MARKETIN

G

ESSENTI

ALS/I

Unit 1

What is Marketing?

The 5 P’s

MARKETING:The connecting link, or bridge,

between the producer and the consumer.

Producer Consumer

The process of planning the product, executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumer wants and needs.

Planning PricingPlace

(Distribution)

Promotion People

MARKETING IS:

THE 5 P’S:MARKETING is a

PROCESS and involves the 5 P’s:

PLANNING the Product

PRICING PLACE

(Distribution) PROMOTION PEOPLE (The

Target Market)

Planning Pricing Place Promotion People

WHAT IS MARKETING?Definition: The process of developing, promoting, and distributing products in order to satisfy customer’s needs and wants.

MARKETING IS ALL AROUND US~S A L E S R E P R E S E N T A T I V ES

T E L E M A R K E T E R S

J U N K M A I L

V I D E O S , B R O C H U R E S

P R O D U C T P L A C E M E N T

N E T W O R K I N G

S I G N S

D I S P L A Y S

I N T E R N E T B A N N E R S

>Decisions a business must make.

>Depends on Target Market being clearly defined.___________________________

1)Product Planning- 1)Make a decision about the product.

2)Produce the Product.

2)Pricing- 1) To Sell (value)

2) To Make a Profit.

3) To be Competitive

3)Place (Distribution)- 1) Packaging

2) Storage

3) Shipping

4) Receiving (Inventory)(Con’t)

THE 5 P’S =THE MARKETING MIX

5 P’S/THE MARKETING MIX (CON’T)

4)Promotion- 1) Advertising

2) Publicity

3) Public Relations

4) Displays

5)People- 1) Consumers

2) Customers

_______________________________________________

What is the difference between a Consumer and a Customer?

WHAT IS MARKETED?

Durable Goods>Desks>Computers>4G phones

Places“Get Out There” (RCCL)

“Ski Washington.com”

“Go Hawaiian”

Organizations>WEA>NCAA>NFL

>The Red Cross

Ideas>”Litter and It Will Hurt”> “Buzzed Driving Is Drunk Driving

Nondurable Goods>Yogurt>Gasoline>Cosmetics

Services>Airline Travel>Banking>Wedding Planners

People>Athletes>Musicians>Ourselves

Goods:

The kinds of things that you can touch or hold in your hand;

TANGIBLES

Services:

The kinds of things that you can’t physically touch;

INTANGIBLES

PRODUCTS~INCLUDES IDEAS, GOODS, AND SERVICES, WHICH HAVE MONETARY VALUE AND SATISFY CUSTOMERS’ NEEDS AND WANTS.

EXCHANGES=VOLUNTARY PURCHASES(EXCHANGES TAKE PLACE EVERY DAY!)

Planning the Product

1) Make a decision about the product

2) Produce It

Pricing

1)To Make a Profit

2)To Be Competitive

3) To Sell (Value)

BREAKING DOWN THE 5 P’S (MARKETING MIX)

2)Storing(warehousing)

1)Shipping(transporting)

DISTRIBUTION(PLACE):

3)Packaging

4)Receiving

DISTRIBUTION (CON’T)

Promotion

1) Advertising

2) Publicity

3) Public Relations

4) Displays

People= The Target Market

1)Customers

2)Consumers

THE REST OF THE 5 P’S…

THE E

ND