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What is the Marketing Mix?

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Presentation on theme: "What is the Marketing Mix?"— Presentation transcript:

1 What is the Marketing Mix?
Sports Marketing What is the Marketing Mix?

2 Do Now Question… The four P’s, or marketing mix, of marketing are known as Price, Product, Place (Location) and Promotion. In your opinion, which one do you think is most important when creating a business scheme? Explain your answer on the Index card provided. Once you have answered, please partner up with the person next to you and compare/discuss your opinion with your partner.

3 My Wiki Page… Please go to:
- Click the Sports Marketing Tab - Click the Sports Marketing Power Point This will give you access to the power point so you may follow along at your desktop.

4 Objectives Students will be able to understand the purpose of using marketing tactics. Students will be able to identify and explain the four major parts of the marketing mix. Students will be able to develop a project utilizing each aspect of the marketing mix using web based research.

5 Marketing Defined Because of competition, an organized marketing plan is essential. marketing the process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants Goods are tangible items, such as sports equipment. Services are intangible products, such as theater tickets.

6 Marketing Defined Organizations spend lots of money to learn about their customers needs and wants. needs a lack of basic necessities such as food, clothing, or shelter wants things that people desire based on personality, experiences, or information about a product Having a clear picture about the target market makes developing a marketing plan easier to accomplish. target market specific group of consumers that an organization selects as the focus of its marketing plan

7 The Marketing Mix marketing mix a combination of four basic strategies known as the 4 Ps—product, price, place, and promotion Marketers use a tool to develop strategies called the marketing mix. To be effective, all 4 Ps in a marketing plan must focus on the target market.

8 The Marketing Mix—The Four Ps
involve the goods, services, or ideas used to satisfy consumer needs. Product Decisions P involve the exchange process between the customer and the seller. Price Decisions P involve making the product available to the customer. Place Decisions P involve how the goods or services are communicated to the consumer. Promotion Decisions P

9 Review- On Your Own… 1. What do you think is the least important component of the marketing mix? Why? Name one example of a sports team or company that uses one aspect of the marketing mix toward a specific target market. Ex: The Philadelphia Phillies have “Bobble Head” night for kids under 14. Targeting younger children who need to come with parents to baseball games. This would be under the “Promotion” aspect of the marketing mix. 2. Quick Check Answers Marketing is the process of developing, promoting, and distributing products or goods and services. Marketing concept is how organizations satisfy their customers while also trying to reach their organization’s goals. A market consists of people with shared needs who have the desire and ability to buy a product. The marketing mix is a combination of four basic marketing strategies—product, price, place and promotion. To be effective these must focus on the target market.

10 Assignment Please go to my Wiki page: -
- Click on the tab that says Activities - Click on the activity that says “Ticket Mix Project”

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