Transcript The Marketing Concept

December 14 & 15
OBJECTIVES
51 – Explain the marketing concept.
57 – Describe the elements of the marketing mix.
TODAY’S AGENDA
1) Introduction to Marketing
PowerPoint & Notes. Marketing Mix Assignment.
HOMEWORK
Grades will be
posted this week
for Interims –
check on
Wednesday!
CLOSURE
Why is it
important to
create a
customer
profile for the
marketing mix?
Time Out!
What is a good?
◦A product
◦Tangible
What is a service?
◦Something that is
performed for you
◦Intangible
Explain marketing & the
marketing concept.
TASK #51
Key Terms
◦Product
includes both goods & services that have monetary value
◦Consumer
person who purchases goods or services for personal use
◦Customer
person who buys goods or services from a business
What is Marketing?
◦Process of developing,
promoting and
distributing products to
satisfy the needs and
wants of consumers
Why?
◦ The purpose of marketing is
to help connect businesses
with their customers!
◦ Marketers are always trying
to convert consumers into
customers.
The Marketing Concept
◦The marketing concept is the idea that a business should
(1) strive to satisfy customer needs and wants while
(2) generating a profit for the business.
To what extent does quality of
experience impact a customer’s overall
satisfaction with a purchase?
CONSIDER THIS…
The Target Market
◦ The group of people
identified as the most likely
to become customers are
known as a target market.
◦ These are the people a
business wants to reach with
their goods or services!
The Marketing Mix
◦Once a business has identified its target market, a
marketing plan is developed based on the marketing mix.
◦Known as the Five P’s, the marketing mix includes the
tools that marketers use in order to influence potential
customers in a target market.
Describe the elements of
the marketing mix.
TASK #57
Think About It!
◦What ingredients do you
need in order to make a
batch of brownies?
◦What happens if you
forget to add the egg(s)
to the recipe?
The Marketing Mix
◦Without the right mix of
marketing strategies, a
product is unlikely to
succeed in the
marketplace!
The Five P’s
Product
Price
People
Place
Promotion
Product
◦ Refers to tangible, physical
characteristics or features of
a product
◦ Examples
◦ Brand Name
◦ Quality
◦ Packaging
◦ Accessories or Services
Price
◦ Refers to the exchange for a
product; should reflect what
customers are willing & able
to pay (demand)
◦ Examples
◦ Low-Price Strategy
◦ Seasonal Pricing
◦ Bundling
Place
◦ Refers to where and how the
product reaches the
customer; also known as
distribution
◦ Examples
◦ Specific Stores
◦ Online Sales
◦ Transportation & Processing
Promotion
◦ Refers to the communication
of information
◦ Examples
◦ Advertising
◦ Personal Selling
◦ Sales Promotions
◦ Publicity
Don’t forget the target market!
◦Because of the
importance of the
customer, some
marketers are now adding
a fifth “P” to the mix…
The Five P’s
Product
Price
People
Place
Promotion
People
◦ A well-defined target market
includes specific
characteristics of the likely
customer.
◦ Examples
◦ Teenagers and Young Adults
◦ College Graduates
◦ Health-Conscious Women
◦ Parents of Young Children
PRODUCT
PRICE






 About $0.30 per serving
 Costco  $10.00 per Box of 32
GoGurt by Yoplait
Low-Fat Yogurt Snack
Portable – In a Tube!
Many Flavors
2.25 oz. Size
Made to Freeze – Easy Storage
PLACE
 Costco
 Harris Teeter
 Wegmans
 Safeway
 Giant
PEOPLE
Parents of
School-Age
Children
PROMOTION
 TV Commercials
Children’s Networks, Day Time TV
 Magazine Advertisements
Children’s Magazines, Mom
Magazines
On Your Own
Assignment
Each table will be assigned one category of products:
1) Blu-Ray or DVD
8) Jeans
2) Breakfast Food
9) Tablet
3) Car
10) Pick up Truck
4) Cell Phone
11) Headphones
5) Restaurant
12) Shampoo
6) Shoe
13) Toy
7) Video Game Console 14) Concert Tickets
Task
◦ You may select the specific brand / product
for the category you were assigned.
◦ Create a single PowerPoint slide to
represent the marketing mix for it! Be as
specific as you can for each “P” description.
◦ Upload your finished PowerPoint slide on
Global in Student Submission/Celio/Block #
for grading.