Lesson 1-1: What Is Marketing?
Textbook Pages 4-10
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LESSON SUMMARY
Marketing is a multifaceted and essential function that drives business success, not only in traditional industries like manufacturing and retail but also in government, healthcare, education, and more. It is vital for businesses to effectively understand and respond to customer needs, as effective marketing ensures customer satisfaction and profitability. While marketing is commonly associated with advertising and selling, it encompasses a range of activities, from market planning and product management to pricing, distribution, and promotion, each of which contributes to creating and maintaining value for customers.
Marketing is omnipresent in everyday life, visible through advertisements, product transportation, and consumer transactions. It also plays a pivotal role in shaping consumer decisions, from the way products are presented in stores to online purchase experiences. Businesses of all sizes, from startups to multinational corporations, allocate significant resources to marketing activities. Career opportunities in marketing are diverse, covering fields like advertising, sales, customer service, and market research. These roles offer pathways for both entry-level and advanced positions, highlighting marketing as a dynamic and lucrative career field.
The definition of marketing has evolved to encompass broader activities beyond just the exchange of goods and services. It now involves creating, communicating, and delivering value to customers while managing relationships that benefit all stakeholders. Effective marketing requires a blend of skills, including market research, strategic planning, and customer engagement. Whether promoting products, individuals, or ideas, marketing facilitates satisfying exchange relationships, ensuring mutual benefit and sustaining organizational success over time.
Marketing is a multifaceted and essential function that drives business success, not only in traditional industries like manufacturing and retail but also in government, healthcare, education, and more. It is vital for businesses to effectively understand and respond to customer needs, as effective marketing ensures customer satisfaction and profitability. While marketing is commonly associated with advertising and selling, it encompasses a range of activities, from market planning and product management to pricing, distribution, and promotion, each of which contributes to creating and maintaining value for customers.
Marketing is omnipresent in everyday life, visible through advertisements, product transportation, and consumer transactions. It also plays a pivotal role in shaping consumer decisions, from the way products are presented in stores to online purchase experiences. Businesses of all sizes, from startups to multinational corporations, allocate significant resources to marketing activities. Career opportunities in marketing are diverse, covering fields like advertising, sales, customer service, and market research. These roles offer pathways for both entry-level and advanced positions, highlighting marketing as a dynamic and lucrative career field.
The definition of marketing has evolved to encompass broader activities beyond just the exchange of goods and services. It now involves creating, communicating, and delivering value to customers while managing relationships that benefit all stakeholders. Effective marketing requires a blend of skills, including market research, strategic planning, and customer engagement. Whether promoting products, individuals, or ideas, marketing facilitates satisfying exchange relationships, ensuring mutual benefit and sustaining organizational success over time.
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What Is A Do Now?
During the Do Now, I will try to give you a preview of today's lesson.
- We will discuss one or several central themes within this lesson.
- I will give you a preview of the lesson. We will go over what you will learn (or may already know)
- I will also give you a list of what assignments you are expected to complete by the end of class today.
- We will discuss one or several central themes within this lesson.
- I will give you a preview of the lesson. We will go over what you will learn (or may already know)
- I will also give you a list of what assignments you are expected to complete by the end of class today.
Lesson 1-1 Do Now (10 Minutes)
Please note, only Mr. Kazanjian has access to the Do Now link. It is above your security clearance 😉 so please pay attention.
Checklist Of What You Need To Do Today To Get 100%
DO NOW:
1.) Participate in Do Now. (Actively participate, you are facing the discussion, not turned away from the discussion, phones are always away at all times in class.
2.) Complete the Do Now at the top of the worksheet.
Independent Practice:
1.) Read or listen to textbook Chapter 1-1 (Pages 4-10)
2.) Complete Quizzes:
Lesson 1-1 Quiz A (On Schoology)
Lesson 1-1 Quiz B (On Schoology)
Lesson 1-1 Quiz C (On Schoology)
Notes & Review
1.) Participate in Notes & Review. (Actively participate, you are facing the discussion, not turned away from the discussion, phones are always away at all times in class.
2.) Take notes on your worksheet.
Higher Level Questions
1.) Answer the Higher Level Questions on Schoology.
