The Marketing Mix
Specification:
2.2 Using the Marketing Mix • elements of the marketing mix • selecting an appropriate marketing mix for a small business. • the use of ICT in assisting international marketing |
Candidates need to be familiar with the four
elements of the marketing mix – Product, Price, Promotion and Place. Detailed knowledge of each, however, is not required. Using a given scenario, candidates should be able to recommend appropriate marketing activities for a business with a limited budget. Candidates should consider the products that a small business is likely to offer and how it could alter the products to meet customer needs. Candidates need to have an understanding of the basic relationship between price and demand. eg a price rise would probably affect the profits of a small business in a competitive market. Candidates should understand the promotion methods suitable for a small business, given a limited budget e.g. advertising in local newspapers, the Internet, use of personal recommendation and business cards. When considering place, candidates should recognise the growing importance of e-commerce and how it can extend the reach of businesses to include international markets. |
The Marketing Mix
Lesson Objectives:
- To understand the 4 P's of marketing (D-E)
- To analyse the marketing methods used by a small business (B-C)
- To evaluate the marketing methods used by a small business (A*-A)
- To understand the 4 P's of marketing (D-E)
- To analyse the marketing methods used by a small business (B-C)
- To evaluate the marketing methods used by a small business (A*-A)
Starter activity:
What are the 4Ps of marketing?
Product
This is all the factors relating to your design, specifications and features of your product. Products have different aspects that help them sell. A business may alter its products to increase it appeal for different customers.
What type of products do start up businesses offer and why?
Promotion
This means communicating something about your product. This could be that it exists, a new product or special offer, or why people should by your product. The right form of promotion depends on the product.
What are the different ways of promoting your business/product?
What different ways could a start up business use and why?
Price
When setting its prices, a business will have to think about its costs. A business wants to cover its costs to make a profit, but needs to think about the effect that the price will have on demand. Generally, if you raise your prices sales will fall but you make more profit on each item and vice versa. A small business can't charge too much as it doesn't have a well-established brand.
How do you think a new business should price it's products?
When can they start raising their prices?
Place
This refers to the way in which products are distributed. Is the internet used or a shop? Small businesses don't usually have much money so the internet is a very important tool in getting your product recognised by lots of people. A website can be mate very cheaply and be used to advertise to customers.
Why is where you sell your product so important?
Why is the internet so important to small businesses?
A business's marketing mix will depend on factors such as your product, your competitor's products, your target customers and your business's approach.
Activity: Please design and market your own product. Think about all the above relevant factors.
Plenary: Present your idea to the class.
This is all the factors relating to your design, specifications and features of your product. Products have different aspects that help them sell. A business may alter its products to increase it appeal for different customers.
What type of products do start up businesses offer and why?
Promotion
This means communicating something about your product. This could be that it exists, a new product or special offer, or why people should by your product. The right form of promotion depends on the product.
What are the different ways of promoting your business/product?
What different ways could a start up business use and why?
Price
When setting its prices, a business will have to think about its costs. A business wants to cover its costs to make a profit, but needs to think about the effect that the price will have on demand. Generally, if you raise your prices sales will fall but you make more profit on each item and vice versa. A small business can't charge too much as it doesn't have a well-established brand.
How do you think a new business should price it's products?
When can they start raising their prices?
Place
This refers to the way in which products are distributed. Is the internet used or a shop? Small businesses don't usually have much money so the internet is a very important tool in getting your product recognised by lots of people. A website can be mate very cheaply and be used to advertise to customers.
Why is where you sell your product so important?
Why is the internet so important to small businesses?
A business's marketing mix will depend on factors such as your product, your competitor's products, your target customers and your business's approach.
Activity: Please design and market your own product. Think about all the above relevant factors.
Plenary: Present your idea to the class.
marketing_mix_wordsearch.doc | |
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dragons_den_marketing_mix_activity.doc | |
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marketing_crossword.doc | |
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marketing_case_study.doc | |
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Coca Cola's Marketing
Why was this advertising campaign so successful?
Breakdown their marketing mix and explain the 4P's.
S+C for after the activity: If your product is good enough, does the rest of your marketing mix matter? (9 marks)
Breakdown their marketing mix and explain the 4P's.
S+C for after the activity: If your product is good enough, does the rest of your marketing mix matter? (9 marks)
design_your_product_activity.ppt | |
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Promotion
For each of the following, write down:
- Who you think the advert is aimed at
- What themes the advert is portraying
- If you think it is successful or not
- Why you think they used this particular advert
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As this unit is aimed at new start-up businesses, do you think TV advertising is the most appropriate way to promote your business?
What other methods would you use?
What other methods would you use?
Local Newspaper advert.
What features does this advert have that make it successful?
Website:
Website:
Why is using the internet a good way of promoting your business?
Business Cards:
Business Cards:
What are the advantages and disadvantages of using business cards?
What is word of mouth advertising? Why do you think it is so beneficial?
What is word of mouth advertising? Why do you think it is so beneficial?
Activities: Design a business card or local newspaper advert for your own small start up business. Think about all the necessary information.
Extension: Do you think promotion alone could help a business be successful rather than the other elements of the marketing mix? (9 marks)
Extension: Do you think promotion alone could help a business be successful rather than the other elements of the marketing mix? (9 marks)
You're Hired!
Starter Activity: Why do you think Coke Zero was deemed a failure?
Your task:
The only country in the world in which Coca-Cola is not a market leader is....
Scotland! Lucozade is the market leader there. Your task is to design a product to take on Lucozade. You will have exactly 10 minutes on the computers to do research to determine why this is. After this your computer will be turned off by me. Each group will be allowed 1 sheet of A3 paper and only 1 person from each group will be allowed to deliver your presentation to the class; you will have 2 minutes.
You must link your product to the 4P's of marketing explaining why you believe this to be effective. Everything you do must be on the A3 sheet of paper. At the end of the presentations, I, Lord Crump, will decide who I am hiring. Good bloody luck!
The only country in the world in which Coca-Cola is not a market leader is....
Scotland! Lucozade is the market leader there. Your task is to design a product to take on Lucozade. You will have exactly 10 minutes on the computers to do research to determine why this is. After this your computer will be turned off by me. Each group will be allowed 1 sheet of A3 paper and only 1 person from each group will be allowed to deliver your presentation to the class; you will have 2 minutes.
You must link your product to the 4P's of marketing explaining why you believe this to be effective. Everything you do must be on the A3 sheet of paper. At the end of the presentations, I, Lord Crump, will decide who I am hiring. Good bloody luck!
Revision
unit_1_chapter_2_bingo.doc | |
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unit_1_chapter_2_definitions.doc | |
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unit_1_chapter_2_pairs.doc | |
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