Purpose: To establish expectations for developing, implementing, and evaluating lesson plans to support the delivery of explicit, instruction to improve student achievement and success.
Teacher: Pat Cain Period(s)/Time:1,4,7 Date(s):
Unit of Study/Topic: MKT-MP-3- Unit 3 – Marketing Concepts and Foundational Knowledge
Lesson Standards MKT-MP-3 Acquire foundational knowledge of marketing concepts to understand the scope and impact of marketing on the economy.
3.1 – Define Marketing
3.2 - Explain the concept of marketing strategies and the marketing mix
3.3 - Describe marketing functions and related activities 3.4 - Compare and contrast the effects of marketing activities 3.6 - Explain the role of situational analysis in the marketing planning
process
3.8 - Relate the marketing concept to customers’ needs and wants
Direct Explanation
Explain what students should know and be able
to do and how they will be assessed. To satisfy economic needs, businesses depend on practicing marketing concepts. This unit classifies and explains business activities as production, marketing, management or finance functions. Students learn how to explain the interdependency between business activities and marketing.
Modeling the Lesson’s Concepts
Demonstrate the knowledge and skills for the
lesson’s concepts. Display the McDonald’s logo. Use this Marketing case study on McDonalds to model and demonstrate the 4P’s of Marketing, as well as, model SWOT Analysis.
Introduction
McDonald's is one of the best-known brands worldwide. This case study shows how McDonald's continually aims to build its brand by listening to its customers. It also identifies the various stages in the marketing process. Branding develops a personality for an organization, product or service. The brand image represents how consumers view the organization.
Branding only works when an organization behaves and presents itself in a consistent way. Marketing communication methods, such as advertising and promotion, are used to create the colors, designs and images, which give the brand its recognizable face. At McDonald's this is represented by its familiar logo - the Golden Arches.
Marketing involves identifying customer needs and requirements, and meeting these needs in a better way than competitors. In this way a company creates loyal customers. The starting point is to find out who potential customers are - not everyone will want what McDonald's has to offer. The people McDonald's identifies as likely customers are known as key
audiences.
Read more: http://businesscasestudies.co.uk/mcdonalds-restaurants/the-marketing-process/introduction.html#ixzz2iJ1IOhcm
The Marketing Mix and Market Research
Having identified its key audiences a company has to ensure a marketing mix is created that appeals specifically to those people.
The marketing mix is a term used to describe the four main marketing tools (4Ps):
product price promotion
place through which products are sold to customers.
Using detailed information about its customers, McDonald's marketing department can determine:
1. What products are well received?
2. What prices consumers are willing to pay?
3. What TV programs, newspapers and advertising consumers read or view? 4. What restaurants are visited?
Market research is the format which enables McDonald's to identify this key information. Accurate research is essential in creating the right mix to win customer loyalty.
In all its markets McDonald's faces competition from other businesses. Additionally, economic, legal and technological changes, social factors, the retail environment and many other elements affect McDonald's success in the market.
Market research identifies these factors and anticipates how they will affect people's willingness to buy. As the economy and social attitudes change, so do buying patterns. McDonald's needs to identify whether the number of target customers is growing or shrinking and whether their buying habits will change in the future.
Market research considers everything that affects buying decisions. These buying decisions can often be affected by wider factors than just the product itself. Psychological factors are important, e.g. what image does the product give or how the consumer feels when purchasing it. These additional
psychological factors are significantly important to the customer. They can be even more important than the products' physical benefits. Through marketing, McDonald's establishes a prominent position in the minds of customers. This is known as branding.
Meeting the Needs of Key Audiences
There are a limited number of customers in the market. To build long-term business it is essential to retain people once they have become customers. Customers are not all the same. Market research identifies different types of customers. These examples represent just a few of McDonald's possible customer profiles. Each has different reasons for coming to McDonald's.
Using this type of information McDonald's can tailor communication to the needs of specific groups. It is their needs that determine the type of products and services offered, prices charged, promotions created and where
restaurants are located. To meet the needs of the key market it is important to analyze the internal marketing strengths of the organization. Strengths and weaknesses must be identified, so that a marketing strategy which is right for the business can be decided upon.
The analysis will include the:
company's products and how appropriate they are for the future
quality of employees and how well trained they are to offer the best service to customers
systems and how well they function in providing customer satisfaction e.g. marketing databases and restaurant systems
financial resources available for marketing.
Once the strengths and weaknesses are determined, they are combined with the opportunities and threats in the market place. This is known as SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). The business can then determine what it needs to do in order to increase its chances of marketing successfully.
