4 P’s of marketing - schools.misd.orgschools.misd.org/upload/template/8124/4 Ps of...
Transcript of 4 P’s of marketing - schools.misd.orgschools.misd.org/upload/template/8124/4 Ps of...
Marketing Mix• Marketing mix is a business tool used
in marketing and by marketing professionals.
Product• A product is seen as an item that satisfies what a
consumer needs or wants. – tangible good or an intangible service.
• Product includes all things about the particular item such as:
– Packaging
– Varieties
– Branding
– Image
– Quality standards
Price• The price is the amount a customer pays
for the product. – price is very important as it determines the
company's profit and hence, survival.
– Consider start-up cost
– Mark-up
– Competition
Promotion• Represents all of the methods of
communication that a marketer may use to provide information to different parties about the product .
• Promotion comprises elements such as
–Advertising/slogans
–Public relations
– Sales promotion
–Personal selling
Place• Refers to providing the product at a location
that is convenient for consumers to access.
• Includes considerations of where the product is made and how it is transported to stores.
TARGET
MARKET
PRODUCT/SERVICE
PRICE
PLACE
PROMOTION
A product can be tangible or intangible (a service
provided) and is the item being sold to the customer.
Where the product/service is made, stored and transported to the customer.
The amount of money a
customer is willing to pay for a product.
Promoting a product/service to make potential customers
aware of it: advertising, public relations, media, personal
selling and other strategies.
Specific group of potential customers
Activity #1Identify the Marketing Mix Elements:Product, Price, Place or Promotion
Complete the worksheet 4P’s
found in Black Board and submit into drop box
when finished.
Activity #2The 4 P’s of Marketing Activity
Think of one of your favorite products.
1. Create 1 slide in Power Point and identify the following:
a) Include a picture and name of your product
b) Price range (consumer cost and product options)
c) Placement (where is this product found)
d) Promotion (list all the ways it is advertised to consumers, show examples)
2. Submit in drop box “4P’s My Product” when complete