Marketing - Livingston Public Schools

Marketing - Livingston Public Schools

21 MARKETING AN INTRODUCTION Marketing Marketing Environment Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Armstrong/Kotler

New Unit Marketing Environment Open: Exercise and notes Marketing Environment 1- 2 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Todays Objectives What is the marketing environment and why is it important?

1- 3 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall 1- 4 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall 3-4 Examples Competition

1- 5 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall McDs Environment Come up with four examples of how environmental factors are impacting McDonalds marketing. Use the McDs in the News article as a starting point.

1- 6 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Pair / Share Review your answers with you desk partner. Together answer the question: How are environmental factors

influencing McDonalds marketing? 1- 7 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Summary Companies cannot just focus on consumer needs in developing a marketing strategy. They need to understand what is happening in their overall environment.

Even very successful companies like McDonalds can have their marketing strategy upset by environmental factors that they cant control. 1- 8 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Do Now Go to Unit 2 in Teachers Outbox. Open Exercise and Notes Demographics

Compare your generation to your parents / guardians. 1- 9 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Housekeeping New seats next class! Review test, McDs, Charity Project Individual questions / issues

In box Lunch A204 Tuesday after school 1- 10 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Todays Objectives Explore how the demographic environment impacts marketing. Do generational differences matter?

1- 11 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Environment Competition 1- 12 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

The Demographic Environment Demography: The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics 1- 13 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Generations A group of individuals, who are the same

approximate age, having similar ideas, problems, attitudes, etc. Marketers divide U.S. generations into 15-20 year blocks: Greatest or Silent Generation, Baby Boomers, Gen X and Millennials (Gen Y). 1- 14 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Baby Boomers

Objective: understand how life experiences shape a generations values, aspirations, and concerns. First, gather facts. Second, reflect on what it means to be a Boomer. 1- 15 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Do Now P6 Find your new seats. Bring out your Boomer note taker from last class. 1- 16 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Baby Boomers

Boomers - Tom Bro kow 1- 17 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Do Now Work Quietly Find your new desk! Re-open Exercise and Notes Demographics

In Part 2 Enter one example of how a life experience of the Boomer generation shaped their aspirations / values. Add one example of how a Boomer life experience lead to a common concern in this generation. 1- 18 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Todays Objectives

Summarize findings on the Boomer life experience and how it shaped their values, aspirations and concerns. Take a look at how one company targeted Boomers. Create a marketing pitch targeted towards Boomers. 1- 19 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Desk Partners In your note taker, identify: Two more key boomer life experiences and how they shaped Boomer values, aspirations and/or concerns. 1- 20 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Compare How are the Boomers different from your generation? 1- 21 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Boomer Summary Each generation has a different life experience. This results in a different set of values, aspirations

and concerns. Marketers need to consider generational changes in their marketing because generations are linked to: Consumer wants. The consumer life cycle. 1- 22 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Consumer Life Cycle

Generations are also linked to consumer demands because People buy different products as they grow older. 1- 23 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Pair / Share Life Cycle Products Identify a product you would buy in your:

20s 30-40s 50-60s Over 70 1- 24 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Do Now P1 and P6 Open: Exercise Ameriprise Case Study

Describe what a baby boomer would expect to do in retirement. 1- 25 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Todays Objectives Explore how a leading financial services firm uses generational marketing. Create an advertisement targeted towards

Boomers. 7 - 26 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Who is Ameriprise? Ameriprise intro Financial planning / investment firm. $700 billion in assets under

management and administration. Top 10 provider of mutual funds, financial planning, annuities and insurance. More financial planning clients than any other firm. Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall 1- 27

Why the Boomers? Life Cycle Products 1- 28 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Individual Activity Objective: identify how the Dreambook appeals to boomer values, aspirations and concerns.

- Take notes on the videos - Review actual Dreambook - Evaluate the Dreambook campaign 1- 29 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Dream Book Campaign Flower Power

Dream Book 1- 30 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Did It Work? 1- 31 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

New Ameriprise Campaign How has Ameriprise retirement marketing changed? Why? Confident Retirement 1- 32 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Project Desk partner Pick a product or service that might interest a boomer. Develop an ad using power point. Include a visual and a statement of benefits that ties to boomer aspirations, values or concerns. Save your ad as Project Boomer Ad [your names]. 1- 33

Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Do Now Work Quietly Unit 2 Do Now Boomer Quiz Work on first 12 questions 1- 34 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Todays Objectives Present Boomer Ads and evaluate. Learn about Gen X and Y. 1- 35 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Share and Compare Share you ad with your team.

Team members: Imagine you are a boomer. How would you react? Make two improvement suggestions. 7 - 36 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Ad Evaluation

Why would the product itself appeal to a boomer? What words / images would specifically appeal to a Boomer? Why? If you were a boomer, how likely is it that you would buy? Rate 5 very likely to 1 never. 7 - 37 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Get Ready to Take Notes

Re-open: Exercise and notes Demographics 7 - 38 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Reflection When does generational marketing work? When is it less effective?

7 - 39 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Summary Attitudes, aspirations and concerns grow out of unique life experiences often tied to a generation. Generational marketing works especially well with life cycle products.

