Marketing Concepts Practicum in Marketing Dynamics Marketing Lesson Plan Performance Objective Students will identify marketing concepts including the marketing mix and marketing strategies. Specific Objective Identify elements of the marketing mix Explain the relationship among goals, tactics, and strategies pertaining to the marketing mix Illustrate factors that may cause marketing strategies to change Evaluate forms of utility and how it affects marketing Terms Marketing concept – businesses must satisfy customers’ needs and wants in order to make a profit Marketing mix – Four basic marketing strategies, known as the four Ps – product, price, place and promotion Market – potential customers who share common needs and wants, and who have the ability and willingness to buy the product Target marketing – focus of all marketing decisions on a very specific group of people who you want to reach Customer profile – information about the target market with regard to the age, income level, ethnic background, occupation, attitudes, lifestyle, or geographic residence of the targeted customer Time When taught as written, this lesson should take three to four days to teach. Preparation TEKS Correlations: This lesson, as published, correlates to the following TEKS. Any changes/alterations to the activities may result in the elimination of any or all of the TEKS listed. §127.14 Career Prep II (c) Knowledge and Skills (1) The student uses and evaluates employability skills to maintain a position in a company. The student is expected to: (C) expand personal communication skills; 1 Copyright © Texas Education Agency, 2015. All rights reserved. §130.348. Practicum in Marketing Dynamics (c) Knowledge and Skills (2) The student knows marketing mix A) explain the relationship among goals, tactics and strategies pertaining to the marketing mix B) illustrate factors that may cause marketing strategies to change. Interdisciplinary Correlations: §110.47 Reading I, II, III (b) Knowledge and skills. (2) The student acquires an extensive vocabulary through reading and systematic word study. The student is expected to: (A) expand vocabulary by reading, viewing, listening, and discussing; (B) determine word meanings through the study of their relationships to other words and concepts such as content, synonyms, antonyms, and analogies; (4) The student comprehends texts using effective strategies. The student is expected to: (A) use prior knowledge and experience to comprehend; (B) determine and adjust purpose for reading; and (D) summarize texts by identifying main ideas and relevant details. §110.57 Public Speaking I, II, III (b) Knowledge and skills. (4) Organization. The student organizes speeches. The student is expected to: (B) organize speeches effectively for specific topics, purposes, audiences, and occasions; and (7) Delivery. The student uses appropriate strategies for rehearsing and presenting speeches. The student is expected to: (C) develop verbal, vocal, and physical skills to enhance presentations. Occupational Correlation (O*Net – www.onetonline.org/): Job Title: Marketing Manager O*Net Number: 11-2021.00 Reported Job Titles: Marketing Director, Vice President of Marketing, Business Development Manager, Marketing Coordinator Tasks: Formulate, direct and coordinate marketing activities and policies to promote products and services, working with advertising and promotion managers. Coordinate or participate in promotional activities or trade shows, working with developers, advertisers, or production managers, to market products or services. Consult with buying personnel to gain advice regarding the types of products or services expected to be in demand. Soft Skills: Speaking, Active Listening, Critical Thinking, Judgment and Decision Making, Social Perception 2 Copyright © Texas Education Agency, 2015. All rights reserved. Accommodations for Learning Differences It is important that lessons accommodate the needs of every learner. These lessons may be modified to accommodate your students with learning differences by referring to the files found on the Special Populations page of this website (cte.unt.edu). Preparation Review and familiarize yourself with the terminology, Have materials ready prior to the start of the lesson. References: Textbooks: Kimbrell, G., & Woloszyk, C. A. (2005). Marketing Essentials. Woodland Hills: McGraw-Hill Companies. Online: http://www.onetonline.org Instructional Aids Textbook Lesson Presentation Instructor Computer/Projection Unit Online Websites Introduction The main purposes of this lesson is to help students understand Marketing concepts Marketing mix Marketing utility Ask students to define marketing in their own terms Ask students if they know what the 4 Ps in marketing Outline MI Outline I. Terms Marketing Concepts Marketing Mix Market Target Marketing II. Customer Profile Marketing Concept A. Customers/Consumers B. Market Instructor Notes Use presentation as visual aide Have students write vocabulary terms and meanings Discuss marketing concept elements utilizing the presentation and listed resources 3 Copyright © Texas Education Agency, 2015. All rights reserved. C. Target marketing III. Customer profile