Marketing



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 What is Marketing? The Marketing Process

 

Marketing” is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy customer and organizational objectives.




Core Marketing Concepts


Needs:


Wants:


Demands:




Create Product or Service

Exchange, Transaction & Relationship

Exchange - is the trading of something of value between a buyer and seller so that each is better off after the trade. Marketers must offer value, satisfaction and quality in their product or service to create an exchange.

Relationship - Organizations must also create a relationship with that customer to create a transaction or exchange that will develop a market for that particular product or service.

Activity

 

1.     Think of a typical day, from morning to night. Think of what you ate for breakfast or lunch, what brand you use for toothpaste and what type of shoes are on your feet. List all of the brands you come across on a typical day. How does marketing affect you?




Product

How marketing affects you …

  1. Toothpaste




  1. Deodorant




  1. Soap




  1. Shampoo

































 

3.      Find one of your favourite products. This could be your a music player, your video game system or your favourite pair of jeans.



Why is this product your favourite?

What has made it successful?

When it was first introduced to the market, how did you find out about it? (Consider image, price, product functions)

          

 

4.     What forms of marketing should be considered when a new product is introduced to the market? {In your own words..What should a company do to make people aware of their product?}



 

5.     How important is marketing to an existing product (already being sold in stores or online)? For example, try this answer with Coca-Cola or Pepsi. Make sure you respond by giving your opinion, backed up with an explanation and an example.



 

6.     How does marketing change or assist the consumer (you) in his/her choice of product? Does marketing affect a consumer at all? Try to think; why do you drink Coke over Pepsi, or visa-versa


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