1.) Participate in Do Now. (Actively participate, you are facing the discussion, not turned away from the discussion, phones are always away at all times in class.
2.) Complete the Do Now at the top of the worksheet.
Independent Practice:
1.) Read or listen to textbook Chapter 1-1 (Pages 4-10)
2.) Complete Quizzes:
Lesson 1-1 Quiz A (On Schoology)
Lesson 1-1 Quiz B (On Schoology)
Lesson 1-1 Quiz C (On Schoology)
Notes & Review
1.) Participate in Notes & Review. (Actively participate, you are facing the discussion, not turned away from the discussion, phones are always away at all times in class.
2.) Take notes on your worksheet.
Higher Level Questions
1.) Answer the Higher Level Questions on Schoology.
Why Study Marketing? Why Is It Important? 2:36
Directions: Read the video summary under the video and then watch the video below (2:36) then read or listen to the textbook section on page 4. After you do this, scroll down and go to the next section.
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Textbook Page 4: You can listen to the textbook section by hitting the player below.
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Video Summary: The video discusses the importance of studying marketing, challenging conventional textbook definitions that label it as merely exciting, important, and profitable. It emphasizes that marketing is crucial for the success of various sectors, including businesses, government agencies, and non-profits, as it enables organizations to respond effectively to customer needs. Mr. Kazanjian highlights that successful businesses differentiate between effective and ineffective marketing strategies and develop approaches that meet customer demands. Additionally, they point out the lucrative nature of marketing careers, with high salaries averaging over $100,000 and a growing job market, projected to increase by 6% annually, which is faster than the average for other professions. The video concludes by summarizing three key reasons to study marketing: understanding customer needs, high-paying job opportunities, and a robust job market.
Where Does Marketing Take Place? 2:24
Directions: Read the video summary under this video and then watch the video below (2:24) then read or listen to the textbook section on page 5. After you do this, scroll down and go to the next section.
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Textbook Page 5: You can listen to the textbook section by hitting the player below.
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Video Summary: Marketing is defined in a broad context that extends beyond traditional advertising, encompassing various aspects of business operations. The video emphasizes that marketing takes place in numerous environments and countries around the world, and involves activities such as product transportation via trucks, trains, and airplanes, as well as consumer interactions like purchasing decisions made in stores or online. It highlights the idea that consumers are engaged in marketing daily, whether they choose payment methods or opt for delivery services for bulky items. The video argues that effective marketing responds to customer needs and adds value, illustrating this point with an example of purchasing a heavy dining room table, which would necessitate transportation costs included in the price. Ultimately, it conveys that marketing is integral to all levels of business and the economy, asserting that while advertising plays a role, it alone cannot fulfill all customer demands.
How Do Businesses Use Marketing? 1:49
Directions: Read the video summary under this video and then watch the video below (1:49) then read or listen to the textbook section on page 5. After you do this, scroll down and go to the next section.
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Textbook Page 5: You can listen to the textbook section by hitting the player below.
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Video Summary: The video elaborates on the essential role of marketing in various businesses, emphasizing that marketing encompasses more than just advertising. It cites data from 2008, highlighting that over 4 million companies in the United States prioritize marketing as their main activity and categorizes businesses into three groups: those directly involved in marketing, those with significant marketing activities, and those with limited marketing roles. The discussion aims to clarify misconceptions about marketing, particularly for businesses like law offices, medical centers, and government agencies, which may have a limited marketing role and therefore do not engage in many marketing functions. Mr. Kazanjian reassures viewers that the initial chapter of the textbook will serve as a foundation for understanding these concepts more thoroughly in the future.
What Are Marketing Job Opportunities?
The textbook is OLD and I wanted you to have a look at why this class is important. I am not going to test you on this but Marketing continues to be one of the highest paying segments of the United States economy. Click the links below.
Advertising, Promotions, and Marketing Managers
Market Research Analysts
Marketing Is A Very Popular College Major
According to Data USA, 518 private not-for-profit, four-year or above institutions offer marketing programs.
Additionally, Niche.com lists 1,190 colleges in the United States that offer marketing degrees.
Therefore, it's estimated that around 1,000 colleges and universities in the U.S. offer a major in marketing.
