Objectives: • List the four components of the Marketing Mix • Understand that the Marketing Mix is the basic, central recipe for all Marketing plans Books needed today. Read pages 16 – 19. You know the drill… Write while you’re reading. Close book when finished. Marketing Mix – includes four basic marketing strategies called the Four P’s. This is the basic, central recipe for all marketing plans. A central goal of this class is to learn how to build Marketing Plans. 1) Product – All aspects of the product from what to provide, its features, benefits, needed improvements, etc. 2) Place – The means of getting the product to the consumer’s hands; channel of distribution 3) Price – what is exchanged for the product - all aspects of pricing on an ongoing basis 4) Promotion – decisions regarding advertising, personal selling, sales promotion and publicity Assignment: Work with a partner. Choose a consumer product and its target market (what we covered in Lesson #4). With your partner, brainstorm how you see the company applying the “Four P’s” aimed specifically toward their target market. Write down your thoughts on your note paper. To help guide you through this process, look at Figure 1.2 on Page 17 of the text book. We will share out randomly.