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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, foot wear made to

provide style for any occasion

Fast food

McDonalds

For Ages +2. Providing food

to/for people on the go.

Recording artist

Maroon 5

Teens and Young Adults.

Modern Rock/Pop Music.

Non-profit organization

Big brothers Big Sisters

Children and Adults. Every

child who needs a mentor, is
given a mentor.

Comfort Food

Devas Healthy Food Cafe

All ages. Provide people with

homemade healthy versions
of family recipe dishes.

Tattoos and Piercings

Heart and Huntington

+13. To provide piercing and

tattooing artistry to people
who wish to do so.

1.6 Marketing Mix

4 Elements of the Marketing Mix

1.
1.
2.
3.

Product
develop
package
Brand

1.
2.

2.Promotion
advertise
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

Welland, On

Lower
Range:
$0.75 - $25

3 Medium
Pizzas+ 2
Toppings
each+6 Cans
of Coke

Local pizza
place

Excellant

Matteos
125 East Main
Street,
Welland, ON
L3B 3W5

Higer
Range: $2 $26

N/A

McCains
Frozen Pizza

Satisfactory

Sobeys
609 South
Pelham Road
Welland, ON

Lower

McCain
Rising Crust
or
International
Pizza on sale
for $4.49

YMCA vs.

Good

300
Woodlawn
Road

Higher
Membership
Prices: $29.50

N/A

800 Niagara
Street,
Seaway Mall
L3C 5Z4

Welland, ON

- $141.50

local gym

Excellant

Top Dawgs
129 Hagar
Street,
Welland, ON
L3B 2L6

Lower
$30
Membership
for a Month

Local Sports
store vs.

Good

Source For
Sports
545 Niagara
St, Welland,
ON L3C 1L8

Lower

Sportcheck

Excellent

800 Niagara
Street r1,
Welland, ON
L3C 5Z4

Higher

Used car lot

vs.

Good

Niagara Auto
Sales
1031
NIAGARA ST
Welland, ON
L3C 1M5

Lower

Excellent

915 Niagara
Street,
Welland, ON
L3C 1M4

Higher

Chevrolet
dealership

Pay for 7
Months and
get 3 Free

SELECT
WINTER
JACKET & PANT
CLEARANCE
30%-50% OFF*

N/a

2010 Chevrolet
Cobalt LT 2DR,
LOADED,
ALLOYS, LOCAL
TRADE

$10,675
Price+ Sales Taxes

Magic Cuts vs

Good

Northtown

TBD

N/A

Plaza, 325
Thorold Road,
Welland, ON
L3C 3W4

Local
Hairstylist

Elan Vitale
Salon & Day
Spa

Higher
The Little
Princess (Age 12
and under)

172 West Main

St, Welland, ON
L3C 5A2

GNC vs.

Excellent

Shape & Polish

on fingers and
toes and basic
makeup
application.

Higher
7555
Montrose Rd,
L2H2E9,
Niagara Falls,
On

MusclePharm
Shred Matrix

Price: $41.99
Member Price:
$39.99

Local health
store

Good

Health Wise
Seaway Mall,
800 Niagara
Street,
Welland, ON
L3C 5Z4

Higher

N/A

Best Buy vs.

Good

420 Vansickle
Road
St. Catharines,
ON

Higher

Buy 2 Movies,
Save 30%
Or $14.99
Each

Future Shop
vs.

Excellant

7555 Montrose
Rd., Unit 5A
Bell, Niagara
Falls, ON

Higher

Save up to
20% on all
Energy Star
qualified

major
appliances.
800 Niagara
St. North, Unit
K12, Seaway
Mall Po,
Welland, ON
L3C 5Z4

Lower

Needs
Improvement

301 Thorold
Road
Welland, ON

Lower

Mountain Dew

Needs
Improvement

301 Thorold
Road
Welland, ON

Lower

Coke vs.

Needs
Improvement

301 Thorold
Road
Welland, ON

Lower

Red Bull vs.

Needs
Improvement

301 Thorold
Road
Welland, ON

Lower

Gatorade

Excellant

301 Thorold
Road
Welland, ON

Higher

The Source

Satisfactory

7 UP vs.

NIKON D3200
24.2MP DSLR
CAMERA
BUNDLE WITH
18-55MM VR II
LENS, DX 55200MM VR LENS,
AND BONUS
GADGET BAG BLACK

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

1. Push
2. Pull
3. Combo

Push Strategy

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

Pull

Using a new packaging to

draw the consumers in.

Billboard Advertising

Push

If they see it on the billboard

theyll buy it.

Taking a client golfing

Combination

Pulling the client in to get the

client to like the product and
then pushing the to do so.

Coupons

Pull

Using advertising to get the

consumer to buy their product
even if its at a reduced price.

In Store-Discounts

Pull

Reducing the price to get

business from consumers.

Moving the product closer to

the cash register

Push

If its closer to the cash

register their more likely to
pick one up.

Point of purchase materials