Pg 1 A+B from PowerPoint #13, Pg 2 A+B from Internet Research
MARKETING CONCEPTS- Business need to know their customers’ wants and needs in order to make a profit.
MARKET- a group of customers who share common wants and needs, and who have the ability to purchase a particular product.
MARKETING- the process of creating, promoting, and presenting a product to meet the wants and needs of consumers.
TARGET MARKETING-detailed research on markets to find and analyze potential customers in their market
7 FUNCTIONS OF MARKETING:
Financing- Money to start and keep business moving forward
Pricing- What to charge for a particular product?
Market-Information Management- To learn and study your target market, making an informed decision requires good research and development.
Product/Service Management- obtaining information, developing, and maintaining products.
Promotion- Communication through media> advertising
Distribution- moving goods and services from one business to another
Selling- Retailers or final sales person of a product to the public
RELATIONSHIP MARKETING- Building a relationship and getting to know your customers to create a continuous business relationship.
MARKETING MIX- The four elements of getting a product to the public
NAME THE 4 ELEMENTS OF THE MARKETING MIX: (THE 4 P’S)
Product- What to Produce?
Place- Where to sell the product?
Price- What price to sell the product- to maximize profit
Promotion- How to advertise the product?
Pg 1 A
BREAK-EVEN POINT- The amount of money a company has to make on a product to pay for its costs.
MARKET RESEARCH- to gather and study information about consumers to determine what kinds of goods and services to produce.
DEMOGRAPHICS- Facts about the population in terms of age, race, gender, location, income, and education.
NAME THE SEVEN STEPS IN DEVELOPING A NEW PRODUCT?
Developing a business proposal
Developing the product
Test marketing the product
Introducing the product
Evaluating customer acceptance
MARKETING RESEARCH REVENUES BY INDUSTRY GROUPS
CHANNEL OF DISTRIBUTION-A particular way to direct products to consumers. How the products get to the final destination>the customer.
DIRECT DISTRIBUTION-when the goods or services are sold from the producer directly
to the customer.
EXAMPLE: Buying online directly from the manufacturer of a product
INDIRECT DISTRIBUTION- Involves 1 or more intermediaries (wholesalers or retailers)
EXAMPLE: Buying shoes from the NIKE store
WHOLESALER-Receives large shipments of products from many different produces- many times they sell the products to retailers.
RETAILER- sells goods directly to the customer.Pg 1 B
MANY DIFFERENT TYPES OF JOBS ARE IN THE MARKETING FIELD: Research, Product Development, Retail, Advertising, Sales, Etc.
RECORD INFORMATION FROM SEVERAL OF THESE FROM YOUR INTERNET RESEARCH.
LIST AT LEAST 5 DIFFERENT JOBS IN THE MARKETING INDUSTRY.
Name (or type) of JobDescriptionSalary Range
WHICH ONE APPEALS MOST TO YOU- If you could select any job in this industry which one would you select and why?
FIND 2 LOCAL JOB POSTINGS (Collin County-Allen, Plano, McKinney, Frisco) LISTED ONLINE IN THE MARKETING FIELD (actual job openings).
Name of Job Location Description Salary
Pg 2 A
The Seven Categories of Brilliant Marketing!™ and the Brilliant Marketing!™ Wheel
LOOK ONLINE LIST & DEFINE THE 7 CATEGORIES OF THE BRILLIANT MARKETING WHEEL:
EXPLAIN THE PURPOSE OF THIS GRAPH?
MARKETING A COMPANY/PRODUCT
Go to and research the following information:
Where is Frito Lay located?
What company owns Frito Lay?
What is their slogan?
How many brands does Frito Lay sell?
List 10 of the most recognizable brands that Frito Lay owns:
Why do you think Frito Lay has so many different brands or products?
What is branding and why is it so important (general web search)?
What item is the most popular and why do you think it’s more popular than the other products?
PICK ONE OF THE BRANDS THAT FRITO LAY SELLS AND COME UP WITH A NEW SNACK FOR THAT BRAND USING THE 7 STEPS IN DEVELOPING A NEW PRODUCT. EXPLAIN HOW YOU WOULD USE THIS PROCESS IN COMING UP WITH THIS NEW PRODUCT.
1. Generating ideas
2. Screening ideas
3. Developing a business proposal
4. Developing the product
5. Test marketing the product
6. Introducing the product
7. Evaluating customer acceptance
February 8, 2012
Doritos Dominates Super Bowl Ad Meter Rankings; Awards Second $1 Million Prize as Another Consumer-Created Ad Named Fan Favorite
PLANO, Texas - The Doritos brand awarded its second $1 million bonus prize in less than a week when it was announced today that the Doritos consumer-generated Super Bowl ad “Sling Baby,” created by Kevin T. Willson, ranked No. 1 in the USA TODAY Facebook Super Bowl Ad Meter. Doritos, one of the flagship brands from PepsiCo’s Frito-Lay division, also awarded a $1 million bonus prize earlier this week to Jonathan Friedman creator of “Man’s Best Friend,” which took the top spot in the traditional USA TODAY Super Bowl Ad Meter rankings. The combined $2 million in prizes represents the largest bonus payout by the Doritos brand in the six-year history of the Crash the Super Bowl program.
ADVERTISING IS ONLY THE FINAL STAGE OF MARKETING “PROMOTION”.