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Chapter 8: Marketing The Role and Impact of Marketing

Chapter 8: Marketing The Role and Impact of Marketing. Marketing is all activities involved in getting goods and services from the businesses that produce them to the consumer .

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Chapter 8: Marketing The Role and Impact of Marketing

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  1. Chapter 8: MarketingThe Role and Impact of Marketing Marketing is all activities involved in getting goods and services from the businesses that produce them to the consumer. Marketing has two fundamental roles: to sell what a business makes and to manage the brand. Marketing activities include Branding Businesses can spend millions creating an image for products and services with a brand name, logo or trademark, and a slogan. • research • development • sales • distribution • advertising • promotion

  2. Chapter 8: MarketingThe Role and Impactof Marketing Brand Name A brand name is a word or group of words a business uses to differentiate its products from that of the competition. Brand names should be distinctive, stand out, and memorable. Logo or Trademark A logo is a symbol that is associated with the company or product. It can take the following forms: monogram, visual symbol, or abstract symbol. A trademark is a word, symbol, design, or a combination of all three that a business uses to differentiate its goods or services from others.

  3. Chapter 8: MarketingThe Role and Impactof Marketing • ________________: a stylized rendering of a company’s initials or a combination of initials and numbers. KFC (Kentucky Fried Chicken) who did not want consumers seeing the work “Fried”, etc. • _______________ symbol: These are line drawings of people, animals, or things such as Apple Computer’s apple and Kellogg’s Frosted Flakes’ Tony the Tiger. • _____________ symbol: These are shapes that carry a visual message but are not representative of actual things. The Nike “swoosh” is an example and one of the world’s most well recognized logos. http://www.creativebloq.com/logo-design/quiz-can-you-guess-logo-1012976 Logo Activity

  4. Chapter 8: MarketingThe Role and Impactof Marketing Slogan A slogan is a short or catchy advertising phrase associated with a company or product. Brand Identification Everything associated with a product, such as the slogan, name, and logo, must be used consistently to ensure that the brand is always identifiable to the consumer. http://blog.hubspot.com/marketing/brand-slogan-quiz#sm.0001bzf9w71924djdvb9cakvaq585 The Product Life Cycle Marketing efforts pay off in the form of consumer reaction to the brand. Successful marketing efforts increase brand equityor the value of the brand in the marketplace. The changes in popularity or sales volume of a product over time can be graphed on the product life cycle. Slogan Activity

  5. Chapter 8: MarketingThe Role and Impact of Marketing

  6. Chapter 8: MarketingThe Role and Impact of Marketing Non-traditional Product Life Cycles Fads A fad is a product that is extremely popular with a select market for a short time, usually less than a year. Seasonal Some products are popular during a specific time or season. • Christmas and summer are seasonal time frames within which certain products are marketed. • Examples of products that I would find in current store flyers are: • ________________, _______________, _________________, ___________

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