Bell Ringer Nov 3rd, 2008

1) If you were going to start selling Lemonade from your front yard, what would you do to try and get people to buy your lemonade? (3 sentences)

2) If you were going to open a new business selling sports equipment, where would you want your store to be located? Tell at least 5 good locations.

The 4 P’s of

Marketing

Product• Product can be a tangible object or a service

provided to customers. • Market research (the systematic gathering,

recording, analyzing, and presentation of information related to marketing goods and services based on needs assessment) is necessary to determine the customers needs/wants and how best to design and promote the product or service to attract the customer.

• Results of this market research should be the product to make, how to package it, brand name to use, and an appropriate image to portray.

http://images.google.com/imgres?imgurl=http://www.musclecarclub.com/other-cars/imports/images/import-cars-1a.jpg&imgrefurl=http://www.musclecarclub.com/other-cars/imports/import-cars.shtml&h=322&w=586&sz=34&hl=en&start=9&um=1&tbnid=L2LU_eEY-f_geM:&tbnh=74&tbnw=135&prev=/images%3Fq%3DCars%26svnum%3D10%26um%3D1%26hl%3Den%26safe%3Dactive%26rls%3DGGLD,GGLD:2004-06,GGLD:en%26sa%3DN

Services

Car washInsurance

Lawyer??

$ Price $• Price is the process of determining what to

charge for the product or service. • People can charge what ever people are

willing to pay. • It is assumed a profit is to be made. It

includes determining the cost of production (time, labor, ingredients, packaging, advertising, etc), the state of supply and demand, and the amount of profit to be made. The end result is the price of the product or service.

What are some items that people are willing to pay

a lot for?

Promotion• Promotion is the actual “marketing” of the

product or service, the image portrayed.• It includes advertising the product or

making the customer aware of the product or service is involved in promotion.

• This should be something creative and catchy.

• The end result of this strategy is how the customer will be told about the product.

What are some different ways

that people advertise their

products?

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Place• Place can be thought of as the

distribution of the product (or service) in the best way possible.

• It involves determining the best place to display and sell the product or offer the service. How to set up the actual display or where to place it in the space provided (i.e. store, room, auction, swap meet) or the timing of the distribution of the service is part of PLACE.

Where is a good place for a business to be located?

Bell Ringer Nov 5th

Choose one of the 4 P’s of marketing and tell me why it

is important to marketing.

To finish your application, choose 3 jobs that you want to

apply for.

• Doctoral Degree = 3.8 or higher• Masters Degree = 3.5 or higher• Bachelors Degree = 3.0 or higher• Technical/Associates Degree = 2.0

or higher

• High School Degree = 1.7 or higher• No education required = no GPA

required

Toppings•A = 4 toppings•B = 3 toppings•C = 2 toppings•D = 1 topping