2nd Aurorah Mendez Name: __________________________ Period: _____ Introduction to Marketing Magazines E-Mail Social media 1. List three places you see marketing: _______________________, ________________________, ____________________ Product 2. What are the 4 P’s of Marketing? a. _______________________________ Price b. _______________________________ Promotion c. _______________________________ Place d. _______________________________ PRODUCT Products are divided into physical goods and intangible services and ideas. 3. Product (definition): _______________________________________________________________________ Lipstick You can see and touch 4. What is a good? ___________________________________ a. Give one example of a good: ___________________ A spa Provided to you by other people b. Give one example of a service: __________________ 5. What is a service? __________________________________ Daily newspaper Provide information 6. What is an idea? ___________________________________ c. Give one example of an idea: ___________________ A group of customers that the business is aiming for 7. What is a target market? ___________________________________________________ d. If you were to create a 500k product, who would be your target market? ____________ PRICE The amount a customer pays for the product 8. Price (definition): ________________________________________________________________________ Cost of making the item 9. What is Production Cost? ___________________________________________________ Amount you are charging the customer 10. What is Selling Price? _____________________________________________________ Amount you are making after subtracting production cost from from the selling price. 11. What is Profit? ___________________________________________________________ By subtracting the production cost by the selling pice 12. How is Profit calculated? ____________________________________________ Because if you don't have competition than people can't compare products so people won't know to 13. Why is competition important? ______________________________________________ buy it. PROMOTION All methods of communication from the marketer to the consumer/ 14. Promotion (definition): ________________________________________________________________________ To get more and more people to try their product. 15. Why do companies use promotions (what is the goal)? ____________________________________ A short memorable phrase to remind a consumer of the product 16. What is a slogan? _________________________________________________________ A graphic mark or emblem used to aid and promote instant public recognition 17. What is a logo? ____________________________________________________ A catchy tune that contains lyrics that promote a product 18. What is a jingle? ___________________________________________________ PLACE How and where the consumer buys the product or service 19. Place (definition): ________________________________________________________________________ Distribution 20. What is another word for place? ___________________ 21. What are four steps in the distribution process? Manufacturer distributor customer store __________________, ____________________, ___________________, ________________ ************************************************************************************* Discuss the following as a class: 22. In your own words, how do price, product, promotion, and place impact the success of a business? This definitely does affect how well your product sells. obviously people are gonna go to places that are cleaner, affordable, popular, and the products obviously have to have a good purpose. 23. How do you think advertising and promotion, used in social media and digital media, drive profit? from personal experience, i know how it feels to get drawn into a product just from seeing it online. for example when im on tik tok and i see peoples lip businesses i always want to buy the products because they make it look good. and what makes it even better for them is that the video is viral. so millions of people have now seen their product. so i think that just putting your business on the market on social media is a good idea. not to mention that starting your own online business is easier then ever. all you need to do is download Etsy or Depop which is what i use.
