Introduction to Marketing

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Introduction to Marketing

  1. 1. WHAT IS MARKETING? by Mrs. Binko
  2. 2. What is Marketing? • the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large -American Marketing Association
  3. 3. Marketing Mix • Factors managed by an organization that influence the demand of a product or service. • Commonly known as the 4 P’s of Marketing: product, price, promotion, and place.
  4. 4. PRODUCT • Tangible or intangible item or service offered to customers to satisfy a need or want. • Example: • Brand Styling and Packaging • Features/Benefits • Warranty
  5. 5. PRICE • Amount a product or service costs to customers. • Often influences customers where to purchase certain products or services. • Example: • Clearance: $1 for everything • Buy 1, Get One 50% off
  6. 6. PROMOTION • Communication between businesses and customers that guide them towards making a purchasing decision. • Example: • Advertising • Publicity • Sales and Discounts
  7. 7. PLACE • How a product or service is delivered to customers or businesses. • Examples: • Inventory • Distribution Centers • Transportation • E-Commerce
  8. 8. Target Market • Who you are trying to sell your product to • Guide marketing efforts towards their interests • Example: • age group and location • lifestyle and hobbies • income
  9. 9. IDENTIFY THE MARKETING MIX & TARGET MARKET

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