The Marketing Mix. The 5 P’s of Marketing People Price Place Product Promotion.

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Presentation transcript:

The Marketing Mix

The 5 P’s of Marketing People Price Place Product Promotion

The 5 P’s People – the target market Product – what is the product – (name, packaging) Price – what customers are willing and able to pay Place – where is it sold and how it gets there Promotion – how is the product marketed

Product Core Product: main product o Example: your football team, sports event, movie, stage show, book Ancillary Product: product related to or created from core product o Example: team t-shirt, amusement-park ride based on movie

Marketing Mix Activity Develop for your fantasy football franchise Remember that all decisions are centered around the target market. o Identify the core product o Determine an ancillary product o Describe where the products will be sold (distributed) o Determine the consumer price for each product (core and ancillary) o Determine how and where the product will be promoted