Read more: http://businesscasestudies.co.uk/mcdonalds-restaurants/the-marketing-process/meeting-the-needs-of-key-audiences.html#ixzz2iJ2ku7MK
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Marketing Objectives
A marketing plan must be created to meet clear objectives. Objectives guide marketing actions and are used to measure how well a plan is working. These can be related to market share, sales, goals, reaching the target audience and creating awareness in the marketplace. The objectives communicate what marketers want to achieve.
analyzed regularly to see whether objectives are being met. This type of feedback allows the company to change plans. It gives flexibility. Once marketing objectives are set the next stage is to define how they will be achieved. The marketing strategy is the statement of how objectives will be delivered. It explains what marketing actions and resources will be used and how they will work together.
Read more: http://businesscasestudies.co.uk/mcdonalds-restaurants/the-marketing-process/marketing-objectives.html#ixzz2iJ3O2ls6
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The 4Ps
At this point the marketing mix is put together:
Product
The important thing to remember when offering menu items to customers is that they have a choice. They have a huge number of ways of spending their money and places to spend it. Therefore, McDonald's places considerable emphasis on developing a menu which customers want. Market research establishes exactly what this is. However, customers' requirements change over time. What is fashionable and attractive today may be discarded tomorrow. Marketing continuously monitors customers' preferences.
The type of marketing undertaken and the amount invested will be different, depending on the stage a product has reached. For example, the launch of a new product will typically involve television and other advertising support. At any time a company will have a portfolio of products each in a different stage of its lifecycle. Some of McDonald's options are growing in popularity while arguably the Big Mac is at the 'maturity' stage.
Price
The customer's perception of value is an important determinant of the price charged. Customers draw their own mental picture of what a product is worth. A product is more than a physical item, it also has psychological connotations for the customer. The danger of using low price as a marketing tool is that the customer may feel that quality is being compromised. It is important when deciding on price to be fully aware of the brand and its integrity. A further consequence of price reduction is that competitors match prices resulting in no extra demand. This means the profit margin has been reduced without increasing sales.
Promotions
The promotions aspect of the marketing mix covers all types of marketing communications. The methods include advertising, sometimes known as 'above the line' activity. Advertising is conducted on TV, radio, cinema, online, poster sites and in the press (newspapers, magazines). What distinguishes advertising from other marketing communications is that media owners are paid before the advertiser can take space in the medium. Other promotional methods include sales promotions, point of sale display, merchandising, direct mail, telemarketing, exhibitions, seminars, loyalty schemes, door drops, demonstrations, etc.
advertising provides more detail. This may be supported by in store promotions to get people to try the product and a collectable promotional device to encourage them to keep buying the item. It is imperative that the messages communicated support each other and do not confuse customers. A thorough understanding of what the brand represents is the key to a
consistent message.
The purpose of most marketing communications is to move the target audience to some type of action. This may be to: buy the product, visit a restaurant, recommend the choice to a friend or increase purchase of the menu item. Key objectives of advertising are to make people aware of an item, feel positive about it and remember it. The more McDonald's knows about the people it is serving the more it is able to communicate messages which appeal to them. Messages should gain customers' attention and keep their interest. The next stage is to get them to want what is offered. Showing the benefits which they will obtain by taking action, is usually sufficient. The right messages must be targeted at the right audience, using the right media. For example, to reach a single professional woman with income above a certain level, it may be better to take an advertisement in
Cosmopolitan than Woman's Own. To advertise to mothers with children, it may be more effective to take advertising space in cinemas during Disney films. The right media depends on who the viewers, readers or listeners are and how closely they resemble the target audience.
Place
Place in the marketing mix, is not just about the physical location or
Conclusion
Once the marketing strategy is in place various responsibilities are given to different individuals so that the plan can be implemented. Systems are put in place to obtain market feedback which measure success against short-term targets. McDonald's has to ensure that this is done within the confines of a tightly controlled, finite marketing budget.
McDonald's Restaurants | The marketing process
Read more: http://businesscasestudies.co.uk/mcdonalds-restaurants/the-marketing-process/conclusion.html#ixzz2iJ4gDqah
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Guided Practice with Feedback
Provide students with opportunities to practice the concepts and skills with teacher guidance and corrective feedback.
Essential Questions:
Why are the “Seven Pillars of Marketing” important to marketing strategies?
What is an example of a demographic segmentation?
How would a business apply the marketing mix toward a product? I. Before class begins, write the word “Demographics” on the board and list
demographics. Show The Marketing Concepts and Segmentation segments of the Marketing Concepts presentation. Hand out Marketing Concepts
Vocabulary Handout and Marketing Concepts Student Notes.
