The Marketing Mix
8th Grade
Business and Computer Science Standards:
MSBCS-BCSIII-10- The students will examine basics of marketing.
a) List and describe the four elements of the marketing mix (product, place, price and
promotion).
b) Explain the importance of target market relative to cultural diversity.
c) Address the elements of the marketing mix utilizing desktop publishing, word processing
and/or web page application.
Career Standards:
MKT-EN-2: Explain the fundamental concepts of business ownership.
h) Identify the market segment for the business.
i) Formulate a marketing mix designed to reach a specific market segment.
j) Utilize the marketing functions to determine the competitive advantage of the proposed
business.
Essential Questions:
What is the Marketing Mix?
What are the traditional 4 P’s of Marketing?
What are the 7 P’s of Marketing?
How do major companies market their products using the 7 P’s?
How would I market a product if given the opportunity to start a business?
What would an income statement for a company look like?
Part 1 Directions:
Create a table in Microsoft Word and type the following terms and description.
Marketing Mix
Traditional 4 P’s
7 P’s
Price
Product
Marketing Terms
The tools available to a business to gain the reaction it is seeking from its
target market in relation to its marketing objectives.
Blend of the mix depends upon: Marketing objectives, Type of product,
Target market, Market structure, Rivals’ behavior, Global issues –
culture/religion, etc., Marketing position, Product portfolio (Product lifecycle
and Boston Matrix)
Product, Price, Place, Promotion: Extended to encompass growth of service
industry
Price, Product, Promotion, Place, People, Process, Physical Environment
-Cost of a product
Pricing Strategy- Importance of knowing the market, elasticity, and keeping
an eye on rivals. Marketing strategy will need to ensure that people will get
the perceived value as greater than the price they will need to giveaway
-Item for consumption
This is the most important thing in the mix, the physical product or the
Promotion
Place
People
Process
Physical Environment
service that the entity is offering for sale to the public. You will need to
market this to the customers by telling them the unique features and benefits
the product has to offer.
Strategies to make the consumer aware of the existence of a product or
service-NOT just advertising (You can promote a product online or offline)
The means by which products and services get from producer to consumer
and where they can be accessed by the consumer. Where is the product or
service is is available? This may either be online or offline.
The more places to buy the product and the easier it is made to buy it, the
better for the business (and the consumer?)
People represent the business:
• The image they present can be important
• What is the lasting image they provide to the customer?
• Extent of training and knowledge
of the product/service concerned
• Mission statement – how relevant?
• Do staffs represent the desired culture
of the business?
• How do people consume services?
• What processes do they have to go through to acquire the services?
• Where do they find the availability
of the service? Contact, Reminders, Registration, Subscription, Form
filling, Degree of technology
•
The ambience, mood or physical presentation of the environment.
Examples: Smart/shabby? Trendy/retro/modern/old fashioned?
Light/dark/bright/subdued? Romantic/chic/loud?
Clean/dirty/unkempt/neat? Music? Smell?
Marketing, Sales, &
Career program with 5 pathways that include careers in Fashion, Sports and
Service Cluster
Events, Travel and Lodging.
Part 2 Directions:
Students will use “smart art” to
create the following diagram.
1. Click on the Insert tab
and select “Smart Art”
2. Select a “Smart Art”
diagram. The diagram
needs to be similar or
appropriate to hold the
needed information but it
doesn’t have to be exact.
3. Enter the following
information into your
diagram.
Part 3 Directions:
Students will use clip art and shapes to design a diagram similar to the one below. Include the
needed information and make your diagram unique. Use your creativity. (Diagram should be on
the last page of your document by itself)
1. Click on the Insert tab and select shapes.
2. Choose a shape of your choice. Draw a shape on your screen large enough to contain the
needed information.
3. Right-click on the shape and select “Add Text”.
4. Type the information using the font and style of your choice. Remember to adjust the size
of the shape and the font size so that you can fit all text inside the shapes. Insert
appropriate clip art.
Part 4 Marketing Research
You need to brainstorm 5 products that you would like to buy or sell. Example: cell phone, clothing,
accessories, etc. Consider the 4 P’s when you market the product: Product, Price, Promotion, and Place.
Create the following table for each item: (There will be 5 tables in ALL)
Product Name: iPhone 5
Put a picture of your product here Put the logo and slogan here (if
applicable)
Product
Describe the product. Include its
design, the buyers, the quality, the
features, the brand name, and
packaging. (How did they get
buyers to buy their product?)
Price
What is the price of the product? Is
there any discounts? Can you buy
it with credit? What are the
benefits of buying this product for
the advertised price? How does the
price affect your decision to buy
the product?
Promotion
How did they advertise this
product? How did consumers find
out about this product?
Place
Where can you purchase this
product?