MAYNARD – Sports & Entertainment MarketingTOPIC Marketing Basics

ESSENTIAL QUESTION How can I satisfy customers?

NAME DATE

AIM:Competencies &

Related SOLs

Mktg8175.010 explaine marketing as it relates to the SER industriesMktg8175.011 Identify the components (P’s) of the marketing mixMktg8175.012 describe the marketing conceptMktg8175.013 explain the concept of target marketingMktg8175.014. Describe the marketing functionsEnglish 10.4 The student will read and interpret informational materialsEnglish 11.4 the student will read and analyze a variety of informational materialsEnglish 12.4 the student will read and analyze a variety of informational materials including electronic resources

HW: Study notes for quiz on Marketing Basics

Do Now: Marketing Basics pretest score – ____76.54________

Vocab ReviewMatch the terms with the definitions below (use text pages 6 – 11 as a resource).

1. Channel of distribution 2. Demographics 3. Market4. Marketing 5. Marketing concept 6. Marketing mix7. Needs 8. Target market 9. wants

a. the process of developing, promoting, & distributing products to satisfy customer’s needs and wants.b. idea that organizations need to satisfy their customers while trying to reach their organizations goals.c. consists of potential customer with shared needs who have a desire and ability to buy a product.d. occur when people experience a lack of basic necessities such as food, clothing or shelter.e. are things that people desire based on personality, experiences, or info about a product.f. a specific group of consumer that an organization selects as the focus of its marketing plang. are statistics that describe a population in terms of personal characteristicsh. combination of four basic marketing strategies, known as the 4 P’s –product, price, place and promotioni. the path a product takes from the producer to the consumer

1

2

MARKETING BASICS

CLASS LECTURE NOTES

Term Definition/Details

Marketing Process of developing, promoting, and distributing

products or services to SATISFY customers

needs and wants

Marketing concept** Satisfy customers

Satisfy Customers

Think Pair Share

On your own, describe what it means for a customer to be satisfied:

*For them to get what they had asked for in your product

Discuss your description with a partner, be prepared to share with the class

Market All potential customers to share warrants and willingness to buy product

customer Buys the product

consumer Uses the product

Customer vs. Consumer

Think Share

On your own think of an example of a customer who is also a consumer (be

prepared to share with the class)

*If your product is food you are a customer and consumer

industrial Makes products to resell to consumers

Goods Tangible products, ex. Sports equipment

Services Intangible products, ex. Live concert

Goods & Services

Think Share

On your own think of an example of a company who sells both goods and services

(be prepare to share with the class)

*BestBuy, because they sell computers and have geek squad to help you with

the maintance

Approaches to sell Mass marketing & Market Segmentation

Market segmentation 1. Demographics – age, gender, income, job, ethnic background, education

2. Psychographics – attitudes, lifestyles, behaviors

3. Geographics – local, regional, national, global

3

4. Product benefits – ex. Shampoo for those with color treated hair vs. dry hair

Mass marketing Appeal to all audiences for basic products ex. Soda, chewing gum

Alike and Different On your own, describe yourself in the following categories

Age:17

Gender: male

Ethnicity: white

Hobbies: football, sports, and outdoor activities

Music Style: rock, and some country

Create a list of your 10 favorite products

1. 360 games

2.shoes

3. movies

4.clothes

5. guns

6.footballs

7. tennis racket

8. hats

9.basketballs

10. sandles

With a partner create the T chart below comparing how you are alike and how you

are different

ALIKE DIFFERENT

*White *Cowboys

*Music *Football

*Mrs. Maynard’s class 2nd Year *Rock

Create a list of 5 products that you both like and could be “mass marketed” to both

of you

1. 360 games

2. movies

3. cell phone

4. Facebook

5. Ipod

4

Target Market** Focus all mktg decisions on a specific market of customers

Target Market

Pair Share

With a partner, discuss

Who do you think the target market is for following companies?

Food Lion – Family and middle income

Harris Teeter – couples and middle high income

Game Stop – single mid teens and up; low income

Best Buy – family and middle up income

Taco Bell – couples and all incomes

McDonalds – family and low income

What clues can we find to help us?

*By what the place is best known for; and it’s whom I saw when I go to those

places

Marketing Mix** 4 P’s – Product, Place, Price, Promotion

Positioning Get people to think of a product in a certain way ex. Axe body spray – cool,

attractive

Positioning Pair Share 1 Discuss with a partner:

How is Gatorade trying to position its product?

*Directing it toward sports

What clues can you find?

*Commercials, advertisements, and where Gatorade came from

Positioning Pair Share 2 Discuss with a partner:

How is Dentine Ice trying to position its product?

*Twenties and up; middle high income

What clues can you find?

