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Something to Consider
all about marketing
There are all sorts of markets: farmers' markets, the stock market, even flea markets. But what is marketing? In the most simple sense, marketing can be explained in one sentence: the customer is always right. But what does that mean…
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  1. What is Marketing?
    1. Definitions
      1. Needs
      2. Demands
      3. Market
  2. Generating Sales
    1. Product Orientation
    2. Selling Orientation
    3. Marketing Orientation
  3. Marketing Planning
    1. The Marketing Process
      1. Defining the mission
      2. Determining business objectives
      3. Making marketing objectives
  4. Putting Together a Marketing Plan
    1. Situation Analysis
    2. Goal Development
    3. Goal Strategy
    4. Case Study: Tabi Hockey Equipment


Use the accompanying list of terms to fill in the blanks. All terms are used, and one of the terms is used twice.

market share
marketing
trends
target market
consumers
market-oriented mission statement
product orientation
trend analysis
marketing objective
marketing plan
selling orientation
situation analysis
marketing orientation

1. __________________ is the process of meeting the needs and demands of consumers.

2. A market is all the people that buy or could buy a certain product. The people in the market, or the _________________, must have the ability to buy, the authority to buy and the willingness to buy.

3. The ____________________ is when a company believes that it has a good product that will sell itself.

4. The _____________________ is when a company believes that proper advertising will sell the product.

5. The _____________________ is when a company believes the best way to sell its product is to tailor the product and advertising to a section of the market that the company believes is most likely to buy.

6. Companies usually find success using the ________________ orientation.

7. The ________________ is the market a company believes is most likely to buy its product. The company tailors its product and advertising to this part of the market.

8. A __________________ balances incoming data about the market with a company's goals and resources.

9. The _________________ relates the company to the consumer and is usually a descriptive way of defining the company's mission.

10. A ____________________ is a specific goal a company hopes to achieve through marketing.

11. ____________________ is how much of the market the company controls.

12. __________________ are changes in sales or market share over time.

13. A _________________ examines the opportunities and threats part of the SWOT method data.

14. A _________________ examines a company's product and its place in the market, as well as the products and positions of competitors.

15. My favorite part of SDTV Marketing is ______________ .

Click here to see the answers.


something to consider
1. If you have ever thrown away a mailing from a credit card company without opening it, you're not alone. Marketers know many people are resistant to the letters they send out. That's why they'll spend weeks working on every detail of the envelope, such as the teaser (e.g., "Free gift inside!"), to increase their chances that you will open the envelope. What unsolicited mail have you open recently? What was it about the envelope that persuaded you to open it?

2. How far should state governments go in marketing lotteries? Should they be allowed to advertise on television? What about sending a mailing only to the state's poorest residents?

3. Under the product orientation, manufacturers believe that consumers will buy their product if it is clearly the best product on the market. As a result, manufacturers will try to generate more sales by changing their product regularly (e.g., "New and Improved!"). What products can you think of that have recently changed? Do you think the product's change is a real improvement or superficial? Some good areas to consider are computers, cars, shampoos, and frozen food.

4. Many supermarkets and convenience stores have their own brand of common household products (e.g., shampoo, lotion, aspirin, soda). Compare the packaging of these items with similar brand-name items. How are they similar? How are they different?

5. A fiscal year is a twelve-month period that a company chooses to be its financial year. Most companies choose to start their fiscal year in September. Why do you think they choose to start it in September?

Back to the Top



purchase soon

What does "TQM" mean? "TQM" stands for "total quality management," an approach in which everyone in a company is constantly committed to improving services and products.

top ten
Top Ten Rejected Products

10. Puddin' Sweater

9. Baby Spike Head

8. Tire O's

7. SCUDA (Self-Contained Underwater Drowning Apparatus)

6. Hamster Heart

5. Lint-On

4. Trip n' Slide

3. Sugar-flavored salt

2. Little Baby Troll

1. Really New Coke


 
vocabulary
Demand — Something you want, but don't need to keep you alive. A demand is a luxury.

Marketing — The process of meeting the needs and demands of consumers. Marketing is how you persuade consumers to purchase your product or service.

Marketing objective — The specific goal that a company hopes to achieve through marketing.

Marketing orientation — One of the three traditional ways to generate sales. In the marketing orientation, the marketer fits the product to the company's target market.

Marketing plan — The plan a company makes to achieve its marketing objectives. A marketing plan usually consists of three things: a situation analysis, a development of goals, and a strategy to achieve those goals.

Market share — The sales percentage of the total market that a particular product, service, or entire company has.

Need — A human essential - like food, water, shelter, and clothing.

Organizational objectives — The specific way a company expects to carry out its mission statement.

Overcapacity — When a manufacturer has way too much of a particular product.

Product orientation — One of the three traditional ways to generate sales. In the product orientation, marketers believe that consumers will buy their product if the product is clearly the best dang whatever it is on the market.

Selling orientation — One of the three traditional ways to generate sales. In the selling orientation, marketers believe that advertising is the best way to get people to purchase their product.

Target market — The part of the market that is most likely to buy a company's product.

 
resources
Explore some websites related to marketing. Remember, you will be leaving the Standard Deviants TV website.
Watch the most interesting commercials currently airing on TV.

Read more about marketing.

Find the official site for one of the nation's largest professional organizations for marketers.

Want to develop your marketing plan? Find some tips here.

    
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