Marketing Basics Marketing 1

Marketing Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs.

Goods v. Services Goods: tangible (can touch) Example: pen, football, t-shirt Services: intangible (cannot touch) Example: dry cleaner, waiter, teacher

Target Market Target Market: “focuses all marketing decisions on the specific group of people you want to reach” EXAMPLE: The Target Market for the School Store is high school students, parents, and Falcon fans.

Used to describe Target Market Market Segmentation dividing the total market into smaller groups of people who share specific needs & characteristics Demographics: “statistics that describe a population in terms of personal characteristics” Age Race Gender Income level Used to describe Target Market

Marketing Concept The marketing concept:“states that to make a profit a business must focus all efforts on satisfying the needs & wants of the customer”

The Marketing Mix Product Place Price Promotion People (Target Market) The marketing mix: “The 5 P’s” Product Place Price Promotion People (Target Market)

Marketing Mix Project Students divide into teams of 2-3 people Design a new item for the BWHS school store (may use customink.com to complete design) Apply the Marketing Mix to this new product Create a PPT presentation to present to class