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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

Main customers, females

from ages 18-44.

Fast food

McDonalds

Friendly, and fun for

everybody to enjoy.

Recording artist

Beyonce

Females from 18-24, males

from any age.

Non-profit organization

Open Arms Mission

Youth, single mothers, and

disadvantaged individuals.

Industry of your choice 1

American Eagle

Any gender of the ages 1525.

Industry of your choice 2

Twitter

Teenagers and Adults, ages

14-25.

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.

Develop

Seaway Mall.
Niagara St.,
Welland

Lower

Advertise

Local pizza
place

Develop

Vincents.
Thorold Rd.,
Welland

Lower

Advertise

McCains
Frozen Pizza

Package

Sobeys.
South Pelham
Rd., Welland

Higher

Publicity

YMCA vs.

Brand

Woodlawn Rd.,
Welland

Lower

Sales
Promotion

local gym

Brand

Top dawgs.
Hagar St.,
Welland

Lower

Advertise

Local Sports
store vs.

Package

Goods Sports
Excellence.
Southworth St.,
Welland

Lower

Advertise

Sportcheck

Brand

Seaway Mall.
Niagara St.,
Welland

Higher

Publicity

Used car lot

vs.

Develop

Niagara Auto.
Niagara St.,
Welland

Lower

Sales
Promotion

Brand

Niagara St.,
Welland

Higher

Publicity

Magic Cuts vs

Package

Thorold Rd.,
Welland

Lower

Publicity

Local
Hairstylist

Package

Manhattan.
Cross St.,
Welland

Lower

Sales
Promotion

GNC vs.

Brand

Montrose Rd.,
Niagara Falls.

Higher

Advertise

Local health
store

Package

Health Wise.
Niagara St.,
Welland

Lower

Sales
Promotion

Best Buy vs.

Brand

Glendale Ave.,
St. Catharines

Lower

Publicity

Future Shop
vs.

Brand

Montrose Rd.,
Niagara Falls

Higher

Publicity

The Source

Brand

Niagara St.,
Welland

Lower

Publicity

Chevrolet
dealership

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

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

Push

If someone sees new

packaging they will purposely
order something to receive
the new packaging.

Point of purchase materials

Pull

If material is needed, it will be

able to be bought.

Billboard Advertising

Push

When people drive by

billboards they catch a
glimpse of an object that they
will be interesting in looking
for because it caught their
eye.

Taking a client golfing

Push

Its not really needed but

more of being able to go
golfing rather than needing to
go golfing.

Coupons

Combo

Its a discount on certain

items that a person might
need and if shown they are
most likely to purchase it.

In Store-Discounts

Pull

It leads to people being able

to get what they need but
also spending less than they
thought.

Moving the product closer to

the cash register