II. Begin class by reviewing the previous segment of the presentation. View the Marketing Mix segment. Instruct students to choose one product from their My Demographics Activity and create a written outline for a marketing mix. Use the Marketing Mix Outline Activity for student instructions. Allow the rest of the class period to work on the assignment. Assign as homework if needed. III. Discuss the Marketing Mix Outline and encourage class members to contribute
new ideas to others’ marketing mix. Begin the Marketing Yourself Portfolio Project.
IV. Distribute the Marketing Concepts Crossword to prepare students for the assessment. Then administer the Marketing Concepts Assessment
Independent Practice
Allow students to practice the concepts independently using the lesson’s skills, language, and/or practices.
Lesson will be differentiated to meet all students by access of
http://gavirtuallearning.org/
Click on: Resources Click on: Shared
Click on: CTAE/Electives on left side of screen
Scroll down to Courses: Click on Marketing Principles Click View Marketing Concepts and Foundational Knowledge
Work individually with students to ensure marketing concepts are learned.
General Student Population – Marketing Principles Marketing Mini-Projects
Project 1: The Marketing Concept at Work
Use your own paper to complete this project. 1. Name a product you bought recently.
a. Where did you buy this product?
b. Did the business where you bought the product follow the marketing concept or the sales concept? Explain your answer using specific examples of how the business was following the marketing concept or the sales concept.
2. Name a service you bought recently. a. Where did you buy this product?
practices the marketing concept?
Project 2: The Marketing Mix Memo
Use your own paper to complete this project.
You have just been hired to be the marketing manager at a new hotel chain similar to Hilton. You are to write a memorandum to the company
president, who knows very little about marketing, explaining what the marketing mix is. You must convince the president of the importance of selecting the appropriate mix for your company.
Project 3: Developing a Career Plan in Travel and Tourism
Use your own paper to complete this project.
Develop a career plan for a career in travel and tourism. Use the on-line version of the Occupational Outlook Handbook to help construct your plan. Include the following information in your plan.
1. What is the career you have chosen? Does it fall into the travel or tourism category?
2. Identify the specific duties and tasks involved in this position. Do you think that you would enjoy performing these tasks?
3. What are the working conditions you will encounter in this type of career?
4. Go to Georgia College411 and register.
a. Go to the Career planning section and complete the “Learn About You” section
b. Go to the Explore Careers section and find two jobs. For each job:
i. Describe the local, state, and national employment opportunities for this kind of position.
ii. What are the educational and training requirements for this position?
iii. What is the salary range for a position such as this. iv. Where can you find additional information relating to
Project 4: Conducting a Marketing Research Study
Use your own paper to complete this project.
Conduct the following research project at your high school.
Your research question is: What are the buying habits of students at your high school?
Develop a questionnaire that will gather answers to the research question. Be sure to follow the steps outlined in your notes and during class discussion. Prepare your final report and submit it to your teacher.
Examples of questions you may want to consider as you conduct the project include the following:
1. How old are you?
2. What is your current grade?
3. On the average, how much do you spend each week? 4. What are your sources of income?
5. How do you spend your money: a. Food? How much? b. Clothing? How much? c. Entertainment? How much? d. Transportation? How much?
e. Personal care products? How much?
6. Did the age and grade level affect the spending patterns of the students involved in the study?
7. What conclusions can you draw from the information you have collected? What recommendations can you make to businesses in your area that sell products and services to the student market at Cross Creek?
8. If you were starting your own business, what decisions would you make based on the findings from the information you collected in your research study?
Project 5: Preparing and Using a Fact-Feature Benefit Analysis
Step 2: On a separate sheet of paper, explain how you could use the information on your fact/feature benefit analysis to convince customers the product or service will meet their needs.
Product or Service:
Cost:
Fact or Feature
Advanced Marketing Students
Advanced Marketing Students will be allowed to work on individual DECA Competitive Events preparing them for Regional and State Competitions.
Review/Assessment of Standard and Learning Objectives
Perform an assessment of students’ knowledge
2. The student will explain the importance of target markets and the advantages and disadvantages of market segmentation and mass marketing.
3. The student will differentiate among the types of segmentation, such as geographic, demographic, psychographic and behavioral.
4. The student will explore the meaning of “marketing mix” and how the mix contributes to successful marketing strategies.
Formative Assessments: Refer to Independent Section above & Daily Exit Slips requiring students to work on presentation and oral communication skills.