1. Marketing Concept & Mix

2. Review Marketing Functions:  Pricing  Selling  Distributing  Promoting  Marketing information management  Product/service management

3. 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 middle school students, parents, and Spartan fans. Student writes 2 more examples in notes of what they are the Target Market for

4. 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”

5. Marketing Mix The marketing mix: “The 4 P’s”  Product  Place  Price  Promotion

6. The Marketing Mix Product: what you are selling Place: where it is sold Price: how much it costs Promotion: how you hear about the product

7. Marketing Segmentation Market Segmentation: “dividing the total market into smaller groups of people who share specific needs & characteristics”  Demographics  Geographics  Psychographics

8. Demographics Demographics: “statistics that describe a population in terms of personal characteristics”  Age  Race  Gender  Income level Used to describe Target Market Example: demographics for our student store:  Age: 12-14  Race: All races  Gender: Male & Female  Income Level: middle income

9. Demographics Think of an example of a store that could use demographics when determining their target market and put it in your notes. List:  Age  Race  Gender  Income level

10. Geographics Geographics: “based on where people in the market live”  Local  Regional  National  Global Example: geographics for Ashburn Ice House  Local hockey teams & fans  Regional hockey teams Students will put an example in their notes.

11. Psychographics Psychographics: “studies of consumers based on social & psychological characteristics”  Attitudes  Values  Lifestyles Example: psychographics for me  Attitude: positive outlook on life  Values: no cheating, honesty, hard-work  Lifestyle: budget-conscious,, full-time employee Student will put an example in their notes for themselves.