Transcript 5 - Marketing Mixx

Today I will: investigate through reading, writing, listening, and
engaging discussion the “Marketing Mix”
So I can: List and understand the four components of the Mix
I will know I’m successful when: I can identify all four
components for any product. I then will be able to formulate the
basic, central recipe for all Marketing plans as I move forward.
Books needed today. Read pages 20 – 23. You know the
drill… write while you’re reading.
Marketing Mix – includes four basic marketing
strategies called the Four P’s. This is the
basic, central recipe for all 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 – how much are customers willing to pay, what are
competitors charging
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 the V8 Fusion graphic
on Page 22 of the text book.
Basket of Destiny today – be ready!