Marketing Mix OBJECTIVES: -Discuss the 4 P’s of Marketing -Identify Marketing Mix Concepts -Create a Marketing Mix Presentation

Opening Activity Gatorade  Why does Gatorade have so many products?  Are they all for the same customer?  Do you think that they sell for the same price? If not, why?

What is Marketing? Putting the right product in the right place, at the right price, at the right time.

Quick Review Target Marketing a specific group of customers that a company will direct its products and services to. Age, gender, and economic status define target markets.

MARKETING MIX  THE 4 P’S -PRODUCT -PLACE -PRICE -PROMOTION

PRODUCT  What is the product?  How will it satisfy the customers need?  How is it be packaged?  What is the brand name?  What is the image I want my product to project? Top ad icons of the century!!! Question-Pick one of the ad icons and answer the questions above.

PLACE  Where will my product be sold? -Specialty Stores -Mass Merchandisers -Department Store -Boutique Shops -Combination of Stores

PRICE  Supply and Demand  Stay Competitive With Pricing  Is there prestige in ownership that will make the customer want to pay more. (example: Nike/ Starbucks)  Consider the Customer and Consumer  What is the value to the buyer?

PROMOTION  What media will you use to promote your product?  How will you “launch” your product?  What will be your promotional message? Can you think of the promotional messages of these famous brand’s?

Promotion Product Target Market Price Place “ Lil Tiger” Active Boys Ages 6-12 Suggested Retail $ Fl oz $ Fl oz $4.00-Back Pack Spray Large Department Stores Small Retailers Any Place Boys Clothing Is Sold “Bring out the “Lil Tiger” In you! (Promotional Message) Print Ads in National and Local Magazines (Non-personal activity) Instant $1.00 off at Retail Outlets Product Launch-Have Lil Tiger Mascot giving samples of cologne At mall store locations. Give free Backpack spray with in store Purchase. Created by: Raquel Pabst Sample

Product Target Market Promotion Price Place Target Market-Who will your product be targeting? Male, Female, Adults, Teenagers, or Children? What is the age group? What Psychographics or demographics will be considered for your product? Where will the location of your product sell at? Give examples of the type of locations that your product would be sold at. You may draw, use magazines and newspapers, or use the computer. Do you have a competitor that may sell a similar product? Stay competitive with pricing. Low price doesn’t mean high profit. You will have to sell a higher quantity at a lower price to make a profit. State the suggested retail price. How will you further the sales of your product by using non- personal activities that reach a larger audience? What type of sales will you consider having to launch your product? What is your promotional message? Created by: Raquel Pabst

Product Target Market - Promotion Price Place