Essential Standard 3 00 Understand the role of

Essential Standard 3. 00 Understand the role of marketing in business. 1

Objective 3. 02 Buying Behaviors 2

ESSENTIAL QUESTIONS �What are the steps of developing a marketing strategy? �How are the major sources of consumer information classified? �How are shopping locations classified? 3

Marketing Strategy �MARKETING STRATEGY how a business will meet its goals of satisfying customers �TARGET MARKET consists of a group of people that have similar needs and wants. �MARKETING MIX Are the 4 Ps of Marketing(product, price, place, and promotion) 4

�Office Depot sells office supplies and copying services. �It promotes its supplies and services to customers that operate a home office or a business office. 5

Major Sources of Consumer Information 6

Media Sources Provide specific information about products and services. �Types ◦ Print of media sources: Examples �Magazines � Newspapers ◦ Broadcast Organizations Examples �Radio �Television ◦ Internet 7

Government Agencies �Inform consumers and may handle consumer questions. �Types ◦ Federal ◦ State ◦ Local 8

Business Sources �Product Labels: ◦ Product information ◦ How to care for product ◦ Where product was made ◦ Product size 9

Business Sources ◦ Customer Service Departments focus on assisting customers. ◦ Better Business Bureau (BBB) provide facts about products or services The Better Business Bureau says bogus emails with a link that can give someone access to anyone's computer are showing up across the region. 10

BUSINESS SOURCES �United States Department of Agriculture (USDA) �Federal �Food Trade Commission (FTC) and Drug Administration (FDA) 11

SHOPPING LOCATIONS 12

SHOPPING LOCATIONS �Convenience Store Sale items needed QUICK AS POSSIBLE �Factory Outlets provides high -quality products at low prices 13

Traditional Retailers � Department Stores � Discount Stores � Specialty Stores ◦ What is a department store? ◦ What are some examples? Provide some examples in notes sections ◦ What is a discount store? ◦ What are some examples? Provide some examples in notes sections ◦ What is a specialty store? ◦ What are some examples? Provide some examples in notes sections 14

Contemporary Retailers �Specialty Superstores ◦ What is a specialty superstore? ◦ What are some examples? Provide some examples in notes sections �Superstores ◦ What is a superstore? ◦ What are some examples? Provide some examples in notes sections 15

Non-Store Shopping � What is non-store shopping? • What are some examples of non-store shopping opportunities? Provide some examples in notes sections � Another example is vending machines. What are vending machines? • What are some examples of vending machine shopping opportunities? Provide some examples in notes sections 16