Warm-up1. Booking airline tickets for vacationers is

an example of __________ marketing.a. Feature

b. Benefits

c. Service

d. Goods

Agenda 10 Question Seven Functions Quiz

You can work with partner & use notes Everyone completes quiz Everyone is done work on Psychology of Color Project Quiz is your grading sheet

melissa1shaffer@weebly.com Take Ad Meter Survey Vote on commercials

Time Permits (Marketing Mix Notes / Assignment)

Commercials 1st Quarter

http://admeter.usatoday.com/story/sports/ad-meter/super-bowl/2014/02/02/ad-meter-category-1st-quarter-commercials/4647485/

2nd Quarter http://admeter.usatoday.com/story/sports/ad-meter/super-bowl/2014/02/02/ad-meter-catego

ry-2nd-quarter-commercials/4647519/

3rd Quarter & 4th Quarter http://www.nj.com/super-bowl/index.ssf/2014/02/super_bowl_commercials_game_ads_2014_watch_sb48.ht

ml

Results http://admeter.usatoday.com/story/sports/ad-meter/super-bowl/final-results/2014/02/03/ad-

meter-story-final-ad-meter-rankings/5173807/

Fundamentals of Marketing

Section 1.04

RELATIONSHIP OF GOALS, TACTICS, & STRATEGIES TO THE MARKETING MIX

Mission Statement – the guiding principle for all business decisions and provides direction for planning. Goals/Objectives – established on a yearly basis and

support the mission statement. Goals must be measurable and have a deadline. Strategies – are then developed to accomplish

goals and it reflects the method to achieve the goal (what to do). Tactics – are then developed to accomplish

the strategies; it is the how things will be done, daily actions.

Marketing The Marketing Concept is the idea that a

business should strive to satisfy customers’ needs and wants while generating a profit for the firm. Customer Satisfaction is very important.

Repeat customers are what make businesses successful

Customer Relationship Management

If businesses don’t make money, they don’t do it!

Fundamentals of Marketing Marketers realize that not every product can appeal to

everyone.

Marketers examine two key factors to define their market: Who is interested in a product? Who can afford their product?

A market is made up of all people who share similar needs and wants and who have the ability to purchase your product. MUST MEET BOTH CRITERIA TO BE INCLUDED

Examples of a Market Luxury Suites at Yankees Stadium

Prices range from $600,000 and $850,000 Rich, Men, Sports Fans

Malt-O-Meal Frosted Flakes $1.41/box at DollarDays International

Lower Income, Kids/Single Parents

Hollister Co. Santa Monica Jacket $140 jacket

Teenage Girls, Colder climate areas, Medium-High Income Families

Target Market & Market Segmentation Market Segmentation is the process of classifying

customers by needs and wants. Goal is to identify the group of people who are most

likely to become customers. This specific group is known as a Target Market

All marketing strategies are directed towards the target market. Provides the focus of your marketing campaign. Marketer’s must develop a clear target market before developing a

marketing strategy.

Consumer v. Customer A product may have more than one target market.Example: Low Sugar Fruity Pebbles

Identify the consumer: ChildrenIdentify the customer: Parents*Most five year olds do not purchase their Fruity Pebbles

Same Product--- Different Approach

To target parents you would use commercials that advertise how healthy they are and air them on a Saturday night.

To target children you would use commercials that focus on how fun the cereal is, the bright colors, the cool characters and air this commercial on Saturday mornings.

Target Market To develop a clear picture of their target market,

businesses create customer profile lists of information about the target market. Age Income Level Ethnic Background Occupation Attitudes Lifestyle Geographic Residence

Understanding these characteristics allows you to make better choices

The Marketing Mix The Marketing Mix includes four basic

marketing strategies called the four P’s:1. Product2. Place3. Price4. Promotion5. *People

These are the tools that marketers use to influence potential customers

The 4 P’s…. Product: What you decide to make and sell. Includes the

features, benefits, packaging, name, and brand.

Place: Deals with how and where a product will be distributed.

Price: Price is what is exchanged for the product. Reflects what a customer is willing and able to pay.

Promotion: Refers to decisions about advertising, personal selling, sales promotion, and publicity.

Pick a product

•Walgreen's

•Wal-Mart

•CVS

•Thermal Water Bottle

•Keeps water at 10 degree

•Drops chewing gum out the bottom

•Brail Censored buttons to guide all users

$9.99

•Commercial of athletes using my product

•Buy One, Get One Free

•Breast Cancer Awareness Month promotion

•Hello Kitty, Bye Bye Worries!

W

G