8.1.1 Marketing

• Economie & Ondernemen
• Middelbare school
• havo
• Leerjaar 3

Recap: What is marketing?

Name a benefit of marketing to an enterprise?

8.2 The benefits to the customer of marketing 

There are three benefits to the customer of marketing

1. Greater knowledge
   
2. More informed decisions
   
3. Saving time

Who are they?

Consumer sovereignty – the importance of changes in consumer preferences in determining the allocation of scarce resources in an economy

Boy buys girl an engagement ring

1. Customer
2. Consumer

Girl gets ring from boy

1. Customer
2. Consumer

Parent buys cereal for kids

1. Customer
2. Consumer

Kids eat cereal

1. Customer
2. Consumer

A book cover illustration sold to a book company

1. Customer
2. Consumer

The person who buys the book because of the cover

1. Customer
2. Consumer

1. Greater knowledge

Consumers in possession of a wide range of knowledge about available products in a particular market are able to make a more informed choice.

2. More informed decisions

The consumer demand essentially determines the allocation of scarce resources in an economy 

When consumers are able to make more informed decisions, it is likely that they will be able to make better choices between alternatives.

=

Consumer sovereignty

3. Saving time

Marketing saves people time because they are given the information

Which reason do you think is the most important? Explain your answer

Independent work

1. Learn the ONE key word from 8.2
2. Complete the workbook tasks for 8.2 
3. Submit a copy of your work at the end of the lesson (next slide)

Upload an image of your completed workbook tasks for 8.2