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Key Terms: What is Marketing?


1.1
Term

Text Definition

marketing

Planning, distributing, pricing, promoting and selling of goods and services


to satisfy needs and wants.

Consumer
market

Everyone who might buy a product

Raw materials

Unfinished goods, usually marketed to businesses that process them or


use them in manufacturing.

Processed
goods

Sold as finished goods or semi-finished goods.

Target market

Any group of consumers to whom marketers want to sell to

Who markets? 5

Manufacturers
Politicians
Service business
Non-profit
Individuals

Types of Products-2

Goods
Services

Types of Goods or services-2

Industrial

Consumer
Raw Materials are:

Unfinished goods, usually marketed to businesses


that process them or use them in manufacturing

Processed Goods are:

Sold as finished goods or semi-finished goods.

Finished Goods are:

Products that no longer require processing

The difference between industrial


and consumer goods and services:

Consumer goods are non-industrial products


intended for personal use by the public.

A target Market is:

Any group of consumers to whom marketers want


to sell to

1.2

3 major steps of the Marketing Concept:


Identify an opportunity in a specific consumer or industrial market.
Ensure the opportunity has not been met
Use marketing to sell it
The importance of marketing activities changes with supply and demand. When the demand
is greater then the supply of goods, excessive marketing is redundant because the product
sells itself.
When there is more supply than demand, marketing becomes a major factor in success.
The industrial revolution (mass production)changed the balance of supply and demand
because before mass production, demand was usually greater than supply!!!
The internet has connected buyers and sellers globally.
1.3
Regional organization

Definition: can be within a city, province or

area

Example & Website:


Crest, Colgate in Quebec
International organization

Definition: sets up marketing and distribution


centers in foreign markets.

Example & Website: golf retailers, Nike

Brand management

Definition: assigns their specific brands to


different managers to be treated separatelymost popular

Example & Website: Proctor & Gamble

Distribution management

Definition: organizes marketing around the


way product or service is delivered.

Example & Website: Coke & Pepsi-Stores,


schools, vending machines
Marketing divisions can be organized
by:

region
country
brand
distribution
Combination

Research

Conducting surveys gathers:


Preferences

habits
lifestyle
competition

3 concerns of the product and development


team:
Make a product that meets needs
Can be delivered effectively
Competitively priced

Includes a products:
name
logo
slogan
Package design
Trademark

A company tries to have:


Enough to satisfy demand
Not more than they can sell

advertising
publicity

Product Development

Packaging
Pricing
Branding

Sale
Physical distribution
Inventory management

Storage
Promotion

1.5 Consumer and Competitive Markets


Complete as you read 19-20
A consumer market is

All of those consumers who are or may become interested


in a product or service and who have the means of buying
it

A competitive market is

All of the products or services that compete for customers


within a specific category

An aggregate market is

A market that includes everybody

A differentiated market is

One which targets consumers by some type of


demographic profile

Provide a specific example of the organization on the left and their target market
Org.

Example

Target

Clothing

Le Chateau

Young, fashion conscious,


aged 14-25. Early adopters,
leading edge image

Shoe retailer

Payless

All ages, affordable, wide


range of shoe types

Fast food

McDonalds

Any age around 4 and up,


people looking for quick fast
food

Recording artist

Luke Bryan

Young teens, mainly girls,


country fans

Non-profit organization

Salvation Army

Helping those who are in


need of food and shelter,
clothes etc.

Industry of your choice 1

Apple

Mainly teens, people who are


very tech savvy and into new
and improved things.

Industry of your choice 2

Love Pink

Teenage girls, fashion


conscious, ones that want a
good edge

1.6 Marketing Mix


4 Elements of the Marketing Mix

1.
1.
2.
3.

