Marketing Crash Course

Marketing: The process of developing, promoting, and distributing products and services to satisfy customers’ needs and wants. –Developing – studying customers to determine their wants & needs. –Promotional Activities – Educate customers, create interest, desire, make a sale, create an image. –Distribution – getting the product to the consumer

Marketing Concept – Understanding these needs when you make the plan, make, distribute and promote the product. Plan –Recognize the need and then you produce the product. Plan –Recognize the need and then you produce the product. Production – Make the product – How big, what color, price, etc. Production – Make the product – How big, what color, price, etc. Distribution – Where will we sell the product ? Wal-Mart, Target, Lowes? Distribution – Where will we sell the product ? Wal-Mart, Target, Lowes? Promotion – Commercials, Magazines, BOGO, etc. Promotion – Commercials, Magazines, BOGO, etc.

Implementing the Marketing Concept 1. Identify Target Market 2. Develop a Marketing Mix

Target Market: Who and where does your business/product/service want to serve. Very specific Very specific Examples: Gatorade, Athletes Examples: Gatorade, Athletes Pavilion – Health conscious individuals and families who live in the Georgetown area. Pavilion – Health conscious individuals and families who live in the Georgetown area.

Develop a Marketing Mix Product – Anything offered to a market by a business to satisfy needs (product, service, idea. Product – Anything offered to a market by a business to satisfy needs (product, service, idea. –Product – Coke, Bicycle, Trampoline –Service – Barber Shop, Oil Change, Piano Lessons –Ideas – Vote for Mitch McConnell

Price Actual amount of money customer pay Actual amount of money customer pay

Place – (Point of Sale) – Locations and methods used to make the product available to customers. Mall Mall Infomercials Infomercials Magazine Magazine Catalog Catalog Internet Internet

Promotion – How you will encourage purchases and increase customer satisfaction BYGO Free BYGO Free Free Samples Free Samples Bill Boards Bill Boards Commercials Commercials Magazine Ads Magazine Ads