Effective generational marketing appeals to each generations perspective on life. 1- 40 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Boomer Quiz Answers Boomer Quiz Answers 1- 41

Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Do Now Open Exercise and Notes Generations In the summary section, fill in what you already know about the Boomers. 1- 42 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Todays Objectives Understand two important up and coming generations: Gen X and Gen Y. Apply your knowledge of generations to car marketing. 1- 43 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Project Generations

Objective: Create a memory magnet for Gen Y or Gen X. In each team, two people take Gen X and two take Gen Y and develop a memory magnet. Decide on your teams and download Memory Magnet Template (power point) 1- 44 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall 1- 45

Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Met Life Mature Market Research https://www.metlife.com/mmi/ research/generationalprofiles.html#introduction Met is a good starting point for your research. Try two other sites. Save as Project Generation Magnet your names.

Key Facts about Generation # in 2009 Top three spending categories Music Share Your Findings Present to your team. Listeners: take notes in Exercise - Generations

7 - 49 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Summary Key generational differences Boomers Gen X Gen Y 7 - 50 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Baby Boomers 78 million people born between 1946 and 1964 Wealthiest generation in history Account for 50% of consumer spending Hold of the nations financial assets Recession hit baby boomers hard, eating into savings and retirement prospects

Represent strong targets for financial services 7 - 51 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Generation X 49 million, born from 1965 to 1976 Most educated generation to date

Less materialistic than other groups Skeptical of marketing Careful spenders Virginia tourism now aims its well-known Virginia is for Lovers campaign at Gen Xer families, who want new experiences close to home

7 - 52 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Millennials

83 million, born between 1977 and 2000 $733 billion in purchasing power Ethnically diverse Fluent with digital technology Personalization and product customization are key to marketing success 7 - 53 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Generations Contest Socrative.com Room: b755cc0e Sign in: Last Name, First Name Pick your color. 7 - 54 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Generations in Advertising

How do the adds differ in theme? When do you think they were produced? And for which generation? Coca Cola - Real Thing Pepsi Generation 1- 55 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Car Marketing

Individual work graded. Part 2 match a car to each generation. Explain why that car fits the values, aspirations and/or concerns of the generation. 7 - 56 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

More Generational Info Karen McCullough Loves Generation X - YouTube Gen Y - Greatest Generation Who are Generation Y? MetLife - Generational Research 1- 57 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Do Now

Open: Exercise and notes Generations Finish your car project. If done, take the quizzes in the exercise. 1- 58 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Todays Objectives Aside from generations, what other demographic changes will impact

marketing and how? 7 - 59 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Exploration 4 person team Create a 4 page report on key demographic changes: family size occupations

ethnicity income distribution Report should include: a graph or chart for each trend and an explanation of why the change is happening. 7 - 60 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Setting up Your Document 1. 2.

One person for each team. Go to Google docs. Create a document with filename: Project Demographic Trends student names. 3. Then click Share. 4. Type in LHS email addresses for your team members. Send. 5. Create 4 pages for each trend within your document. 7 - 61

Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Research Tips Google household size trends US and look at images to find charts. Helpful websites: Pew research Marketing charts US census

7 - 62 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Share Find your research counterpart in the next team. Swap ideas and sources.

7 - 63 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Demographic Summary Family size decreasing. Single person households. More white collar / grey collar jobs fewer blue collar jobs. Majority non-European population.

Increasingly Hispanic. Wider income distribution. 7 - 64 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Team Discussion Page 5 Pretend you are a Shoprite marketing

manager. How will each trend affect your marketing? Come up with an action for each trend. 7 - 65 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Saving Team Captain: Save a copy in the insubmit.

Team members: Save your copy in your Google docs. 7 - 66 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Brain Break 7 - 67 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

The Changing American Family Traditional households in decline Married couples with children = 23% Non-traditional households are growing Married without children = 29% Single parents = 17% Non-family households = 32%

More working women and stay-at-home dads 7 - 68 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Geographic Shifts in Population About 15 percent of U.S. residents move each year Population shift toward the Sunbelt states Midwest and Northeast losing population

People moving to suburbs and micropolitan areas Increasing numbers of telecommuters Booming SOHO market 7 - 69 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Geographic Shifts in Population Cisco targets the growing telecommuter

market with WebEx, which lets people meet and collaborate online, no matter what their work location 7 - 70 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall A More White-Collar Population U.S. population becoming better educated Workforce becoming more white-collar Job growth strongest for professional workers

and weakest for manufacturing workers Number of professional workers expected to increase 7 - 71 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Increasing Diversity Ethnic groups have mixed together but maintained diversity by retaining cultural

differences An attractive diversity segment for marketers is the 54 million U.S. adults with disabilities Many major companies also explicitly target gay and lesbian consumers Marketers design products, ads, and promotions for different groups 7 - 72 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

Increasing Diversity Samsung features people with disabilities in its mainstream advertising and signs endorsement deals with Paralympic athletes 7 - 73 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall Income Distribution Top 5 percent of American earners get nearly

22 percent of the countrys adjusted gross income Bottom 40 percent of American earners get just 12.6 percent of the total income Unequal distribution of income has created a tiered market 7 - 74 Copyright 2011 Pearson Education, Inc. Publishing as Prentice Hall

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