Marketing Planning and the 4 P's

How do businesses become successful?  They plan for it by following an idea called the marketing concept (see vocabulary sheet below). Businesses were not always so consumer minded.  At one time, most companies were sales oriented but today few firms take that approach.  If a business is marketing oriented it means they focus on customer satisfaction and direct their resources toward offering the goods and services that people want. 

For example, consider products that you use that are popular today. 
  What makes the product successful? 
  Is it trendy? 
  Is it very useful? 
  Is it inexpensive? 
  Expensive? 

You are an entrepreneur and have recently entered into a partnership.  The 4 of you want your venture to be extremely successful. In order to do this you recognise the importance of marketing your product. Without research and a plan you know you will not be successful. You know the product or service your are going to sell, you have done some market research to know if someone will spend money on your venture, you have determined your target market so you know who you will gear your marketing toward and you know how you want to distribute your product/service and if you can compete with other existing business'.

Each group member will have a specific job to fulfill for your product to be marketed successfully. This web quest will guide your group through the process of discovering what it takes to market a product or service.

Test your knowledge:

INDIVIDUALLY- As a way of checking your knowledge on this subject complete the Prior Knowledge Survey, print it and put it into the marketing section of your venture plan binder. 

Each member of the group needs to print this document and put it into the venture plan binder. Ensure your name is on the document and mark it as BEFORE.

At the end of the project take it again to see the progress you have made on this subject. Print this document and staple it to your BEFORE document. Mark this document as AFTER.