Advertising, Promotions, and Marketing Managers
Market Research Analysts
Marketing Is A Very Popular College Major
According to Data USA, 518 private not-for-profit, four-year or above institutions offer marketing programs.
Additionally, Niche.com lists 1,190 colleges in the United States that offer marketing degrees.
Therefore, it's estimated that around 1,000 colleges and universities in the U.S. offer a major in marketing.
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What Is Marketing? 3:17
Directions: Read or listen to the "What is Marketing" section on page 6 (Skip the Marketing Functions section for now).
Read or listen to the "Define Marketing" section on pages 9 and 10. After you read, watch the video below and then take the quiz "Lesson 1-1 Quiz B".
Read or listen to the "Define Marketing" section on pages 9 and 10. After you read, watch the video below and then take the quiz "Lesson 1-1 Quiz B".
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The audio directly below will read you the "What is Marketing paragraph on page 6.
The audio directly below will read you the "Define Marketing" section on pages 9 and 10.
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Video Summary: The video explores the origins of the term "marketing," tracing it back to livestock trading practices where farmers brought their cattle to market for sale. It highlights a 1910 newspaper article discussing the importance of effectively showcasing livestock to attract buyers, indicating that successful marketing hinges on appealing presentation. The phrase "lipstick on a pig" illustrates this concept, suggesting that even unappealing products can be marketed attractively. The video also touches on the evolution of branding in livestock, where buyers learned to trust certain brands for quality assurance. Ultimately, it defines modern marketing as the "creation and maintenance of satisfying exchange relationships," emphasizing that marketing encompasses much more than just advertising; it is about facilitating successful exchanges.
The Marketing Functions (The PARTS Of Marketing)
(11:32)
Directions: Use the video below(OR THE INDIVIDUAL PARTS OF THIS VIDEO BELOW....BELOW) and the What Is Marketing? graphic below to answer questions on the quiz. You can preview the quiz questions by hitting the button below.
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This will read the "Marketing Functions" and "How Companies Use The Marketing Functions" sections on pages 6 and 7.
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Video Summary: The video explores the origins and modern definitions of marketing, tracing its roots back to livestock farming, where the term was linked to the trade of cattle and the importance of branding to ensure quality and trust. It emphasizes that marketing is not just about advertising but about creating and maintaining satisfying exchange relationships. The discussion includes essential marketing functions such as market planning, product and service management, distribution, pricing, promotion, marketing information management, financing, and risk management. Through engaging examples like opening a papusa business and innovative delivery methods, the video highlights how effective marketing strategies are crucial for understanding customer needs and establishing successful business operations.
Note: Please note that all of the videos below are segments from the long video above. I just split it up to make it easier for you. You do not have to watch it again.
The Marketing Functions: Market Planning
Market Planning: Identifying and understanding the markets a company wants to serve and developing effective marketing strategies for each market.
The Marketing Functions: Product & Service Management
Product and Service Management: Assisting in the design and development of products and services to meet the needs of prospective customers.
The Marketing Functions: Distribution
Distribution: Determining the best methods and procedures to be used so prospective customers are able to locate, obtain, and use the products and services of an organization.
The Marketing Functions: Pricing
Pricing: Establishing and communicating the value of products and services to prospective customers.
The Marketing Functions: Promotion
Promotion: Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services.
The Marketing Functions: Selling
Selling: Direct, personal communications with prospective customers in order to assess needs and satisfy those needs with appropriate products and services.
The Marketing Functions: Marketing Information Management
Marketing Information Management: Obtaining, managing, and using market information to improve decision making and the performance of marketing activities.
The Marketing Functions: Financing
Financing: Budgeting for necessary financing and providing financial assistance to customers to assist them with purchasing products and services.
The Marketing Functions: Risk Management
Risk Management: Providing security for products, personnel, and customers and reducing the risk associated with marketing decisions and activities.
Higher Level Questions
You will only be able to answer this question if you understand the basics from this lesson. Doing a little bit of internet research is fine. Cutting and pasting from Google or ChatGPT is not. Here are the questions:
1.) Assess the role of marketing information management in making business decisions.
Please answer this on Schoology.
Please note that there is a rubric for your answer on the third page
1.) Assess the role of marketing information management in making business decisions.
Please answer this on Schoology.
Please note that there is a rubric for your answer on the third page