Download The Marketing Mix

Now looking at your list – can you
figure out what each company
(or product) was by what you
wrote down – 2minutes.
Marketing is the process of planning and
executing the conception, pricing,
promotion, and distribution of ideas,
goods, and services to create
exchanges that satisfy individual and
organizational objectives
 Includes a range of activities
 Ongoing process that changes
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https://www.youtube.com/watch?v=po
0jY4WvCIc
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https://www.youtube.com/watch?v=T40
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Marketing IS:
BOOK DEFINITION:
The process of planning, pricing,
promoting, selling, and distributing
ideas, goods, or services to create
exchanges that satisfy customers.
PLANNING = PRODUCT
PROMOTING= PROMOTION
PRICING = PRICE
DISTRIBUTING= PLACE
The idea that a business should strive to
satisfy customers’ needs and wants while
generating a profit for the business
 Customer focus
 A company’s plan identifies how it will
use marketing to achieve its goals is
called a marketing strategy

1.
Identify a target market
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›
2.
A target market is a specific group of
customers that have similar wants and
needs
Easier to develop products and services
that customers want
Create a marketing mix
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THE 4 Ps
 Decide
who your target market is
 What the product is and how
does it appeal to the market
 How much is this product sold for
 Where is this product sold
 How is it promoted
The Marketing Mix is the blending of 4
marketing elements – Price, Product,
Place, Promotion (5th – People)
 A successful marketing mix satisfies the
wants and needs of the target market
 Provides a profit for the company

MARKETING MIX – 4 P’s
• PLACE
• PRODUCT
• PRICE
TARGET
MARKET
• PROMOTION
 Choosing
what products to
make and sell
 ‘Old’ products needing
improvements or updates
 What will appeal to the target
market
 Price
strategies should reflect
what the customers are willing
and able to buy
 Compare prices to
competition – be competitive
 Promo pricing helps to launch
new products
 Advertising,
personal selling,
sales promotion and publicity
 Should reinforce the image
wanted
 Remember the audience
 Getting
the product to the
consumer’s hands
 Where do your customers
shop?
 Transportation methods