Introduction to Marketing What is Marketing the activity

Introduction to Marketing

What is Marketing? • “…the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. ” o American Marketing Association (AMA)

What is Marketing? • “…the process by which a firm profitably translates customer needs into revenue. ” o Mark Burgess—Managing Partner, Blue Focus Marketing • “…how you tell your story to attract customers, partners, investors, employees and anyone else your company interacts with…It’s the way that everyone interacts with your brand. ” o Jeff Cutler—Executive VP and GM, Vitals. com

Our Definition of Marketing • “Marketing is communicating an idea to an audience. ” • Common Themes o Providing a compelling reason to buy something or take action

Our Definition of Marketing • “Marketing is communicating an idea to an audience. ” • Common Themes o Providing a compelling reason to buy something or take action o Getting hooked on a product or a service o Brand Loyalty

Our Definition of Marketing • “Marketing is communicating an idea to an audience. ” • Common Themes o Providing a compelling reason to buy something or take action o Getting hooked on a product or a service o Brand Loyalty o Ethics in Advertising o Marketing Careers

Marketing Careers • Advertising, Promotions, & Marketing Manager o Median Salary: $108, 260 • Advertising Sales Representative o Median Salary: $45, 350 • Graphic Designer o Median Salary: $43, 500 • Market Research Analyst o Median Salary: $60, 570 • Meeting, Convention, & Event Planners o Median Salary: $45, 260

General Goals for Companies • Create an association and identify with an image

General Goals for Companies • Create an association and identify with an image • Want customers to feel special or exclusive • Consumers buy products and services when they feel like they’re getting value

Buying Motives Emotional Motives • Power • Love • Peer acceptance • Label recognition • Prestige • Pride • Pleasure • Aesthetic appeal or beauty Rational Motives • Saves time • Saves money • Makes life easier • Improves health • Safe or improves safety • Durable • Well-made • Fulfills a physical need

Branding What’s the Message? • Branding: burning an image into the consumer’s mind o o o o Logos and Images Slogans Mascots Spokespeople—endorsements Voices Strategic Partnerships Use of special guest appearances

Rules for a Successful Logo • It is usually: o Very simple in design (simple drawing or symbol) o Easy to understand, even at a distance o One or two colors o Presented in a simple way and is easy to read o Unique and recognizable (vs. competition) o A representation of the company’s personality and worth

Logos • What makes a logo easier to remember than others? Creative Logos

Slogans or Taglines • Maybe she’s born with it… o Maybelline • You’re in good hands o Allstate • Eat fresh o Subway • The happiest place in the world o Disney World • That was easy o Staples

Mascots

Spokespeople/ Endorsements • Why do businesses or organizations enlist individuals to serve as “official spokesperson” for them? • Williams Shatner—priceline. com • Michael Jordan—Nike, Hanes, Wheaties, etc. • Ellen De. Generes—American Express • Can you name others?

Strategic Partnerships • Strategic Partnerships: when two separate companies work together so that both benefit financially o Similar target markets • Examples: o Apple and Nike o Pepsi and NFL o Mc. Donalds and Disney

Special Guest Appearances • Who’s seen a famous person (musician, celebrity, athlete) somewhere and remember the person and location? o The location becomes part of the experience • Who would you suggest for the Grand Opening of Dicks Sporting Goods and Field & Stream at Market Place Mall?

Follow a Product Writing Assignment • Choose a product that you are a fan of and write about it each week as it relates to an aspect of marketing. • Assignment 1: Branding, Motives o Choose a product o Explain the Logo, Slogan (tagline), Mascot for brand (or product); o State the Buying Motives/Incentives to purchase products