College people always have them

Needs Basic necessities such as food, clothing, shelter

Wants Things people desire, such as Gatorade (rather than just water)

Levels of Needs With a partner, come up with 2 – 3 products that meet the needs of each level of

5

Pair Share

the pyramid:

Self actualization – 360 and News

Esteem – Nike shoes and Jordan bags

Love/Belonging – Wii and Trogans

Safety – Home lock security alarms, and Smith & Wiston

Physiological - Deer park, and S.V milk,

Buying motives The reasons you buy a product or service

Emotional motives Buying a product for reasons such as feelings and social status

Rational motives Buying a product based on factual information and data

Trends in MarketingImpact of technology Faster distribution

EcommerceSocial responsibility Green products

REVIEW:Identify the components of the marketing mix –

ProductPrice

PromotionPlace

Describe the marketing concept – Satisfy

Customers

Explain the concept of target marketing – Group of

CustomersFocus

Decisions

ESSENTIAL QUESTION – How can I satisfy customers?

1. Target market – know ___who they are, make decisions based on them

2. Marketing Mix/4 P’s

a. Product - quality products

b. Price -low price/value

c. Promotion - show them products they need and want

d. Place - convenient

6

7

Reading for Understanding

Identify the 4 P’s of the Marketing Mix

Use the words below to complete the following notes outline

Marketing mix 4 P’s Product

Price Place Promotion

The Marketing mix is a combination of four basic marketing strategies, known as the 4 P’s – Product, Price,

Place, and Promotion.

To be effective, all Promotion in a marketing plan must focus on the target market.

Price decisions involved the goods, services, or ideas used to satisfy consumer needs. Designing, naming and

packaging a Product are major considerations. Example – Nike decides which styles of shoes to make and how

to package them.

Marketing mix also influences customer’s buying decisions. Factors to consider in pricing a product include the

cost of making the product, competition and the price the consumer is willing to pay. Example – Nike Prices its

running shoes from $70 to well over $100 depending on the target market it is trying to reach.

Place decisions involve making the product available to the customer. Thus, marketers must determine how and

where customers shop. For example, Nike products are sold at a retail store, online or by telephone.

Place decisions involve how the goods or services are communicated to the consumer. Products may use any

combination of advertising, sales promotion, publicity, and personal selling. For example, Nike uses ad is

magazines and commercials during sporting events along with its famous Just Do It slogan and endorsements

from athletes.

Describe the marketing concept

Use the words below to complete the following notes outline

Marketing concept Satisfy

The Marketing concept is the idea that organizations need to Satisfy their customers while also trying to reach

their organizations goals. Therefore, to be profitable, businesses must focus their efforts on customer’s needs

and wants.

8

2.Identify the 4 P’s of the Marketing Mix and Describe the Marketing Concept

Create a presentation, video, audio, comic strip, etc. with the following:

o the 4 P’s of the Marketing Mix

o pictures that describe each of the 4 P’s

o the definition for the Marketing Concept

o pictures that describe the marketing concept

9

10

Reading for Understanding

Explain the Concept of Target Marketing

Use the words below to complete the following notes outline

target market mass marketing demographics

Satisfying customers is not an easy task. For example, each member of your

family may have a need for a pair of athletic shoes. Would everyone want exactly

the same shoe? Probably not, each type of shoe is designed for a smaller group of

people within the larger market for athletic shoes. This smaller or similar group is

called a target market. A target market is a specific group of consumers that an

organization selects as the focus of its marketing plan.

Mass marketing involves promoting products with one key message that is

directed to everyone.

Demographics are statistics that describe a population in terms of personal

characteristics. There are many characteristics, but some of the most common target

market categories include age, income, occupation, gender, ethnic background and

education levels.

11

3. explain the concept of Target Marketing

Choose a company of your choice and describe its target market

COMPANY GameStop

Who do you think the target market for this company is? (highlight your answers)

DemographicsAge range: Under 6 6-11 12-19 20-34 35-49 50-64 65+Gender: Male Female Family Size: 1-2 3-4 5+Family Lifecycle: young, single; young married, no kids; young, married w/ kids Older, married w/ kids;

older, married, no kids under 18 older, singleIncome Level: High Middle LowJob: professional managers sales technical office farmer student retired homemaker unemployedEthnicity: Caucasian African American Hispanic AsianOther__________Education: High School Some College Bachelors Masters +PsychographicsSocail Class: lower class working class middle class upper middle upper upper Personality: Happy Critical Detailed Organized Artistic Other__________Lifestyles: Athlete Gardener Shopper Music Lover Other_________GeographicsLocation: Continent__North America_ Country_US_ Region _East Coast_ City _Charlottesville, VA_Climate: cold warm hot dry wetDensity: urban suburban ruralProduct BenefitsOccasions: regular specialBenefits: quality service cheap convenientUser Status: non user ex-user potential user first-time user regular userUsage rate: light user medium user heavy userLoyalty status: none medium strong absolute

Options:

Document - Write a detailed target market description

Presentation - Create a collage of pictures describing the company’s target market

Video/ Audio - Perform a song that describes the company’s target market

12