The 4 P's
What are the 4 P's of marketing?
Product, Price, Place, and Promotion
What is advertising?
Promoting a product or service.
What is marketing?
Promoting and selling products or services
What is a Brand?
The identity of a company or a product
What is target marketing?
A specific group of customers
Which P refers to how much customers pay for a product?
Price
Give an example of digital advertising
social media ad
What is a need?
Something necessary
Name one part of branding
Logo, Name, slogan, colors, etc
Who is the target market for toys for 5 year-olds?
Children
Which P includes advertising, sales, promotions, and other ways a company communicates with customers?
Promotion
What is a good way to advertise for teenagers?
Social media
What is a want?
Something you would like to have
Why is a logo important?
it helps customers recognize the brand
Who is the target market for basketball shoes?
Basketball players
Which P refers to where and how a product is made avaliable to customers?
Place
What is the purpose of advertising?
Inform, persuade, or remind customers
What is market research?
Collecting information about customers and the market
Why do businesses want strong brands?
Customers may recognize and trust them
Why is a target market important?
It helps businesses reach the right customers
Which P refers to the item or service a company sells?
Product
Nobody knows about your product, what should you do?
Promoting/Advertising (ex: social media, business cards, word of mouth)
Why do businesses study competitors?
Hint: Know what other businesses are doing
To understand competition and improve their strategy
What is rebranding?
Changing a company's brand identity
What should a business learn about its target market?
Their needs, wants, and interest