4Ps of Marketing

Whāinga ako: Lesson Goals

We are learning to identify and explain the 4 Ps of marketing (Product, Price, Place, Promotion) and how they work together to influence business success.

Kupu matua - Keywords

4 Ps definition

Worksheet to complete.

Note for teachers: Check the tabs on the left hand side of the doc to find a version for students who are working towards the level expected.

Mahi - work

Marketing Mix: Product

Product - an article or substance that is manufactured or refined for sale.

Have a look at this graph. We are going to spend a bit of time understanding it as it will feature in your assessment.

Can you guess what is happening in this graph?

Consider:

The title
The axis titles
Any other clues...?

Graphing Skills

Marketing Mix: Promotion

This is the part that people immediately think of when they hear 'marketing'.

It covers:

Advertising - Traditional best known method of promotion. It is making something that delivers a message about the product or service to aim at at a certain audience. E.g. Billboard, tv ad etc.
Sales promotions - At the point of sale (shop) to encourage people to buy there and then. E.g. price reduction.
Publicity - Generating attention to your product. E.g. Online reviews, mentioned in a magazine.

Modern strategies

Social Media - Using the internet to create social network to share product = free/cheap and quick
Guerrilla Marketing - Shock tactics to promote a product e.g. flash mob = a lot of planning and organising
Stealth Marketing/Product Placement - Putting a product somewhere where people may only subconsciously notice it. E.g. in a movie/show/music video = has a 'cool' factor but provides no info about the product.

Example: Guerrilla Marketing

McDonalds coffee

Coops Paints

Example: Stealth Marketing

Marketing Mix: Price

When a product has been made, the next step is to decide on a price.

The price can influence how people look at the product. For example: If something is cheap it may be viewed as lower quality than something that is more expensive- even if they were made at the same place.

On the opposite end, if someone over charges for their product then people will become angry, especially if the product develops faults.

Marketing Mix: Place

Place refers to where the product will be sold. Why is this important? Even if a product has been developed well and promotion has been good- if it is not sold in the right place, it will be a flop. The right customers need to be able to access it. e.g. a person selling crafts would not be able to sell their stuff in a mall as leasing a shop would be too expensive. They would instead sell their stuff at a market or online.

Business Location

Businesses need to think about where they are located. Things to think about need to include:

Competition- A small burger business probably wouldn't work beside a successful big burger place like McDonald's
Pedestrian/traffic flow- best to capture people walking past
Cost- A small business would not be able to lease a shop in the mall but they may be able to afford a small shop off a main street