The Marketing Mix - Loudoun County Public Schools

advertisement
WHAT IS THE MARKETING
CONCEPT?

Businesses should strive to
satisfy customers while
making a profit.
WHAT IS A TARGET MARKET?

A group of people identified
as the most likely to become
Describe
the
elements of the
marketing mix.
Explain the impact of
electronic commerce
on business and



Have you
ever made a
batch of
brownies?
What
ingredients
do you need?
What
happens if
 The
marketing mix includes the tools
that markets use / control in order to
influence potential customers in a
target market.
 It
is also known as the 4 P’s.
 Decisions
made about the 4 P’s are
based on the people marketers want to
win over and make into customers.
 Marketers
must first clearly define each
target market before they can develop
their marketing strategies (the 4 P’s).
1.Produc
t
2.Place
3.Price
4.Promot
 Because
of the
importance of
customers, some
marketers add a
5th “P” to the mix.
MARKETING
MARKETING MIX
FUNCTIONS
Financing,
Product,
Product
Place, Price,
Planning,
Promotion,
Marketing
People
Research,
Mix applies to
Pricing,
a specific
Channel
target market.
Management,
Promotion,
Marketing Functions  Market Segmentation 
Selling
Refers
to
tangible,
physical
characteristic
or features of
a product /
service
Examples
include:
 Is
about getting
the products to
the customer
 Also referred to
as distribution
 Examples
include:
 Specific
stores
 Distribution
channels
 What
is
exchanged for
the product
 Should reflect
what customers
are willing &
able to pay
(demand)
 Examples
include:
Communicati
on of
information
Refers to
activities
related to
advertising,
personal
Usually
refers
to a defined
target market
Examples
include:
 Health-
conscious
women
Product
Cookies & Cream Poptarts
Place
Grocery stores everywhere!
 easy to take on the go
Other flavors available
Eat cold or toast it
PEOPLE
Price
school-age
children
Promotion
$2.99 per box
Compare with:
Toaster Strudels
Granola Bars
TV Commercials on Nick &
Cartoon Network
Download
Related flashcards

Obsolete occupations

– Cards

Containers

– Cards

Retailing

– Cards

Software distribution

– Cards

Fifth Avenue

– Cards

Create flashcards