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Introduction to Marketing

Introduction to Marketing. CTE Intro. The Four P’s of Marketing. Product Place Price Promotion. Product. Can be Goods or Services Marketable Characteristics Target Market. Definition : Anything that can be offered to a market that might satisfy a want or a need. Target Market.

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Introduction to Marketing

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  1. Introduction to Marketing CTE Intro

  2. The Four P’s of Marketing • Product • Place • Price • Promotion

  3. Product • Can be Goods or Services • Marketable Characteristics • Target Market Definition: Anything that can be offered to a market that might satisfy a want or a need.

  4. Target Market Definition: A group of customers that the business has decided to aim its marketing efforts towards. • Target market can refer to: • Gender • Age Range • Level of Income • Lifestyle • Race • Social Class • Religion • Profession • Education Level • Marital Status • Geographic Location • Interests

  5. Target Market What are the characteristics of the target markets of these TV shows?

  6. Who is the Target Market?

  7. Price • Definition: The quantity of payment given by one party to another in return for goods and services • What happens if you charge too much? • Too little? • How do you determine value? • Production Cost – cost of making the item • Also includes advertising, salaries of employees, cost of running business • Selling Price – amount you are charging the customer • Profit – amount you are making after subtracting the production cost from the selling price.

  8. Price • Competition: Another concept to setting price is considering your competitors prices. If your prices are much higher or much lower, that can affect your sales and also how your company is viewed. • “This brand costs the most—It must be the best.” • “This costs the least—it must be a piece of junk.” • “This is way overpriced—I’m not buying it.” • “This is expensive, but it’s the only place I can get it.” • “This is a great price! I’m getting a good deal!” • “I can get this cheaper at store X, I’ll get it there.” • If you have no competition, you can usually get away with charging more. But it’s only a matter of time until someone copies your idea. • Patent: The exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years.

  9. Promotion • Definition: Attempting to persuade the public to buy the product or service. • How do you create demand for your product? • How will you advertise your product and get it into the minds of consumers? • Commercials, ads, special promotions, community service, market research, public relations

  10. Slogans Definition: A memorable phrase used as a repetitive expression of an idea or purpose. • “15 minutes could save you 15% or more on car insurance.” • “A rainbow of flavor.” • “The nighttime, sniffling, sneezing, coughing, aching, stuffy head, fever, sleep better to feel better medicine.” • “They’re magically delicious.” • “I’m lovin’ it…” • “Challenge Everything” • “The quilted quicker picker upper.” • “Finger-Lickin’ Good” • “Think outside the bun.” • “You can do it. We can help.”

  11. Logos Definition: A graphic mark or emblem used to aid and promote instant public recognition.

  12. Jingles Definition:A short tune used in advertising that contains lyrics that promote a product. • Toys R Us • McDonalds Filet-o-Fish • Pillow Pet • Les Olsen Company • Meow Mix • Twinkle Toes • Red Robin • State Farm

  13. Place • Definition: Where and how the product is distributed and sold to the public. • Where • Countries • States • Cities • Stores • Location within store • How • Online • Word of mouth • In a store • Door to Door • Infomercial

  14. The End

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