1. December 14 & 15 Objectives Today’s Agenda Homework
51 – Explain the marketing concept.
57 – Describe the elements of the marketing mix.
Homework
Grades will be posted this week for Interims – check on Wednesday!
Today’s Agenda
Introduction to Marketing PowerPoint & Notes. Marketing Mix Assignment.
Closure
Why is it important to create a customer profile for the marketing mix?

2. Time Out! Review! A product Tangible
What is a good?
What is a service?
A product
Tangible
Something that is performed for you
Intangible

3. Explain marketing & the marketing concept.
Task #51

4. 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

5. What is Marketing?
Process of developing, promoting and distributing products to satisfy the needs and wants of consumers

6. Why?
The purpose of marketing is to help connect businesses with their customers!
Marketers are always trying to convert consumers into customers.

7. 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.

8. To what extent does quality of experience impact a customer’s overall satisfaction with a purchase?
If the goal of marketing was to make a profit, it wouldn’t matter how we treated the customer. If the goal of marketing was to satisfy wants and needs, we wouldn’t always make a profit.
Consider This…

9. 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!

10. 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.

11. Describe the elements of the marketing mix.
Task #57

12. 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?
Butter, sugar, eggs, vanilla extract, cocoa powder, flour, salt, baking powder.
Without eggs, the brownies are hard or crumble without form.

13. The Marketing Mix
Without the right mix of marketing strategies, a product is unlikely to succeed in the marketplace!

14. The Five P’s
People
Product
Price
Place
Promotion

15. Product
Refers to tangible, physical characteristics or features of a product
Examples
Brand Name
Quality
Packaging
Accessories or Services

16. 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

17. Place
Refers to where and how the product reaches the customer; also known as distribution
Examples
Specific Stores
Online Sales
Transportation & Processing

18. Promotion Refers to the communication of information Examples
Advertising
Personal Selling
Sales Promotions
Publicity

19. Don’t forget the target market!
Because of the importance of the customer, some marketers are now adding a fifth “P” to the mix…

20. The Five P’s
People
Product
Price
Place
Promotion

21. 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

22. Parents of School-Age Children
Product
GoGurt by Yoplait
Low-Fat Yogurt Snack
Portable – In a Tube!
Many Flavors
2.25 oz. Size
Made to Freeze – Easy Storage
Price
About $0.30 per serving
Costco  $10.00 per Box of 32
Place
Costco
Harris Teeter
Wegmans
Safeway
Giant
Promotion
TV Commercials Children’s Networks, Day Time TV
Magazine Advertisements Children’s Magazines, Mom Magazines
People
Parents of School-Age Children
Yoplait Go-Gurt

23. On Your Own Assignment Task
Each table will be assigned one category of products:
Blu-Ray or DVD 8) Jeans
Breakfast Food 9) Tablet
Car 10) Pick up Truck
Cell Phone 11) Headphones
Restaurant 12) Shampoo
Shoe 13) Toy
Video Game Console 14) Concert Tickets
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.