The Marketing Mix: Using the 4 P's of Marketing

You will work in your assigned groups. Each students must participate in the tasks to help the group make the proper decisions. A primary resource for this project will be your in the google classroom:to Marketing.

Your group has decided to start a business based on one primary product. Your group needs to begin by coming to an agreement on what the product should be.

As a group, decide what to name your business. Research ideas and be creative. Read more about creative business names at http://www.yudkin.com/generate.htm . There are also tons of other cool (free) websites that can help you come up with a business name. Just use Google!

Next, you will need to determine what your primary product is. Will you market your product to the consumer or the customer? For example, an adult who buys a box of cereal is most likely both the customer and the consumer. However, if the adult is a parent buying cereal for their kids to eat, then the kids are the consumer.

You may need to decide what secondary products may be needed for your business to be successful.

You may want to examine and use the graphic organizer listed under Resources at the bottom of the page to help you formulate your 4P's.

Your group will further develop the product and its features. Why would someone want to buy it? How will it be packaged?

Your group will study the costs involved in developing your product to determine value and the price. This website has valuable insight into the concepts associated with pricing a product or service: http://www.marketingteacher.com/lesson-store/lesson-pricing.html .

As a group, you will determine where your business should be located to best serve your customers. Who is your target market? How will you place your product to reach them? Again, consider the graphic organizer listed under Resources at the bottom of the page, to better understand target marketing.

Your group will develop a promotion plan for your product. How will you advertise? What type of community awareness will conduct? 

As a group, you will create a PowerPoint presentation to present your business and product to the class. The presentation needs to have a minimum of 6 slides, including a title slide to thoroughly explain your business and your marketing mix. Include a graphic depicting your decision on every slide. Your presentation should have at least one slide clarifying each part of your marketing mix: product, place, price, and promotion. A checklist for your PowerPoint is available in the Resources section below.