Marketing Mix A. Product B. Price C. Place D. Promotion IV. Marketing Activities A. Buying B. Selling C. Transporting D. Storing E. Financing F. Researching G. Risk Taking V. Grading and valuing Role of Marketing A. Distribution B. Sales Oriented C. Customer Oriented Multiple Intelligences Guide Existentialist Interpersonal Intrapersonal Kinesthetic/ Bodily Logical/ Mathematical Musical/Rhythmic Naturalist Verbal/Linguistic Visual/Spatial Application Guided Practice Students will work independently to identify the relationship of the 4 Ps by illustrating each concept using a single product to connect each element of the marketing mix. Independent Practice Students will identify the target market and develop a marketing mix for a new hair styling product. Summary Review 1. 2. 3. 4. What are the 4 Ps of the marketing mix? Define the marketing concept. What is a market? What is target marketing? 4 Copyright © Texas Education Agency, 2015. All rights reserved. Evaluation Informal Assessment Student participation throughout the discussion process and contribution to the guided practice activity. Teacher will observe students by walking the classroom during each activity. Formal Assessment Students will be evaluated on their Marketing Mix using the Assigned Rubric. Enrichment Extension Integrate writing skills: Have students write a report about a company’s current use of the marketing mix. They should research the marketing mix elements and write a formal report defining their impact on the company’s success. 5 Copyright © Texas Education Agency, 2015. All rights reserved. Marketing a HAIR STYLING Product Project: APPLYING THE 4 Ps Answer the questions regarding the proposed item to develop a plan. Then type a formal proposal including all marketing mix elements. Your Role: Assume you are product manager for the hair care division of a large consumer products firm. You’ve been asked to develop the marketing mix for a new hair styling product. Target Market: Men or women age 18-55 with normal hair and an active life-style. These people are fashion conscious and classified in the upper middle to lower upper income range. Target Market Gender Selection Male Female Product Decisions 1. What would you name the styling product? Explain why you chose this name. 2. What does the styling product container look like? Illustrate the container. 3. Explain why the container design is consistent with your target market and product name. 4. Describe the texture, fragrance, consistency, color, etc. of your styling product and explain why you chose them. 5. In what size(s) will your styling product be offered and why? ______________________________________________________________________________ Place Decisions 1. Where do your potential customers generally buy their styling product (at what type of store)? __________________________________________________________________________ ___________________________________________________________________________ 2. Explain where you will sell your styling product and why. 6 Copyright © Texas Education Agency, 2015. All rights reserved. Price Decisions 1. Suggest a retail price for the new styling product. (If you have more than one size, specify the price for each size.) ______________________________________________________________________________ 2. Explain your choice given the prices of competitive products. ________________________________________________________________________ Promotion Decisions 1. What will be the main theme/slogan of your promotion activities? _____________________________________________________________________________ 2. In what media will you advertise your product and why? Be specific as to frequency and times of radio, TV, and newspaper advertising. 7 Copyright © Texas Education Agency, 2015. All rights reserved. Assignment Rubric Categories Product Content Place Content Price Content Promotion Report Format & Grammar 20 15 10 Highly developed Well-developed Product is product with product branded branded and branding and and appropriate for appropriate for relevance to target target market target market market Identified Identified Identified distribution method distribution location distribution and location and and relevant to location within relevant to target target market target market market Identified pricing Identified pricing Identity pricing point and strategy point or strategy relevant to with relevance to with relevance to competitors competitors competitors Promotion plan Promotion Promotion developed developed using developed with identifying sources media appropriate media identified of media for target market appropriate for target market Well written using Well written using Written using high levels of marketing terms marketing terms marketing language with no grammatical with two or fewer with no grammatical errors grammatical errors errors 5 or less Product is branded or appropriate for target market Identified distribution location Identify price Promotion identified Written with three or more grammatical errors Total Score ________ Maximum 100 Points 8 Copyright © Texas Education Agency, 2015. 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