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Fruit Loops Cap’n Crunch Honey Smacks Guess the Cereal? Lucky Charms Cocoa Puffs Honey Smacks Guess the Cereal? Honey Nut Cheerios Frosted Flakes Trix Guess the Cereal? Cinnamon Toast Crunch Count Chocula Rice Krispies Guess the Cereal? “Breakfast of Champions” “Like a Good Neighbor” “Melts in Your Mouth, not…” “They’re Grrrreat!” Why do we know these slogans so well? We are bombarded with marketing messages everyday. Over 5,000 per day. Consumer Society (Market Economy) Consumer Societies are driven to attain purchasing power to buy goods & services. Marketing is a big deal in consumer societies. Marketing Strategy To Satisfy Consumer Needs and Wants Let Mikey try it! Give Them What They Want The fundamentals of marketing Marketing is… • Satisfying customer needs & wants through: Designing Promoting Selling Distributing • A Product or Service Marketing Mix is a Strategy Target Market Price Product Place Promotion Target Market A specific group of consumers at which a company aims its products and services Price Value? Location? How much does customer care about price? Competition? Product What to make? When to make it? Level of quality? How many? How to package and label? Place Where sold? What kind of store? Distribution? Salespeople? Competition? Promotion Where Promote? How Promote? Radio? TV? Billboards? Social media? When? Competition? Marketing Mix Product • Sweet & crunchy • Whole grain • Healthy, delicious Excellent source of B-vitaminsBright packaging, different size boxes Promotion • TV Commercials • Coupons • Sweepstakes • Offers • Recipes • Nutritional Info Graphic Organizer Price • Homemakers are cost conscious • Looking for value • Very competitive • Convenience stores more expensive Place • Retail stores • Supermarkets • Entire aisles • Marketing battlefieldFriendly, helpful salespeople
