What are the general rules?

• If you are unsure about something, please ask.

• Be ready to answer questions.
• Ask questions about the work.
• Raise your hand when you have a question.
• Be respectful towards others.
• Do not be afraid of failing.
• Try your best!
• HAVE FUN!
1. What value does the following products provide?

2. If these products stopped being sold, what would you buy instead?
What do we know?
Businesses sell products to customers to make profits (money).

SELL

• Businesses sell products to customers that they either want or

need.
• These are products that customers find valuable.
• How does businesses find out which products customers would
like to buy?
What is the role of marketing?
• A person who would like to start a business would make create a
marketing plan (part of the business plan).
• Existing businesses would have a marketing department.
What is the role of marketing?
• Marketing brings the business and customer closer together.
• Find out what customers need and want.
• Understanding customers better.
• Create a product that satisfies those needs and wants.
What is the role of marketing?
• The business needs to conduct market research.
• The business needs to know who they are going to sell to.
• The target market is the people who are most likely to buy the products or
services.
• The business needs to describe its target market by looking at age group,
personality, profile, gender, income, education and specific preferences.
What is the role of marketing?
This product is created by looking at the four Ps:
• Product: selling a product that people want to buy.
• Price: selling a product at the right price.
• Place: where customers can buy your product.
• Promotion: encouraging and reminding customers to buy your products.
This is known as the marketing mix.
Homework
1. What are goods?
2. List 5 examples of goods.
3. What are services?
4. List two services.
 What is a Product?

Goods Services
What are Goods?
Things customers buy that can be touched.
Once the customer buys a good then he/she owns it.
Examples of Goods
Examples of Goods
Examples of Goods
Examples of Goods
Examples of Goods
Examples of Goods
What other examples of goods can you think of?
What are Services?
• Something that can’t be touched.
• An action that someone does for you.
• The customer pays for using a service but does not own
it.
Examples of Services

Internet
Customers pay to use the
internet but do not own it.
Examples of Services

Video Games
Customers pay to play the
video game but do not own
the game.