Miscellaneous / Profit And The 4 P'S Of Marketing

Profit And The 4 P'S Of Marketing

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Autor:  anton  16 December 2010
Tags:  Profit,  Marketing
Words: 659   |   Pages: 3
Views: 346

Type of Lesson: Inquiry Lesson

Due Date of Initial Review: April 3, 2006

Due Date of Final Review:

Date of Presentation: April 12, 2006

Curriculum Framework Information:

http://dwe.arkansas.gov/CurriculumFrameworks/Business/advertising.pdf

Name of Course: Profit and 4 P's of Marketing

Unit: 1 and 2

Knowledge Item: 1.15 and 2.3

Page: Unit 1 В– Pg. 206. Unit 2 В– Pg. 208

Title of Lesson: Profit and the four P's of marketing.

Objectives for Lesson:

 Define profit.

 Define the four P's of marketing.

 Use information to answer questions about the 4 P's of marketing.

Content Information:

Defining profit:

Profit is the surplus of revenue generated over expenses incurred for a particular accounting period. In simpler terms, it is when a company's revenues and gains are greater than its expenses and losses. Profit is the excess of income over expenses. Another way of saying it is the positive gain from an investment or business operation after subtracting for all expenses made by a company.

Defining the Four P's of Marketing:

The Four P's of Marketing are the four strategies to the marketing mix. The marketing mix refers to the way in which a company allocates its marketing budget between the various communications media. It includes product, price, promotion, and place. They are the variables that marketing managers can control in order to best satisfy their customers in the target market. They are all interconnected. Action in one affects the decisions in another.

В• Product В– any tangible object, idea, or service provided to customers.

В• Price В– determining what to charge for the product or service.

В• Promotion В– the actual marketing of the product or service. The task of making customers aware of the product in a positive way so that they will want to buy it.

В• Place В– getting the right product to the right place at the right time in the right amount and in the right condition.

Introduction into Lesson:

Let's say all of you have a company. You are a partnership with one other person in the classroom. You develop a product and now it is your job to market it in the best and most efficient way possible.

 Assign groups.

o Group 1 will be promoting an athletic shoe for playing basketball in.

o Group 2 will be promoting a new skin lotion that smells wonderful with perfume extracts and fully nourishes the body's outer layer of skin.

o Group 3 will be promoting a new lawn mower. It is a riding lawn mower. It has 7-speeds and it has a new grass-cutting system that promises for healthier, thicker grass because of the way the blades rotate.

OK, now your job is to develop a marketing strategy to target the appropriate customers through the Four P's of Marketing.

Learning Activities:

Assign Groups

 Group 1 В– athletic shoe for basketball

 Group 2 В– skin lotion

 Group 3 В– lawn mower

Give Instructions

SAY:

 The objective for this exercise is to analyze your costs, your revenue, target the correct customer, and ultimately providing them with the best product in the target market you have been assigned.

The Product has been assigned. With the given information on the competitors in the market and the costs that it will take for you to produce the product, you must find a price that is pleasing to the customer and satisfying to your company. Then, you must figure out the best way to promote your product. Who are you going to target? How are you going to reach them? How are you going to promote your product in a positive way? Lastly, you are going to answer the questions related to place. This is where you find out how you are going to get the right product to the right place at the right time in the right amount, while minimizing costs. Attached, there is all the information you will need in order to make your decisions.

Materials:

o Smartboard

o Powerpoint

o Handouts

o References

References:

1. Arkansas Department of Education Curriculum Frameworks

2. http://www.quickmba.com/marketing/mix/

3. http://www.positive-way.com/business/product.htm



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