1. Marketing Unit Three Gabby Douglas--- Kellogg's
Derrick Rose---- Adidas
Michael Phelps--- Subway
Jennifer Hudson--- Weight Watchers

2. The Marketing Plan- Chapter 10
IDENTIFY the purpose of the marketing plan
DESCRIBE the part marketing tactics play in the marketing plan
NAME the five marketing strategies that make up the marketing mix

3. MARKETING--- WHAT IS IT?!
-Important to every business
Process of developing, promoting, and distributing products to satisfy to objectives of customers and businesses.
Marketing the iPad and iPad Apps

4. What do you need before you start marketing?
Marketing Plan
Blueprint used by a business to guide its marketing
activities to a desired conclusion.
It should include:
Marketing Tactics
Activities that need to be taken to carry out the marketing plan
Target Market
Objectives
Mix of Marketing Strategies
Marketing Budget
Marketing Tactics

5. Marketing Definitions
Target Market
The group of people you plan to market your product to.
(Demographics)
Marketing Objectives
Goals a business wants to accomplish through its
marketing efforts.
Who is your target market?
What are your marketing goals?

6. FIVE “P”s of Marketing Marketing Mix Product Price Place Promotion
PEOPLE!
Forming marketing objectives enables you to specify what you want to accomplish through your marketing initiatives. Developing the marketing mix enables you to map out how you are going to do it.

7. PRODUCT
Marketing Mix

8. Product Strategy What goods and services is your business going
to provide consumers?
Your product will be identified by…
Brand: Name, symbol, or design used to identify a product
Package: Physical container or wrapper that holds the product
Label: Part of package used to present information
When considering your product, you need to think about the package of features and benefits your customers find desirable.

9. Product Strategy Product Positioning Product Mix
How consumers view your product compared to the
competitions product.
Prestigious?
Good Bargain?
Equal in Quality?
Product Mix
All of the products a company makes and sells.
EX: Kim Kardashian
Product Mix-
If you are marketing more than one product, you need to decide how you are going to relate them to one another.

10. PLACE
Marketing Mix

11. How are you going to deliver your goods and
Place Strategy
How are you going to deliver your goods and
services to customers? Will your product be for
sale where and when your customers what it?
Channel of Distribution
Path your product takes from producer (manufacturer)
to consumer
Direct Distribution: Move from producer to consumer with NO ONE in between
Indirect Distribution: Intermediaries move products between producer to consumer.

12. T-SHIRT 1) Producer Business that gathers raw goods.
Materials gathered in their original state from natural resources.
T-SHIRT
Cotton & Polyester

13. T-SHIRT 2) Processor Changes raw materials into a more finished
product.
T-SHIRT
Turn cotton and polyester into thread
Create Twill for seam binding

14. T-SHIRT 3) Manufacturer Business that makes finished products out of
processed products.
T-SHIRT
Creates the t-shirt of out the thread and seam
binding

15. T-SHIRT 4) Intermediary Business that moves goods from one business
to another.
It buys goods, stores them, and then resells them.
T-SHIRT
Buys the ready-made t-shirts in very large quantities and
stores them. They sell these shirts to wholesalers

16. 5) Wholesaler (Distributor)
Distributes goods by dividing large quantities
into smaller ones and sells them to retailers.
T-SHIRT
Divide and distribute the t-shirts in smaller quantities to stores

17. 6) Retailer
Purchases goods from a wholesaler and sells them to
consumers, the final buyers of the goods.
Consumers buy the t-shirt from a retailer.
Kohl's
American Eagle
T-SHIRT

18. Graphic Organizer Wholesaler Processor Manufacturer Retailer Producer1. 2. 3. 4. 5. 6.
Processor
Manufacturer
Retailer
Producer
Intermediary

19. Team Teaching Group 1: Selecting a Channel of Distribution (229)
Intensity of Distribution (230)
Group 3:
Transportation ( )
Group 4:
Location, Layout, Availability (231)
Group 5:
Questions to Ask About Place Decisions (232)
Group 6:
Impact of Technology on Place Strategy (232 & Figure 10.3)

20. The Price Strategy- Chapter 11
IDENTIFY factors that affect pricing strategy
SUMMARIZE the marketing objectives related to pricing
DESCRIBE the components that go into making price strategy decisions

21. PRICE
Marketing Mix

22. THINK/PAIR/SHARE--- 3 examples of each!
Price Strategy
Setting a price for a good or service is not easy.
Things to take into consideration:
Fixed Expenses: Costs that DO NOT vary with the
number of units sold
Variable Expenses: Costs that DO vary with the
THINK/PAIR/SHARE--- 3 examples of each!
COSTS
SUPPLY AND DEMAND
CONSUMER PERCEPTIONS
COMPETITION
GOVERNMENT REGULATIONS
TECHNOLOGICAL TRENDS

23. Dominick's and Jewel Price Fixing Article
Supply and Demand
Inelastic Demand:
Customers will buy a product regardless of price
Elastic Demand:
Prices are sensitive to demand
Dominick's and Jewel Price Fixing Article

24. What should your prices be for your specific target market?
Consumer Perceptions
Prices too ?
Consumers may believe your product lacks quality
Prices too ?
Consumers may believe your product is of higher quality and status
What should your prices be for your specific target market?

