list• Name as many specific brands • Gym Shoes• Soda• Fast Food Restaurants• Cars• Candy

Continue• What type of people do they think of

when they think about each of the brands that you wrote down?• Can you think of an advertisement for

that product?• Where could you buy the product?

COMMERCIALS• What are you favorite commercials?• Write them down• Are there any celebrities in them?• Why do companies spend a large sum of

money to have famous people endorse them?

Marketing Basics

• Marketing-the creation and maintenance of satisfying exchange relationships• Creation-product development• Maintenance-continues even after the

consumer buys the product• Satisfaction-meets the needs of both parties• Exchange Relationships-both parties get

something of value

Marketing Mix• Four P’s• Product• Placement (Distribution)• Price• Promotion

4 P’s Continued

• If you don’t have a product a customer wants the rest of the 4 P’s don’t matter

Product• Is what the business offers customers

to satisfy needs.• Athletic shoes, games, video rentals

Placement (Distribution)

• Involves how we make the product available to the consumer

Price

• The amount the customer is willing to pay for a product

Promotion

• Involves the ways to encourage customers to purchase products and increase customer satisfaction• Advertising, publicity, personal

selling, and public relations

Favorite Stores

• How does it satisfy your needs?

Activity• Backpack• Baseball Hat• Coffee Mug• Seat Cushion• Sweatshirt • T-Shirt• Watch• Jersey• Program• Framed Picture

Key Marketing Functions• Product/Service Management• Distribution• Selling• Marketing-Information Management• Financing• Pricing• Promotion

Product/Service Management• Designing, developing, maintaining,

improving, and acquiring products or services so they meet customer needs.

Distribution• Determining the best way to get the

product to the consumer• Personal selling• In store• On line• Mail order

Selling• Direct and personal communication

with customer• Satisfy current needs and anticipate

future needs

Marketing-Information Management

• Gathering info about customers• Surveys• On-line forms• Warranty registrations• Those annoying people in the mall

Financing• The budget to sell the item• The ways to assist customers in

purchasing your product• 0% financing

Pricing• Communicating the value or cost of

goods• High price and quality• Low price and high volume• High price with low volume

Promotion• Using advertising and other forms of

communication to inform about products• Commercials• “Cubs Floppy Hat Day”• “McDonald’s Happy Meal Toys”

List

• List an Example of each the seven functions

Key Marketing Functions• Product/Service Management• Distribution• Selling• Marketing-Information Management• Financing• Pricing• Promotion

TARGET MARKET

• Specific group of people you want to reach• What do you think the typical College Football target

market is?• Demographics – needs to be determined before the

company tries and sells a product• age, marital status, gender, educational level, attitudes and

beliefs, and income.

Mass Market vs. Target Market

• MM-using a single marketing strategy or plan to reach all consumers• Started to change in the 50’s and early 60’s• Chewing Gum

• TM-focusing all marketing decisions on the specific group of people you want to reach• Segment the market into smaller groups• Use the 4 P’s to focus on those groups

Segmentation

• Dividing the total market into smaller groups of people who share specific needs and characteristics

• When marketing sports and entertainment the most important characteristic of a segment is disposable income

Marketing Strategies

• Sports Logos? Why?• New Sports?• Gross Impression• Marketing throughout the event, movie, TV shows

• Timing