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To Market, To Market. Applying the marketing mix to a product. Achievement Standard 1.4. Apply the marketing mix to a new or existing product Internal Assessment - 3 Credits You need to: Apply your understanding of the marketing mix to a new or existing product. - PowerPoint PPT Presentation
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K Wissel 2010
APPLYING THE MARKETING MIX TO A PRODUCT
To Market, To Market
K Wissel 2010
Achievement Standard 1.4
Apply the marketing mix to a new or existing productInternal Assessment - 3 Credits
You need to:Apply your understanding of the marketing mix to a new or existing
product.Present your findings of the following four elements of the marketing
mix. Product Price Place Promotion
K Wissel 2010
Introduction
Gathering
Processing Applying
K Wissel 2010
Gathering: Framework
Four
P’s
Product
Price
Place
Promotion
K Wissel 2010
Processing:
Understanding and learning how information, knowledge and skills from the gathering stage will apply to your internal assessment.
Applying:Apply Marketing Mix business knowledge to internal assessment requirements.
Framework cont.
K Wissel 2010
Slushy Stand Activity
Congratulations on opening your Slushy business!In your groups please follow the instructions below to complete the activity.
Each group should have:1. A town map 2. Calendar of town events3. Your Slushy Sales Plan Chart (each person)
You will use all of the information provided to complete your 4 weekend table. You need to consider the following when planning your slushy stand.
Place – Where is the best location? Product – How much will you invest in product considering the other factors.Price - How much are you going to charge?Promotion - What methods will you use to sell your lemonade?
You need to consider the whole picture and refer to your key!!
K Wissel 2010
Activity continued
Let’s do one together!!
Date Weather Forecast
Place Product Price Promotion
Saturday 1st &
Sunday 2nd
SunnyHigh 16°C
Outside tourist info on Victoria
Road
Ok – off you go!!!
Discussion
Town Map
K Wissel 2010 Disclaimer
K Wissel 2010
North Down Events Calendar – January 2011Monday Tuesday Wednesda
yThursday Friday Saturday Sunday
1 2
3 4 5 6 7 8Busking Festival – On Queens Parade
9Busking Festival – On Queens Parade
10 11 12 13 14 15Medieval War Games – Bangor Castle
16Medieval War Games – Bangor Castle
17 18 19 20 21 22 23Summer Farmers Market – Bangor Market
24 25 26 27 28 29Dunk the Teacher – Family Fun Park& Annual 80+ Bowling Tournament – Leisure Centre
30
31
K Wissel 2010
Slushy Sales Plan – January 2011
Date Weather Forecast
Place Product Price Promotion
SunnyHigh 16°C
High Humidity
OvercastHigh 26°C
SunnyHigh 14°C
Drizzle High 23°C
High Humidity
K Wissel 2010
Key
To complete your chart you need to draw the following to represent each area:
Product Price Promotion
Cool Cheap Self Seller
Cold AveragePhone Sales
Very Cold
Expensive Door to Door
K Wissel 2010
Scarborough Fair Organic Adore Chocolate
Case Study Introduction
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Topic 1. Product
Definition What is a ‘product’ as per Marketing Mix
Good or service that most closely meets the requirements of a particular market and
make enough profit to continue production.
Please copy into your workbooks.
K Wissel 2010
Learning Outcomes Describe the product. What
is it?
Identify and describe three of its target markets.
Fully explain one feature of the product’s physical packaging and it’s function.
Identify and explain the product’s unique selling point.
Copy into workbook
K Wissel 2010
Target Market
The 7 Feature Areas
IncomeAgeGenderHouseholdGeographical AreaReligion/BeliefsLifestyle
Copy into Workbook
CSE (Case Study Example)
Scarborough Fair Chocolate
Income – middle to high due to cost of production
Age – 25 plus – packaging not terribly appealing to younger groups
Beliefs – anti slavery, pro fairtrade
K Wissel 2010
Activity
• You will be given a card with a product on it.
• Around the classroom you will see 7 different cards. On these cards there are different groups.
• You need to read each card and find at least three of the 7 target market features to suit your product.
• If the card does not suit your product go on to the next one.
• Complete questions in workbook.
K Wissel 2010
Product Life Cycle (PLC)It is based upon the biological life cycle. For example, a seed is planted (introduction); it begins to sprout (growth); it shoots out leaves and puts down roots as it becomes an adult (maturity); after a long period as an adult the plant begins to shrink and die out (decline).
K Wissel 2010
Packaging
Identify
Explain Purpose What is it’s aim? Does it achieve it? How? Unique selling point?
What, Why, Who, How & Where?
Inference Diagram Activity
K Wissel 2010
K Wissel 2010
