Chapter 4.

Intro to Marketing
 Agenda

A
Opening Activity

Marketing

Market vs Product Orientation

Market Size

Market Share

Market Growth
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Opening Activity
 Science of Persuasion
https://www.youtube.com/watch?v=kv0sOX6Alrk
 Influencers
Considering the information you have learning about the science of
persuasion, we are going to explore where you have been persuaded.
• Think of an influencer you follow on any form of social media
• Why do you follow them?
• Choose one influencer you follow and explain, using concepts from
the video, how they persuaded you to follow them.

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 Formatting
• You must create 4 slides:
• Introduction to the influencer - 1 slide
• 3 shortcuts they use to keep you engaged in their
content – 3 slides
• Example: my influencer uses consistency to…
• You will present these slides to the class briefly
before we continue on
• Timing = 15 mins preparation
• 3-5 min presentation
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Marketing
 Marketing
“Marketing is the art of determining the goods and
services required to meet the needs and wants of
customers in a sustainable way.”

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 Needs vs Wants

• Needs versus Wants

– Needs =
• Necessities you must have to survive: food, shelter, water
– Wants =
• The desires you have: nice car, cell phone, new computer, etc.
• Marketing takes a want and turns it into a need
– It is about making customers want to purchase.
– Looks at the reasons why people decide to buy
• (i.e. price, color, size, special feature of the product, etc)

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 Marketing

• Market = Place where customers and suppliers trade.

– Demand requires a business steps up and sells the goods
• Two kinds of markets:
1. B2C = Business to Consumer = sell to general public
2. B2B = Business to Business = sell to businesses and governments

• Elements of a market:
1. Market Size
2. Market Growth
3. Market Share
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 Choice, Happiness, and Spaghetti
Sauce TEDtalk
https://www.ted.com/talks/malcolm_gladwell_choice_happiness_and
_spaghetti_sauce
Market vs Product Orientation
 Market & Product Orientation

• Market orientation • Product orientation

• Making a product you can sell • Making a product you know how
based on what customers want to make well
• Prioritizing the needs of their • “Find the customers once it is made”
customers above everything else.

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Market Size
 Measuring Market Size
• Customer base = The total
number of potential customers
• Barriers to entry = How
difficult is it to enter the market?
• Low barriers to entry lead to more
competition
• High barriers to entry make it difficult to
break in
• Location, Location, Location
• Some markets focus on certain countries /
regions.
• Think Huawei, Oppo, Samsung, Apple—
do all of them focus on sales in the same
country?
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Market Share
 Market Share

• How much of the market you control

• More market share = more profits
• However, largest market share doesn't always mean the most profitable business
• Market share benefits:
– Market leadership
– Economies of scale
– Pricing power
• Market Share Equation:

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 Market Share Visuals

• Market share can be measured by the

value of sales revenue or a percentage of
the sales volume (units sold).
• Allows a business to compare its size with
that of its closest rivals.

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 Increasing MS

M
• How do you increase
market share?
– Brand Promotion
– Product development
– Training
– More efficient
channels of
distribution

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Practice Activity

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Market Growth
 Market Growth

• Refers to an increase in the size of the market over a period of time.

• This is measured by an increase in the value or volume of sales in the market.
• Market growth is a common business objective.

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