Marketing

Dylan Dow

Favorites

• Favorite Cereal: Cinnamon Toast Crunch • Favorite Snack: Cheez-Its with Hot

Sauce :D

Marketing Mix

• Definition of Marketing Mix: A marketing mix is the blending of the four market elements – product, distribution, price, and promotion.

Marketing Mix Cont.

• For Apple, they will lower the price and offer sales right before Christmas in order to get people to buy more of the items. They will also make more of the product in order to meet the demands of buying.

Target Market

• Definition: a specific group of consumers that have similar wants and needs

• Chevy Volt – People buying aa car, older crowd

• Generic Products – Anyone who wants to save money instead of buying expensive products

• Sailboat Vacation – anyone looking for a vacation, maybe retirees.

Decision Making

Step 1: Define your problem

Step 2: Identify the choices

Step 3: Evaluate adv/dis of choices

Step 4: Choose one

Step 5: Act on your choice

Step 6: Review your decision

Buying a new House

Step 1: Define your problem – What House to get?

Step 2: Identify the choices– 3 Story or 2 Story?

Step 3: Evaluate adv/dis of choices– Un/Expensive

Step 4: Choose one– 3 Story

Step 5: Act on your choice– Buy the House

Step 6: Review your decision– Awesome choice!

Buying Motives

• Definition: The reasons consumers decide what products and services to purchase

• Emotional: reasons to purchase based on feelings, beliefs, and attitudes.

• Rational: guided by facts and logic

Examples

• Emotional: Buying a car because the color looks nice, Buying a house because you hate the other one

• Rational: Choosing a car based on how many MPG it gets, Choosing a house based on its cost.