Johnson & Johnson• Research indicates that moms go online to get

information about their newborn babies. Research also found that babies who are Hispanic represent 25 percent of babies born in the United States.

• What is the opportunity for Johnson & Johnson?• How might you as the marketing director take

advantage of such an opportunity?

Review…• What is a market?• The 2 large categories of markets?• What is the TARGET market?• What’s the main focus of the marketing

concept?• What is CRM? What are the 3

responsibilities?

HAND OUT

THE IMPORTANCE OF MARKETING

Economic Benefits of Marketing (falls under the market planning core function)

• TLW describe the benefits of marketing• TLW explain the concept of

utility• TLW cite examples of types of

utility

• Based on what we have talked about, can you see HOW

marketing is advantageous to US, the consumers?

Economic benefitsof marketing…

• 1. new and improved products!• Why? How??

• 2. lower prices!•Why? How? What would

supply and demand have to do with this? What about new competitors?

Economic benefitsof marketing…

• 3. economic utility (5)• The functions of marketing add

value to a product. This added value in economic terms is called utility.

Economic benefits of marketing…

I. The Importance of Marketing A. Economic Benefits

1. New and improved products 2. lower prices 3. economic utility

a. form utility b. place utility c. time utility d. possession utility e. information utility

Market and Marketing identification

• Consumer vs. Organizational (B2B)

Market Share: smart phones

iPhoneDroidBlackberryother

What could cause a company’s market share to change?

Market Segmentation

• Marketers segment (or break down) a particular market into smaller pieces so that the product or service can appeal to each section of that market.• Think about potential cell phones

customers…

cell phone segmentation(for a company)

basic usersmart phone userelderlyyoung childinstitutional user

TARGET markets

C R E A T E • I will give you a good.•Define two target markets.•Create an ad for each.