1. Indicator 1.04 – Employ marketing
information to develop a marketing plan
Marketing
Part 1

2. THE MARKETING MIX
 Includes four basic
 Product
strategies called the 4
P’s or elements of  Place
marketing. For each
strategy, decisions  Price
have to be made for
each product the  Promotion
business offers to
best reach their target
market.

3. The 4 P’s
 Product - decisions include
what to make or obtain as the
business’s product mix.
 Level of
quality, features, branding, packa
ging, service, and warranty are
items to decide and develop for
each product.

4. PRODUCT Examples:
 Product: the goods, services, or ideas a business
will offer its customers.
 Marketers conduct research and use their
creativity to figure out what customers need and
how they will meet those needs

5. The 4 P’s
 Place - decisions include where
the customer can obtain the
products. Many businesses
utilize multiple channels of
distribution.
 For example, store
locations, website, and catalogs are the
standard for most retailers today.
Decisions of direct distribution or indirect
distribution (intermediaries/middlemen)

6. PLACE Example:
 The place element can make or break the buying
experience.
 Getting a product in the right place at the right
time is all about creating convenience for the
customer.

7. The 4 P’s
 Price - decisions include
determining what a customer is
willing to pay
 What competition is charging, determining
seasonal discounts and allowances, and
credit terms.
 Determine how to accept payment:
 Cash, debit, credit, check, or combination

8. PRICE Example:
 Price is the amount of money a firm asks in
exchange for its products.
 To be successful, a good balance between
customer value and satisfaction, as well as
company cost and profit must be found.

9. The 4 P’s
 Promotion - decisions include the
promotional mix (advertising, sales
promotion, selling, and publicity)
 These decisions are based on the budget
a business sets for the promotional mix.
 The ultimate goal of promotion is to
generate a positive response from
customers.

10. PROMOTION Example:
 Promotion refers to the various types of
communication that marketers use to
inform, persuade, or remind customers about
their products.
 Advertising
 Personal selling
 Publicity
 Public relations
 Sales promotion

11. IMPORTANCE OF THE 4 P’S
 Product is important  Price is important
to obtain or develop because it establishes
the best product mix your profit and set the
within your market quality level of your
and your target products/services.
market.  Promotion is
 Place is important important because it
because it is the communicates with
avenues you come your customers so
into contact with your they know about your
customers. This is product mix.
the element that has
direct impact on
loyalty and repeat
customers.

12. ACTIVITY
 Choose a product that you use
frequently (toiletry items are good).
 List suggestions for improvements to
the product and the marketing mix.
 Explain how the improvements would
increase satisfaction of the customer
and the business.

13. 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.

14. Goal: What is the marketer’s
destination?
 A goal is an objective you plan to fulfill
 SMART:(Specific, Measureable, Action, Realistic, Ti
mebound)
 Determine where your firm needs to be by a
particular date and agree upon goals
 A family-style restaurant wants to increase sales
 Agree to increase annual sales by 10% over last
years sales
 Goal is specific and can be evaluated for success or
failure at the end of a given time frame.

15. Strategy: Which route will the
marketer take to get there?
 A strategy is a plan of action for achieving your
goals and objectives.
 Create the plan of action (route) believed to be
most efficient.
 Example:
 Strategy #1: add a kids’ menu in order to increase
sales to young parents in the area

16. Tactics: What small steps are needed
to make it happen?
 Tactics are specific actions used to carry out
strategies
 Marketers carefully choose the short-term
actions, or tactics, they use to carry out their
strategy.
 Tactics must line up with where they plan to go –
their goal-and how they plan to get there
 They pay attention to every detail – their strategy

17. MARKETING STRATEGIES
CHANGE……
 What factors cause that change?
 Different Goals
 Economic conditions change
 Political or influence of governmental agencies
changes
 Demand changes reflecting new consumer attitudes
 Environmental changes
 Advancements in technology
 Actions of Competitors

18. ACTIVITY
Think of 5 products that have
“changed” in your lifetime
How did they change?
Why did they change?