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Marketing Concept & Mix

Marketing Concept & Mix. Introduction to Business & Marketing. Review. Marketing Functions: Pricing Selling Distributing Promoting Marketing information management Product/service management Target Market. Marketing Concept.

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Marketing Concept & Mix

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  1. Marketing Concept & Mix Introduction to Business & Marketing

  2. Review • Marketing Functions: • Pricing • Selling • Distributing • Promoting • Marketing information management • Product/service management • Target Market

  3. Marketing Concept The marketing concept:“states that to make a profit a business must focus all efforts on satisfying the needs & wants of the customer”

  4. Marketing Mix • The marketing mix: “The 4 P’s” • Product • Place • Price • Promotion

  5. Product • Product: “what to make, how to package it, what brand name to use, and what image to project” • EXAMPLE: Pink Gildan t-shirt, Made in China, tie-dye swirl print • Student writes 2 more examples in notes

  6. Place • Place: “how/where a product will be distributed” • EXAMPLE: Florida Oranges arrive via delivery truck and are displayed at Harris Teeter for sale. • Student writes 2 more examples in notes

  7. Price • Price: “reflects what customers are willing & able to pay” • EXAMPLE: UnderArmor hoods are $50 – customers are willing to pay more for this high quality product • Student writes 2 more examples in notes

  8. Promotion • Promotion: “deals with how potential customers will be told about the new product” • EXAMPLE: Keebler cookies are on sale with coupon “buy TWO packages & save $1.00” • Student writes 2 more examples in notes

  9. Marketing Mix Project • Students will work as a pair and create a colorful, eye-catching, 4-sided/part project to display The Marketing Mix parts: • i.e. car, flower, clover, sun, bug, ipod • these will be completed & presented next class

  10. Examples

  11. Marketing Mix Project • Students will work as a pair and create a colorful, eye-catching, 4-sided/part project to display The Marketing Mix parts: • i.e. car, flower, clover, sun, bug, ipod • Will complete & present next class • HAVE FUN & BE CREATIVE!

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