The Marketing Mix

Standard 20:  Describe the components of the marketing mix (i.e., price, promotion, product, and place).



You will need your textbook and a sheet of paper for taking notes.

Opening Assignment:

1. On your paper list the seven core functions of marketing.
2. Name 3 companies that do a good job marketing to you so that you buy their products.
3. What specific products did you buy from them?
4. What about their marketing won you over?

Objectives:

• Describe how marketers use knowledge of the market to sell products
• Compare and contrast consumer vs. organizational markets
• Explain the importance of target markets
• Explain how each component of the marketing mix contributes to successful marketing

Take notes as we go through the following PowerPoint lesson.
Lesson 1.3 PowerPoint

 

 

Real-World Application worksheet 

Take a few minutes to read the scenario.  From the reading answer the questions on your own paper.  

 

Marketing Mix Research

1. Go to Marketingteacher.com  
2. Click on "marketing mix" from the menu on left
3. There are several well-known businesses listed under it
4. Select one and be prepared to give an oral report about that company's marketing mix.

Review Key Concepts

1. Answer questions 1-3 on your paper as an exit ticket.  
2. When you are finished put your paper in the tray.
3. Put your textbook back on the shelf in numerical order. 

DECA Idea Challenge Report Alternative

Use the attached document to prepare a 2 page research paper on the topic of "Repurposing Plastic Bottles."

This report should be typed and submitted to me by 3:00 pm Wednesday, November 18.

The attached checklist is using MLA formatting which you will use in future classes and college.

You may use my thesis statement and supporting paragraph topics.  It must be about "Recycling or Repurposing Plastic Bottles."

Sample Research paper

Instructions/Checklist




Section 1 - Introduction paragraph with thesis statement as LAST sentence in the introductory paragraph. (start with a hook introducing the topic of the need to recycle or repurpose cardboard.)
Section 2 - Transition into supporting paragraph1 (possibly talking about one idea for repurposing)
Section 3 - Transition into second supporting topic (possibly paragraphs about another use for cardboard)
Section 4 - Transition into third supporting topic (possibly paragraphs about a third use for cardboard)
Section 5 - conclusion - sum up your information in a closing paragraph
 

1. Reread each paragraph to make sure that each sentence makes sense and adds valuable information that is not repeated.  
2. Check grammar and spelling
3. Check punctuation 
4. Now cut all of your sources and put them in order on a last page titled "Works Cited" (see the sample research paper link to see what your final product should look like... including heading, title and page numbers)
5. When you have checked your work, share and send to me in an email to julie6davis@gmail.com

Economic Benefit of Marketing

Standard 1: Define marketing and describe the marketing benefits derived from each economic utility (form, time, place, possession, and information).  Discuss how each benefit adds value to products and services

Opening Assignment

Focus on the meaning of the following terms and definitions that are important to marketing and business as you copy them on a sheet of paper.  Be prepared for a quiz at the end of the lesson.  These should be part of your "Terms" section of your binder.

1. marketing - the process of planning, pricing, promoting, selling and distributing ideas, goods, or services to create exchanges that satisfy customers
2. marketing concept - the idea that a business should strive to satisfy customers' needs and wants while generating a profit for the business
3. customer relationship management (CRM) - is an aspect of marketing that combines customer information with customer service and marketing communications to allow companies to serve their customers as efficiently as possible
4. form utility - involves changing raw materials into usable goods or putting parts together to make them more useful
5. place utility - having a product where customers can buy it
6. time utility - having a product or service available at a certain time of year or convenient time of day
7. possession utility - the exchange of a product for money
8. information utility - communication with the customer

When finished read over pages 12-15 in your text book.

Core Functions Quiz

Get out another sheet of paper and put the correct heading at the top.
Number from 1-7.

What is This?

Click on the game to see if you can guess the following objects.

Today we are going to be looking at how the seven functions of marketing add value to a product.  This added value in economic terms is called UTILITY.  Utilities are the attributes of goods or services that make them capable of satisfying consumers' wants and needs. 

Why do I need to know this?

Read over these questions.  We will revisit them after the lesson to see if we have answered them.

1. What is the benefit of marketing?
2. Who does it benefit?
3. How does marketing benefit the customer?
4. How does marketing benefit the business owner?
5. How does this affect me?

Now click on the power point below and let's get started.

 

Lesson 1.2  The Importance of Marketing PowerPoint

Complete the graphic organizer as you work through the presentation.

Sticks and Stones

Watch the following article about a small hobby that turned into big business and how marketing made it happen.

Sticks and Stones News Video

Back to our beginning questions:  Why do I need to know this?

Let's see if we can answer these questions now:

1. What is the benefit of marketing?
2. Who does it benefit?
3. How does marketing benefit the customer?
4. How does marketing benefit the business owner?
5. How does this affect me?

Now, click on this link to answer questions about Sticks and Stones path to success.
Follow the directions on the worksheet to email your answers to me.
To review the video transcript click this link.

 

Lesson Review Quiz

Go to kahoot.it .
Let's play together.  Winner gets bonus points on today's assignment!