1. APPLYING THE MARKETING MIX TO A PRODUCT To Market, To Market K Wissel 2010

2. Achievement Standard 1.4 Apply the marketing mix to a new or existing product Internal Assessment - 3 Credits You need to: Apply your understanding of the marketing mix to a new or existing product. Present your findings of the following four elements of the marketing mix.  Product  Price  Place  Promotion K Wissel 2010

3. Introduction GatheringProcessingApplying K Wissel 2010

4. Gathering: Framework Four P’s ProductPricePlace Promotion K Wissel 2010

5. Processing: Understanding and learning how information, knowledge and skills from the gathering stage will apply to your internal assessment. Applying: Apply Marketing Mix business knowledge to internal assessment requirements. Framework cont. K Wissel 2010

6. Slushy Stand Activity Congratulations on opening your Slushy business! In your groups please follow the instructions below to complete the activity. Each group should have: 1.A town map 2.Calendar of town events 3.Your Slushy Sales Plan Chart (each person) You will use all of the information provided to complete your 4 weekend table. You need to consider the following when planning your slushy stand. Place – Where is the best location? Product – How much will you invest in product considering the other factors. Price - How much are you going to charge? Promotion - What methods will you use to sell your lemonade? You need to consider the whole picture and refer to your key!! K Wissel 2010

7. Activity continued Let’s do one together!! DateWeather Forecast PlaceProductPricePromotion Saturday 1 st & Sunday 2 nd Sunny High 16°C Outside tourist info on Victoria Road Ok – off you go!!! Discussion K Wissel 2010

8. Town Map K Wissel 2010 Disclaimer

9. North Down Events Calendar – January 2011 MondayTuesdayWednesdayThursdayFridaySaturdaySunday 12 345678 Busking Festival – On Queens Parade 9 Busking Festival – On Queens Parade 101112131415 Medieval War Games – Bangor Castle 16 Medieval War Games – Bangor Castle 17181920212223 Summer Farmers Market – Bangor Market 242526272829 Dunk the Teacher – Family Fun Park & Annual 80+ Bowling Tournament – Leisure Centre 30 31 K Wissel 2010

10. Slushy Sales Plan – January 2011 DateWeather Forecast PlaceProductPricePromotion Sunny High 16°C High Humidity Overcast High 26°C Sunny High 14°C Drizzle High 23°C High Humidity K Wissel 2010

11. Key To complete your chart you need to draw the following to represent each area: ProductPricePromotion CoolCheapSelf Seller ColdAverage Phone Sales Very Cold Expensive Door to Door K Wissel 2010

12. Scarborough Fair Organic Adore Chocolate Case Study Introduction

13. Topic 1. Product K Wissel 2010 Definition What is a ‘product’ as per Marketing Mix Good or service that most closely meets the requirements of a particular market and make enough profit to continue production. requirementsmarketprofit Please copy into your workbooks.

14. Learning Outcomes K Wissel 2010 Describe the product. What is it? Identify and describe three of its target markets. Fully explain one feature of the product’s physical packaging and it’s function. Identify and explain the product’s unique selling point. Copy into workbook

15. Target Market K Wissel 2010 The 7 Feature Areas Income Age Gender Household Geographical Area Religion/Beliefs Lifestyle Copy into Workbook CSE (Case Study Example) Scarborough Fair Chocolate Income – middle to high due to cost of production Age – 25 plus – packaging not terribly appealing to younger groups Beliefs – anti slavery, pro fairtrade

16. Activity K Wissel 2010 You will be given a card with a product on it. Around the classroom you will see 7 different cards. On these cards there are different groups. You need to read each card and find at least three of the 7 target market features to suit your product. If the card does not suit your product go on to the next one. Complete questions in workbook.

17. Product Life Cycle (PLC) It is based upon the biological life cycle. For example, a seed is planted (introduction); it begins to sprout (growth); it shoots out leaves and puts down roots as it becomes an adult (maturity); after a long period as an adult the plant begins to shrink and die out (decline). K Wissel 2010

18. Packaging K Wissel 2010 Identify Explain  Purpose  What is it’s aim?  Does it achieve it? How?  Unique selling point? What, Why, Who, How & Where? Inference Diagram Activity

19. K Wissel 2010