05.01.09 Marketing_Lessons_Student_09

05.01.09 Marketing_Lessons_Student_09 - onal Marketing 10...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Worksheet onal Marketing 10 July 2001 Marketing •The role of marketing •Identification of the target market •Overview of the marketing mix — product, price, promotion, place
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
The Role of Marketing The key role of marketing is to identify consumer demand and communicate to customers how the products or services of the business can satisfy this demand. Just because someone invents a new product does not guarantee customers will buy it, without some marketing customers may not be aware that a product exists. Total Solutions’ Snapshot page 232 Outline the benefits of a marketing campaign ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ Which strategies would have the greatest potential? ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________ What is the key role of marketing? Page 233 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 more simplified definition is that marketing is a ‘total system of interacting activities designed to plan, price, promote and distribute products to present and potential customers’.
Background image of page 2
To be successful in marketing, you need to understand your customers. There are several key concepts. After each concept, write in the key question Identifying the nature and characteristics of the product or service wanted by the customer. Key Question: what is the customer looking to find in a good or in a service? Anticipating the changing expectations of consumers. Key Question: What will the customer want in the future? Satisfying your customers. Offering value. Key Question: Does the customer think the price and quality of that good or service is better than that of its competitors? Ensuring profitability. Key Question: Will I make a profit considering the price of the good or service and my competitors? Identify the target market for the following products, and suggest a good location to sell the product: Product Target Market Selling Location Eg. PS3 Teenagers Technology stores, department stores I-pods Early Teenagers – Young Adults MAC Store, Department stores, Online Raleigh 21 speed bike Late teen – young adult, men Bike Shop, Car Shops, Online Kosher food
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 13

05.01.09 Marketing_Lessons_Student_09 - onal Marketing 10...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online