Intro to Busn/Personal Finance Marketing


Learning Goal:

  • Students will understand the role of marketing
  • Students will be able to identify target markets
  • Students will understand the Four Ps of Marketing
In class, we'll cover the following sections from our book using the links and materials below.


The Role of Customers in Marketing

  










We'll check out the videos above together as a group. How would you describe marketing in your own words? Talk with someone and be ready to share. Let's look at how your book (linked above) defines marketing. 

the role of marketing
We will need two volunteers to demonstrate the exchange process described in your book. We'll also use your book to look at all the ways marketing is part of the value exchange process

Marketing can be summarized into the key elements shown in the image to the left (taken from your book). Check out the infographic on this page about Customer Acquisition Vs. Retention Costs. What three pieces of data do you find most interesting? Be ready to share. 

We will check out the first part of this video below about the marketing concept




Choose a product. Use this cool tool from Google to draw your product. 

Marketers need to convey value to customers. What is the value or benefits you gain from your product? Talk with someone and be ready to share. 

Companies compete. Marketing helps customers choose one product over the competition. Who is a competitor of your product? Draw something to symbolize this competitor (eg. logo?). Talk with someone and be ready to share. 

Think of a product that is a substitute for your product (not a replacement, eg. AirBnb vs hotel). Draw something to symbolize this substitute. Talk with someone and be ready to share.

How does your product differentiate? How is it different or unique? Draw something to symbolize this differentiation. Talk with someone and be ready to share. 

What is your product's (company) competitive advantage? What is something they have or do better than other companies? What sets them apart from other companies? Draw something to symbolize this competitive advantage. Talk with someone and be ready to share. 


It's important that companies understand their customers' wants. We'll watch this video that shows how Coke misunderstood their customers. 

Word of mouth is a powerful marketing tool. We'll take a look at this article that shows how some companies have built relationships and successfully leveraged their community of customers. 
rate our app


 

Segmentation and Targeting

target
"If everyone is your customer, then no one is." Would I be able to sell this _________ product to everyone in the room? Why or why not?

Team up with someone close by and think of a new product to market. Open and share a Google Doc to write down some ideas as we go. 

What needs does your product fulfill? How is it different from the competition? Talk with your partner, jot down some ideas, and be ready to share. 

Let's say your market is teachers (eg. Class Dojo a.k.a. the monster picker). You wouldn't try to market to every teacher. We can break down a market through segmentation. We'll check out the videos below to learn about three ways to segment customers and look at your book (linked above) to learn about one more. 

























under construction


We will use this collaborative page. We will be covering chunks from the following sections of your book:

The Assignment - Marketing Mix Visual & Commercial 25 pts (assessment)

SKIP COMMERCIAL SPRING 2018 15 pts

Your team is in charge of marketing for an up and coming company. Find a product to market. It has to be a product, not a service. Create a visual (poster, infographic, presentation, etc.) that contains the marketing mix (product, price, place, promotion, specific target market) for your product. The visual needs to be informative, media rich, and professional (10 pts marketing mix, 5 pts visual & quality). You may work in groups of five.

As part of your product promotion, you need to create a commercial. The commercial needs to be at least 30 seconds and should include elements of your marketing mix. Add your video to this collaborative page and send me both your visual and video on Schoology. (10 pts)

*Points awarded/lost based on the Creative/Original Computer Assignment Rubric