Applying the Terms.  Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs.

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Presentation transcript:

Applying the Terms

 Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs.

 Goods: tangible (can touch)  Example: pen, football, t-shirt  Services: intangible (cannot touch)  Example: dry cleaner, waiter, teacher

 Target Market: “focuses all marketing decisions on the specific group of people you want to reach”  EXAMPLE: The Target Market for the School Store is high school students, parents, and Falcon fans.

 dividing the total market into smaller groups of people who share specific needs & characteristics  Demographics: “statistics that describe a population in terms of personal characteristics”  Age  Race  Gender  Income level Used to describe Target Market

 The marketing concept:“states that to make a profit a business must focus all efforts on satisfying the needs & wants of the customer”

 The marketing mix: “The 4 P’s”  Product  Place  Price  Promotion

 Students divide into teams of 2-3 people  Design a new item for the BWHS school store (may use customink.com to complete design)  Apply the Marketing Mix to this new product  Create a PPT presentation to present to class