Product
develop
package
Brand

2.Promotion
1. advertise

2. Sales promotion
3. publicity
3.Price
4.Place
1. distribution
2. storage
3. channel

Use the following table to compare the marketing mix of the following companies. Explain your answer in
as much detail as possible. Use a Google search if possible to obtain more information.
Product
Quality

Place or
places
Location

Price
(higher/lower)

Promotion
What kind?

Pizza Pizza
vs.

Satisfactory

Seaway Mall

Lower

Sales
promotion or
advertise

Local pizza
place

Excellent

Mossioms
Pizzeria Highway 20

Medium

Publicity

McCains
Frozen Pizza

Good

Sobeys
South Pelham

Lower

Advertise

YMCA vs.

Good

Woodlawn
Road

Higher

Publicity or
advertise

local gym

Excellent

Kinsetic
SynergyNiagara street

Lower

Publicity or
Advertise

Local Sports
store vs.

Good

BucknersNiagara Street

Lower

Publicity or
Advertise

Sportcheck

Excellent

Seaway mall

Higher

Publicity or
Advertise or

Sales
Promotion

Used car lot


vs.

Satisfactory

Niagara Auto
Sales- Niagara
Street

Lower

Sales
Promotion or
Advertise

Excellent

David
Chevrolet
Niagara Street

Higher

Sales
promotion or
Publicity or
Advertise

Magic Cuts vs

Satisfactory

Scott StreetSt Catharines

Lower

Sales
promotion or
Advertise

Local
Hairstylist

Excellent

Salon UtopiaFonthill

Higher

Advertise or
Publicity

GNC vs.

Excellent

Montorose
Road- Niagara
Falls

Higher

Sales
promotion or
Publicity or
Advertise

Local health
store

Good

Lewis &
Krawll- Thorold
road

Medium

Publicity or
Sales
Promotion or
Advertise

Best Buy vs.

Good

Vansickle
Road,
St. Catharines

Higher

Publicity or
Advertise or
Sales
Promotion

Future Shop

Excellent

Geneva St.,

Higher

Publicity or

Chevrolet
dealership

vs.

The Source

St. Catharines

Satisfactory

Seaqay Mall

Advertise or
Sales
Promotion
Lower

Advertise or
Sales
Promotion

7 UP vs.
Mountain Dew
Coke vs.
Red Bull vs.
Gatorade
Marketing Plan=Goals+target market+4ps
Brand Strategy

To communicate the value of a product or service to the consumer

Value

Difference between perceived cost and perceived satisfaction

Value Equation

Total Benefits Total costs

A rule of marketing

In your words, explain what Perception is reality means. (Not in


Book)
Once a person believes something to be true it is very difficult to
change their minds, regardless of the facts or truth.

Distribution
Strategies

Push Strategy

1. Push
2. Pull
3. Combo

Products purchased as bargain, gift or impulse. Sell, market to


retailers, importers or wholesalers, not to end user. If they see it,
theyll buy it. In your face!

Pull Strategy

Attempts to increase consumer demand directly rather than rely on


retailers. Requires major advertising and promotion. Create need
or want by talking about benefits. Softer approach.

Combination

Pull strategy needs to combine with push, but push does not need
pull!

1. Classify the following marketing as being a push, pull or combination strategy.


2. Explain your answer.
Activity

Push, Pull, Combo

Explain

New packaging

Combo

It is a combo because when


consumers see that new
packaging theyre drawn
towards it because they
believe it is good quality but
also not actually being
involved in it their just
increasing the demand

Point of purchase materials

Push

Having the products at the


cash is like the pushing in
their face concept

Billboard Advertising

Pull

Having it on a billboard is not


requiring the consumers but
is increasing the demand

Taking a client golfing

Combo

Having the costumer with


you, You will mention the
products and push it upon
them as well as not having
the product with you but still
increasing demand

Coupons

Pull

Not actually involving the


costumer but having it
advertised to promote
business

In Store-Discounts

Push

Pushes the consumer to buy


the product even though they
may not need it

Moving the product closer to


the cash register

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