www.mrzeesresources.com The Marketing Mix – 00/00/21 Do now: Write date + title 0:01 0:02 0:03 0:04 0:05 0:06 0:07 0:08 0:09 0:10 0:11 0:12 0:13 0:14 0:15 0:16 0:17 0:18 0:19 0:20 0:21 0:22 0:23 0:24 0:25 0:26 0:27 0:28 0:29 0:30 0:31 0:32 0:33 0:34 0:35 0:36 0:37 0:38 0:39 0:40 0:41 0:42 0:43 0:44 0:45 0:46 0:47 0:48 0:49 0:50 0:51 0:52 0:53 0:54 0:55 0:56 0:57 0:58 0:59 1:00 1:01 1:02 1:03 1:04 1:05 1:06 1:07 1:08 1:09 1:10 1:11 1:12 1:13 1:14 1:15 1:16 1:17 1:18 1:19 1:20 1:21 1:22 1:23 1:24 1:25 1:26 1:27 1:28 1:29 1:30 1:31 1:32 1:33 1:34 1:35 1:36 1:37 1:38 1:39 1:40 1:41 1:42 1:43 1:44 1:45 1:46 1:47 1:48 1:49 1:50 1:51 1:52 1:53 1:54 1:55 1:56 1:57 1:58 1:59 2:00 End 1. Define sole trader 2. One advantage of being a sole trader 3. One disadvantage of being a sole trader Answers • A sole trader is one person that starts and runs a business • One advantage of being a sole trader is that they get to keep all the profits • One disadvantage of being a sole trader is they can’t raise lots of cash 00/00/21 The marketing mix • Must understand the 4ps • Should explain the 4ps of Pepsi • Could create a marketing mix for your chosen product What might marketing mean? Marketing is the process of finding out what your customers needs are and satisfying them It involves adjusting the marketing mix to meet your target market’s needs: • Product • Promotion • Price • Place Starter – Mcdonalds video What did Mcdonalds do to the ‘Product’ for the Indian people and the Mexicans? What did Mcdonalds do to the ‘Price’ for the Chilean people? What did Mcdonalds do to ‘Place’ for the French and Chinese people? What promotions do Mcdonalds have in general? Coca Cola – pair task Product: Unique taste, strong brand, attractive, available in bottles too Place: available worldwide, customers can easily get hold of it, newsagents, supermarkets etc. What have Coke done for each P to try and meet their customers needs and wants? Price: competitive price, same as competitors Promotion: Television campaigns at Christmas, sponsors Pair task (15 mins) – Choose one task 1. You are selling boots to female adults. Develop a marketing mix for your target market. 2. You are selling computer games to teenage boys, develop a marketing mix for your target market. 3. You are selling chocolate to kids aged 5-10, develop a marketing mix for your target market. Challenge For your target market: Explain which P is probably the most important and why? Explain which P is probably the least important and why? Explain one reason why a business would charge higher prices for a product or service (3) Explain one reason why a business might choose to use social media to promote its products (3) 1. Because they have high quality products/strong brand PEERfeel ASSESS 2. Therefore customers might like it’s worth the high price 3. And therefore be willing to pay the higher price 1. Because many people use social media ASSESS to be aware of the products 2. Therefore more likely forPEER customers 3. As a result increase in sales revenue Group task - You will create a marketing mix for a drink/chocolate of your choice! 25 minutes Feedback/present Challenge: On the back of your A3 page, explain which P you think will lead to the success of your product and why? Plenary - 4ps song 1.27 https://www.yout ube.com/watch?v =zFENz_nnrq8 Plenary – In pairs, discuss what the most important P might be for your target market and why?