Aim: What are the steps in developing an effective marketing strategy? Do Now: Handout - What is the difference between goods and services?
Homework At home find an ad to bring in. Explain how you could change the target market.
Business and Our Economy Producers and manufacturers convert raw materials into consumable goods/services. A good is something that you can use or consume, like food or CDs or books or a car or clothes A service is something that someone does for you, like give you a haircut or paint your house
Who are these phone geared towards? Are cell phones a good or a service? Who are these phone geared towards?
Marketing Basics Marketing planning Marketing strategy—a company’s plan that identifies how it will use marketing to achieve its goals
Marketing Basics Developing a marketing strategy Target market—a specific group of consumers that have similar wants and needs Marketing mix—the blending of four marketing elements—product, place (distribution), price, and promotion
Let’s Recap What is the difference between a good and a service? Give an example of each What are the four elements of the marketing mix? A specific group of consumers would be considered a_______________? Describe Marketing Strategy.
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Who is the target audience?
Aim: What are the steps in developing an effective marketing strategy? Do Now:
Do Now: Define Marketing strategy. To create a marketing strategy what two things must an business identify? Describe each. Why does a business use a celebrity in their marketing strategy?
Presentation When your name is called, come to the front of the class and show your advertisement. Explain how you could change the ad in order to change the target market.