25. Government Regulations
Price Gouging Practice of pricing above the market with no alternatives Price Fixing An illegal practice in which competing companies agree on specific prices Unit Pricing Required pricing of goods on the basis of the cost per unit of measure (pound, ounce)

26. Competition-Based Pricing
Setting a Basic Price
Cost-Based Pricing
You must consider your business costs and profit
Objectives
Markup: The amount added to your cost to cover expenses
Demand-Based Pricing
Only used if your product is inelastic AND your
Product has a greater value than competitors
Competition-Based Pricing
Find out what your competition charges and then
decide if your price should be lower, the same, or
higher

27. Flexible-Pricing Policy
Pricing Policies
Flexible-Pricing Policy
Allows customers to bargain for a price
Advantages and Disadvantages?
Examples?
One-Price Policy
All customers are charged the same price

28. PRICING WORKSHEET! Pricing Techniques Discount Pricing
Cash Discounts (2/15, n/30)
Quantity Discounts
Seasonal Discounts
Psychological Pricing
The customers perception of the product are strongly influenced by price
PRICING WORKSHEET!

29. (Fixed Cost/Unit Selling Price)-Variable Costs
Calculating Prices
Break-Even Point– When the cost to make the item equals how much you made
(Fixed Cost/Unit Selling Price)-Variable Costs
Markup- Amount added to the cost of an item to cover expenses and ensure a profit $$
Price – Cost = PROFIT!
Markdown- The amount of money taken from the original price
Price X Markdown % = $ Markdown

30. The Promotion Strategy- Chapter 12
EXPLAIN the role of the promotion strategy
EXPLAIN how to formulate promotional plans
IDENTIFY considerations for putting together a promotional mix
DESCRIBE the elements of a promotional mix

31. PROMOTION
Marketing Mix

32. Communication intended to persuade, inform,
Promotional Strategy
Communication intended to persuade, inform,
and remind a target market about a business
and its products
Promotional Plans
Preopening Plan
Establish a positive image
Let customers know you are opening for business
Bring in customers/have them contact you
Make customers interested
Ongoing Plan

33. Selecting a Promotional Mix
Combination of different promotional elements that a company uses to reach and influence potential customers
Considerations that need to be made:
Target Market
Product Value
Promotional Channels
Time Frame
Cost

34. Advertising
Paid non personal presentation of ideas, goods, or services. Advertising Campaign- Series of related promotional activities with a similar theme Successful Advertising Campaigns

35. Different Types of Advertising
Newspapers
Magazines
Direct Mail
Outdoor Advertising
Directories
Transit Advertising
Specialty Items
Television
Radio
Internet
Ikea– bus stop (guerilla advertising)

36. ** #1 Fastest growing medium for advertising **
Internet Advertising
** #1 Fastest growing medium for advertising **
Website Goals:
Attract Visitors
Convert Visitors
Advantages
Disadvantages
Expanded Markets
Buyers do not have an opportunity to physically see the product
No Geographic Location
Security
Cost Savings
Quick Turn Around Time

37. Sales Promotion
The use of incentives or interest-building activities to stimulate traffic or sales. Premiums- Anything of value that a customer receives in addition to the product purchased (ex.- coupons and gifts) Rebates- a return of part of the purchase price

38. Sales Promotion Cont. Displays
Samples- Free trial size samples or in store samples (Costco!)
Sweepstakes and Contests
Sweepstakes: a simple game of chance
Contest: Customer has to do something to win

39. Customer Knowledge Rational Buying Motive Emotional Buying Motive
A conscious, logical reason to make a purchase
Product dependability
Time or money savings
Convenience
Comfort
Health or safety issues
Recreational value
Service
Quality
Emotional Buying Motive
A feeling a buyer associates with a product
Social approval
Recognition
Power
Affection
Prestige

40. Publicity
Placement in the media of newsworthy items about a company or product
Ways to draw attention to your business:
Write news releases- brief newsworthy story sent to the media
Write Feature Articles
Submit captioned photos
Call a press conference
Seek interviews
Public Relations- activities designed to create goodwill toward a business

41. Budgeting for Promotion
Industry Average- Standard used to compare costs from promotional expenses
Not Creative? GET HELP!
All major media advertising companies have advertising departments
Cooperative Advertising- Advertising costs are divided between two + parties
Advertising Agency- Company that acts as an intermediary between the business and the media to communicate a message to the target market
Web Designers

42. PEOPLE
Marketing Mix

43. People Strategy How will your business assemble, prepare, and maintain
the people who will help you achieve success?
Basic Hiring Criteria
Developing Employees
Establishing a productive environment
Rewarding Employees
Hiring-
-All dictated by the needs of your business
-Positive Attitude and ability to learn
Developing Employees-
1. Orientation: Describing the vision of the company, plans to carry out, and expectations (new teacher orientation)
2. Training: For specific skills employees need now and in the future
Productive Environment-
-Healthy atmosphere where employees are treated with respect and trust so they are empowered to do the right thing
-Employees should feel like members of a productive and winning team
Rewarding Employees-
Monetary
Vacations, time off
The more people feel rewarded, the longer they will stay and the longer people stay, the more knowledge they gain of the business

44. Commercials
Add relevant commercials and discuss the 5 “P”s of marketing.