Week 1 - 1/19/26
What’s Marketing? (Day 1)
Objective: Be able to explain the purpose of marketing in our daily lives.
(Be sure to answer at the end of class)
Marketing is specifically curated by big businesses to grab the attention of viewers. Different
products are meant to appeal to different audiences.
Is Marketing…
Public Relations? Promotions? Publicity? Sales? Advertising?
❖ What is marketing?
- Marketing is the strategy. (it’s never random)
- It’s understanding what consumers desire and to create value to fulfill those needs.
❖ Why do we need marketing? What does it do?
- Marketing creates value by providing both utility and status
★ IMPORTANT: You are selling a solution, NOT A PRODUCT.
(the problem could be a person wanting their reusable water bottle to be a specific color)
❖ Four Types of Value - Economic
Economic Value - (EX: Apple SE iPhone 3rd Gen)
Tangible monetary saving either at the time of purchase or over its long time use. Best bang for
your buck for the long term use! (Not the cheapest phone, but it lasts for a long time)
Functional Value - (EX: Smartphone)
Features are what a product offers; benefits are what a customer gets from those features. It will
do the job the best; it will solve your problem better than any other product.
Experiential Value - (EX: Apple or Nike)
Intangible psychological and emotional value that can be derived from brands or great service.
Nothing to do with the product itself; brand value. You will pay money for the logo.
Social Value - (EX: Apple’s Ecosystem like Blue/Green text)
, Value of their products and services to customers in a socially connected world. Reddit, Snapchat,
YouTube, things that have value because other people are there. It would be useless to be the only user.
❖ How do you deliver value?
Communication - You must tell customers what problem you’re solving.
But, What do I communicate? Essentially, which value do they care about? Focus on one, not a lot.
Key points of today’s lecture:
Marketing is the strategy
Why do we need marketing? It creates value.
So, what do your customers value?
Objective Answer: Explain the purpose of marketing in our daily lives.
The purpose of marketing in our daily lives is to strategically solve specific problems that people
have, and we appeal to them based on that problem or their wants/needs. Marketing creates
value as it provides both utility and status. There are 4 different values people look for in
products, and so you appeal to about one of them in order to make revenue and therefore gain a
profit.
Day 2 - Needs (01/22/26)
Objective: You will be able to identify the need a consumer is trying to fulfill when
purchasing a product. (Be sure to answer at the end of class).
❖ Types of Cost (In the context of Uber)
Monetary Costs - (EX: Uber)
It’s cheaper than other alternatives such as Lyft.
Time Costs - (EX: Waiting for phone to load)
Make the wait time fast – immediate. Uber made this possible, it saved 3-4 minutes compared to
public transportation.
What’s Marketing? (Day 1)
Objective: Be able to explain the purpose of marketing in our daily lives.
(Be sure to answer at the end of class)
Marketing is specifically curated by big businesses to grab the attention of viewers. Different
products are meant to appeal to different audiences.
Is Marketing…
Public Relations? Promotions? Publicity? Sales? Advertising?
❖ What is marketing?
- Marketing is the strategy. (it’s never random)
- It’s understanding what consumers desire and to create value to fulfill those needs.
❖ Why do we need marketing? What does it do?
- Marketing creates value by providing both utility and status
★ IMPORTANT: You are selling a solution, NOT A PRODUCT.
(the problem could be a person wanting their reusable water bottle to be a specific color)
❖ Four Types of Value - Economic
Economic Value - (EX: Apple SE iPhone 3rd Gen)
Tangible monetary saving either at the time of purchase or over its long time use. Best bang for
your buck for the long term use! (Not the cheapest phone, but it lasts for a long time)
Functional Value - (EX: Smartphone)
Features are what a product offers; benefits are what a customer gets from those features. It will
do the job the best; it will solve your problem better than any other product.
Experiential Value - (EX: Apple or Nike)
Intangible psychological and emotional value that can be derived from brands or great service.
Nothing to do with the product itself; brand value. You will pay money for the logo.
Social Value - (EX: Apple’s Ecosystem like Blue/Green text)
, Value of their products and services to customers in a socially connected world. Reddit, Snapchat,
YouTube, things that have value because other people are there. It would be useless to be the only user.
❖ How do you deliver value?
Communication - You must tell customers what problem you’re solving.
But, What do I communicate? Essentially, which value do they care about? Focus on one, not a lot.
Key points of today’s lecture:
Marketing is the strategy
Why do we need marketing? It creates value.
So, what do your customers value?
Objective Answer: Explain the purpose of marketing in our daily lives.
The purpose of marketing in our daily lives is to strategically solve specific problems that people
have, and we appeal to them based on that problem or their wants/needs. Marketing creates
value as it provides both utility and status. There are 4 different values people look for in
products, and so you appeal to about one of them in order to make revenue and therefore gain a
profit.
Day 2 - Needs (01/22/26)
Objective: You will be able to identify the need a consumer is trying to fulfill when
purchasing a product. (Be sure to answer at the end of class).
❖ Types of Cost (In the context of Uber)
Monetary Costs - (EX: Uber)
It’s cheaper than other alternatives such as Lyft.
Time Costs - (EX: Waiting for phone to load)
Make the wait time fast – immediate. Uber made this possible, it saved 3-4 minutes compared to
public transportation.
