CTE Intro The Four Ps of Marketing Product Place Price Promotion Product Can be Goods or Services Marketable Characteristics Target Market Definition Anything that can be offered to a market that might satisfy a want or a need ID: 601911
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Slide1
Introduction to Marketing
CTE IntroSlide2
The Four P’s of Marketing
Product
Place
PricePromotionSlide3
Product
Can be Goods or Services
Marketable Characteristics
Target Market
Definition
:
Anything that can be offered to a market that might satisfy a want or a need.Slide4
Target Market
Target market can refer to:
Gender
Age RangeLevel of IncomeLifestyle
Race
Social Class
Religion
Definition
: A group of customers that the business has decided to aim its marketing efforts towards.
Profession
Education Level
Marital Status
Geographic Location
InterestsSlide5
Target Market
What are the characteristics of the target markets of these TV shows?Slide6
Who is the Target Market?Slide7
Price
Definition:
The quantity of payment given by one party to another in return for goods and services
What happens if you charge too much?Too little?
How do you determine value?
Production Cost – cost of making the item
Also includes advertising, salaries of employees, cost of running business
Selling Price – amount you are charging the customer
Profit – amount you are making after subtracting the production cost from the selling price.Slide8
Price
Competition:
Another concept to setting price is considering your competitors prices. If your prices are much higher or much lower, that can affect your sales and also how your company is viewed.
“This brand costs the most—It must be the best.”
“This costs the least—it must be a piece
of junk.
”
“This is way overpriced—I’m not buying it.”
“This is expensive, but it’s the only place I can get it.”“This is a great price! I’m getting a good deal!”“I can get this cheaper at store X, I’ll get it there.”
If you have no competition, you can usually get away with charging more. But it’s only a matter of time until someone copies your idea. Patent: The exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years.Slide9
Promotion
Definition
: Attempting to persuade the public to buy the product or service.
How do you create demand for your product?How will you advertise your product and get it into the minds of consumers?
Commercials, ads, special promotions, community service, market research, public relationsSlide10
Slogans
“15 minutes could save you 15% or more on car insurance.”
“A rainbow of flavor.”
“The nighttime, sniffling, sneezing, coughing, aching, stuffy head, fever, sleep better to feel better medicine.”
“They’re magically delicious.”
“I’m
lovin
’ it…”
“Challenge Everything”
“The quilted quicker picker upper.” “Finger-Lickin
’ Good”“Think outside the bun.”“You can do it. We can help.”
Definition:
A memorable phrase used as a repetitive expression of an idea or purpose.Slide11
Logos
Definition
:
A graphic mark or emblem used to aid and promote instant public recognition.Slide12
Jingles
Toys R Us
McDonalds Filet-o-Fish
Pillow Pet
Les Olsen Company
Meow Mix
Twinkle Toes
Red Robin
State Farm
Definition:
A short tune used in advertising that contains lyrics that promote a product. Slide13
Place
Definition
:
Where and how the product is distributed and sold to the public.
Where
Countries
States
Cities
StoresLocation within storeHowOnline
Word of mouthIn a storeDoor to DoorInfomercialSlide14
The End