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Introduction To Marketing

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Introduction To Marketing

Uploaded by

elizamackenzie95
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Market

INTRODUCTION Trends

TO
MARKETING
Unit 2 - Business Marketing Feedback
Ads
ASSESSMENT ITEMS

IN-CLASS MARKETING COMPARE &


CONTRAST REPORT
TEST - 30% PLAN - 35% - 35%

Students will develop a stall Students will select


This test will cover the for Founders Day and be two major marketing
marketing theory from expected to produce a campaigns in the same
Weeks 1-8 Marketing Plan for the industry and compare
Due Wk 9/10 business that covers market their successes and
research, analysis,
failures in
segmentation and the
marketing mix. implementation.
Due T2 Wk 2 Due T2 Wk 17/18
WHAT
IS
MARKETING ?
MARKETING
DEFINITION
Marketing is the process of planning and
executing the conception, pricing, promotion and
distribution of ideas goods and services to create
exchanges that satisfy individual and
organisational objectives. (American Marketing
Association)

A simplified definition - marketing is a total


system of interacting activities designed to
plan, price, promote and distribute products
to present and potential customers.
BRAINSTORM AS
MANY TERMS
RELATED TO
MARKETING AS
POSSIBLE IN PAIRS.
CAN YOU GROUP
THESE TERMS?
WHAT IS THE
STRATEGIC ROLE OF
MARKETING FOR A
BUSINESS ?
STRATEGIC
ROLE OF
MARKETING
Generally, the overarching goal of businesses is
profit maximisation. Therefore, the strategic role
of marketing is to develop a combination of
strategies that can be used to maximise sales,
increase brand awareness and improve customer
satisfaction.

Failure to take advantage of strategic marketing


can result in business financial disaster.
Companies develop marketing plans in order to
develop and refine their strategies.
FUNCTION 2 SATISFYING CUSTOMER WANTS

OF
MARKETING The core of marketing is satisfying
existing customer wants, which should
lead to repeat sales.

PLANS
OUTLINES THE STRATEGIES TO DEVELOP REVENUE GENERATING
1 BE USED TO BRING THE BUYER 3
ACTIVITY
AND SELLER TOGETHER

The business needs to be able to


identify: Marketing is the revenue-generating
• where the market is activity of any business. Nothing is
• who will buy the product achieved until a sale is made.
• why they will buy the product
• how often they will buy the product.
DOES
MARKETING
FUNCTION IN
ISOLATION
WITHIN A
BUSINESS?
INTERDEPENDENCE
OF MARKETING IN
BUSINESS
To be effective, therefore, the marketing concept
must be embraced by all employees of the
business, not only by those involved in marketing
activities. The marketing manager cannot work in
isolation and often has to work with other
managers in the business to ensure the success of
the marketing plan.
EXAMPLE OF THE
INTERDEPENDANCE OF MARKETING
For example, if the success of the marketing plan means having a good or
service ready by a certain date, the operations plan will need to be in place to
make sure that happens. If, for example, a business makes Christmas
puddings, it is no good delivering the puddings after 25 December! Financial
planning must also ‘connect’ with the marketing plan. It is important to
remember that marketing costs money; and finances must be available if, for
example, the business wishes to embark on an expensive advertising
campaign. The marketing manager will also have to work with the human
resource manager to ensure that the right staff are employed to create the
good or service that is desirable to customers.
Questions - answer in full sentences
Identify three marketing strategies that may have influenced
you to purchase a good or service.
Define the term ‘marketing.’
Distinguish between ‘selling’, ‘advertising’ and ‘marketing.’
How has the definition of marketing provided in this
presentation been different to your previous understanding
of the term?
Questions - pick one of the following questions and
respond in a paragraph

‘Businesses that neglect the importance of marketing will


experience diminished sales and reduced profits.’
Discuss and evaluate this statement.
OR
‘The marketing manager cannot work in isolation and often
has to work with other managers in the business to ensure
the success of the marketing plan.’
Discuss and evaluate this statement.
Try using one of these paragraph structures
INTRO TO MARKETING

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