Applying the Terms

The process of developing, promoting, and distributing goods and services to meet the needs of customers.

The marketing concept is the notion of providing goods and services that customers want or need.

Question How does a company or business know what the consumer wants or needs?

The group of people identified as potential customers

Marketing strategies are directed to that group

Customer profile developed for that group (also called demographics)

Four Basic Marketing Strategies called the Four P’s: Product, Place, Price Promotion

What to make Product features (color,

sizes, etc) Packaging Brand name Warranty What to do with current

products Improvements to

products

Getting the product into the consumer’s hands

Determine how and where a product will be distributed

Global companies must decide in which countries the product will be sold

What transportation methods

Sell directly to the consumer or go through middleman?

What is exchanged for the product- how much will be charged:

Should reflect what customers are willing to payWhat is competition’s priceHow much profit/ mark-up?

Activities related to advertising, personal selling, sales promotion, and publicityHow potential customers will learn about company’s productsWhat will be the message?What media will be used?Are there special offers?What will be the timing of the promotion?

Students divide into teams of 2-3 people

Design a new themed T-shirt for the BWHS school store (may use customink.com to complete design)

Target to launch product Homecoming week

Apply the Marketing Mix to this new product

Create a PPT presentation to present to class

List the 4 P’s of the Marketing Mix

What is the 5th P

List one thing new that you learned today.

Characteristics of a group: IncomeGenderEthnicityGeograhpcisPsychographics

http://www.youtube.com/watch?v=ro4yhp9L6Ok&safety_mode=true&persist_safety_mode=1&safe=active

Process of analyzing and classigying customers in a given market to create smaller, more precise target markets

Marketing functions-categorized into 7 core activities

All lead to the successful marketing They are:Channel Management (distribution)Marketing PlanningMarketing Information ManagementPricingProduct/ Service ManagementPromotionSelling

Also called “DistributionProcess of deciding how product gets

to consumer Includes physically moving and

storing product Includes systems that track products Includes where products/services

sold

Concepts to target specific marketing strategies to target audiences

Includes determining needs, collecting and analyzing data, presenting data and using data for marketing plan

Gather market information about customers, trends and competing products

Also storing and analyzing information

Research is continualExamples: customer surveys

How much to charge for goods and services

Based on costsCompetitionWillingness to PayPrice

Obtaining, developing, maintaining, and improving a product or a

product mixCreate new product Improve productAdd new products to current mix

Effort to inform, persuade, or remind potential customers about products or services

Advertising (paid- commercials, Ads, etc)

Sales Promotion Selling Publicity Direct Mail Internet and Social Media

Direct contact with customerProviding customers with the goods

and services they want Includes: determining need and

responding through planned, personalized communication

Students will work with a partner to complete the following activity:Choose a product or service and research each of the functions of marketing for that

product or service: Channel Management, Financing, Marketing Information Management, Pricing, Product/Service Management, and Promotion. Groups will submit a brief

written explanation, and then will present to the class ONE of the functions- in a 3-5

minute presentation