1. Nat 5 Business Management - Marketing
Marketing Mix
Nat 5 Business Management - Marketing

2. Lesson Starter Think-Pair-Share:
Think about the different decisions you make when looking at or thinking about buying a product/service.
What helps you to decide between one product or another?
Discuss with your partner and write down some ideas.

3. Learning Intentions At the end of this lesson, you should be able to:
Confidently describe the elements of the Marketing Mix
Understand why this is important in decision-making

4. Task
Copy out the following table:
Product
Price
Place
Promotion

5. The Marketing Mix Product
The actual item (good/service) that is produced and then sold
Price
How much money is being charged to buy the product
Place
This is the market the business chooses to make the product available to the customer
Promotion
How the customers are told about and encouraged to buy the product – can be done in different ways.
** Remember – promotion is more than just advertising!

6. Why is the Marketing Mix Important?
Product
The product must be what customers want or else no one will buy it!
Market research will help a business determine what customers want.
Price
The product must be priced correctly so that customers will buy it but also not too low that the business doesn’t then make a profit.
Price reflects Quality?
Competition?
Place
The product must be accessible to the customer – they must be able to get to it!
Could be in different places – shops, internet, TV etc.
Promotion
Product has to be promoted so that consumers know it exists!