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Marketing 1 Lesson Plan Day 6
Opening Bell Activity- (Cesar) Review Strands 1 and 2, Strand 2, Standards 2 and 3- Teacher led discussion. Group project Shark Tank
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Day 6 Marketing 1 Strand 1 (Review)
Standard 1: Students will understand the basics of marketing including the 7 core functions and the 4P's of the marketing mix.-Channel management, Marketing information Management, Market Planning, Pricing, Product Service Management, Promotion, Selling. Standard 2: Understand the marketing mix or 4P's of marketing. Identify the four elements of the marketing mix. Product Price Place Promotion Explain how each component of the marketing mix contributes to successful marketing.
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Strand 2 (Review) Students will understand how a company considers internal and external factors to understand the current market. Standard 1-Understand the internal and external influences of marketing planning. Define a marketing plan. Understand market position and market share Explain how a business can use a SWOT analysis to plan for opportunities in the market.
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Strand 2 (New) Students will understand how a company considers internal and external factors to understand the current market. Standard 2- Understand the concept of market and market identification. Define the term market. Define the term target market. Identify examples of niche marketing. Understand how to identify an appropriate target market within a specific industry. Understand types of markets including: Business to Business (B2B), and Business to Consumer (B2C)
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Strand 2 (New) Students will understand how a company considers internal and external factors to understand the current market. Standard 3- Understand the concept of market segmentation. Define the term market segmentation. Explain the commonly used types of market segmentation. Demographic Segmentation Geographic Segmentation Psychographic Segmentation Behavioral Segmentation
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Market All people who share similar needs and wants and who have the ability to purchase a given product.
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Target Market The group of people most likely to become customers, identified for a specific marketing program.
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Niche Marketing Concentrating all marketing efforts on a small but specific and well defined segment of the population. Pet sitting Weight loss Dating Tattoo removal
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How do you identify a target market within a specific industry?
Clothing industry (Market) High School Students (Target Market) Extra long pants (Niche Market)
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Business to Business Marketing?
Referred to as B2B Examples Isolved Mr. McKnights Elevator Company Microsoft
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Business to Consumer Marketing?
Referred to as B2C Examples McDonalds Van's Microsoft
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Market Segmentation The process of classifying people who form a given market into even smaller groups.
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Group Activity Part 1 Break into groups of 3 or 4. Each member of the group select one of the following terms and provide a definition and example to the rest of the group: Demographic Segmentation Geographic Segmentation Psychographic Segmentation Behavioral Segmentation
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Group Activity Part 2 Break into groups of 3 or 4. Each member of the group select one of the following terms and provide a definition and example to the rest of the group: Identify a Market and give an example Identify a Target Market within your Market Identify a Niche Market within your Market
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Shark Tank Pay attention to what the guests are presenting. Did they do a market analysis, did they consider what strengths and weaknesses their product has? Did the sharks as questions in regards to these items?
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