Each marketing plan of action includes these 4 ps

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Presentation transcript:

Each marketing plan of action includes these 4 ps Marketing is the 4 Ps Product Place Price Promotion Each marketing plan of action includes these 4 ps

Product Anything that can be bought or sold Goods, services, and ideas Good – a physical item, something you can touch Examples… Services – actions that are done for you Ideas – a concept, cause, issue, image, or philosophy that can be marketed Think of a product that you use. How would you change it to better meet your needs? How would you change it to meet others’ needs?

Goods, services, ideas Review the meaning of good, service, and idea List all the goods, services, and ideas that are available at school

Place Making products available to customers Determining when, where, and how products get to customers Decisions about where to locate stores Decisions about having products available at convenient times and places Distribution – the process of physically delivering goods to customers Shipping, storing, inventory, and stocking goods Have you experienced poor place decisions?

Price The amount of money requested or exchanged for a product Marketers determine the price they charge Can set price at any level Must remember to set prices so customers can and will buy the products Setting the best price is important for business success and customer satisfaction Does the price of a product affect whether you will buy it?

Promotion The process of telling people about the product and the company that offers it Telling the price and place where it is offered Promotion is the most visible part of marketing Includes selling, advertising, sales promotion, and publicity Examples… Also focuses on the company rather than the product Promote a positive image of the company and its products Name three locations that you have seen an ad this past week. What were the ads? Did any of the ads influence you to make a purchase?