Do Now Sign in to Curipod on your phone or Chromebook No WiFi? Use a mini whiteboard instead Answer the following: In a few words, what do we call the four Ps of marketing?
Understand the 4 'Ps' of Marketing: Product, Price, Place, and Promotion. Learn to use the 4 'Ps' to create effective marketing strategies. Analyse a variety of real-world marketing examples.
Marketing Mix Revision Lesson
The marketing mix (4Ps of marketing) provides a framework for businesses to create and implement successful marketing strategies The 4Ps represent the key elements of a marketing strategy: product, price, place, and promotion These four components work together in combination to satisfy the needs and want of a target market while achieving the company's objectives
Marketing Mix Key Facts:
By understanding and manipulating the marketing mix, businesses can differentiate themselves from competitors The marketing mix is an essential tool for any company looking to maximise its marketing impact and achieve long-term success
Marketing Mix - Why is it used?
What are the four elements of the marketing mix?
What strategies would you recommend to create a successful marketing mix?
Identify a product or service in the hair and beauty industry and explain how the four elements of the marketing mix are used to promote it.
What is the most important element of the marketing mix and why?
Brain break: Draw a diagram of the marketing mix. Rules - The only two words you can use are 'marketing mix', but you can use as many sketches/pictures/symbols as you like
Question: You are the marketing manager of TRESemmé hair products. Your boss has asked you to come up with a plan to revise the company's marketing mix. What solution would you suggest? Clues: • Think about how to best reach the company's target audience. • Research what methods other successful companies use in their marketing mix. • Brainstorm ideas with your team for how to make the most impactful changes. In pairs: Select and solve one of the tasks: A. Work in pairs and explain your solution through a drawing. B. Share your solution verbally with the rest of the class.
What is the definition of marketing mix?
- The strategy used by companies to increase their profits
- A set of controllable marketing variables that a company combines to create a desired response in the targeted market.
- The process of selling products or services to potential customers
What are the four elements of the marketing mix?
- Product, price, place, promotion
- Product, profit, people, promotion
- Place, performance, price, product
Which element of the marketing mix refers to how a company distributes its products or services?
What is meant by 'product' in the context of marketing mix?
- It only refers to tangible goods.
- It refers to tangible goods as well as services and intangible offerings.
- It only refers to intangible offerings.
'Price' in the context of Marketing Mix includes which components?
- List Price Only
- List Price and Discounts
- Discounts Only
Work together in pairs: What is one way that you could use the 4 P's of the Marketing Mix to create a successful marketing campaign?