Developing Your Marketing Mix

Developing Your

Marketing Mix

By: Joshua McConnell

Pierra Burroughs

Ivan Howard

Anthony Collins

Mark

eti

ng

Com

munic

ate

s w

ith c

ust

om

ers

1.Four step of a marketing plan.”

2.Learning how to develop a successful

marketing mix3.Learning the principles of a pricing

strategy

Key Objectives

Marketing: is your plan

for bringing your product or

service to the consumer in a

way that illuminates your

competitive advantage, and

explains your value proposition.”

Term

s to

Know

Marketing Segment:

is made up of consumers who

have a similar response to a

certain type of marketing.”

Term

s to

Know

Pric

e:

What

It S

ays

about

Your

Product

The Four P’s are the way you

communicate information

about your business to the

consumers1.Product2.Place3.Price4.Promotion

Key

Obje

ctiv

es

Pric

e:

What

It S

ays

about

Your

Product

Simply selling at a lower price

will not necessarily ensure a

larger market share” You will need to know how the

consumers in your market think

before you can make good

decisions about the four P’s”

You will need to develop a

carefully researched marketing

plan.”

Key

Obje

ctiv

es

Deve

lopin

g

Mark

eti

ng S

kills Helps develop sales

techniques, business

communication, and

business development.”

Builds Customer Relationships.”

Consu

mer

Analy

sis Ex. 1

Before you can develop a

marketing plan, you will

need to analyze your

customers. Who they are?

What do they want?” Ex. 2Developing a competitive

advantage.”

Things to Consider

Consu

mer

Analy

sis

City Kidz Customers/Family and

Children of All Ages.”

City Kidz is a place that is

dedicated to teaching financial

literacy to kids of all ages.

Example 1

Example 2

Mark

eti

ng

Analy

sis

Market Size: Current

and Future.”Market Growth Rate”Market profitability” Industry cost structure”Distribution channels”

Market Trade”Key Success Factors”

Things to Consider

Succ

ess

ful

Mark

et

Segm

ents It is difficult to target

two very different segments of a market

at the same time.”

Succ

ess

ful

Mark

et

Segm

ents

Anita Roddick : created a different line

of cosmetics for women . Her success

proved that selling an

honest product straightforwardly can

be the most effectively

marketing strategy.”

Example