Master the Marketing Mix

Master the Marketing Mix

Learning Objective

At the end of the lesson, you will be able to define marketing, understand target markets, and explain the concept of the marketing mix.

What do you already know about marketing and target markets?

Definition of Marketing

Marketing is the process of identifying, anticipating, and satisfying customer needs and wants through the creation and delivery of value.

Target Markets

Target markets are specific groups of individuals or organizations that a company aims to reach and serve with its products or services.

Activity: Identifying Target Markets

In pairs, identify the target market for a new line of fitness apparel targeting young adults.

Marketing Mix

The marketing mix is a set of controllable marketing tools that a company uses to pursue its marketing objectives in the target market.

Activity: Marketing Mix Analysis

Analyze the marketing mix of a popular fast-food chain and identify one element that could be improved.

Product

Product refers to the goods or services a company offers to satisfy customer needs and wants.

Price

Price is the amount of money customers are willing to pay for a product or service.

Place

Place refers to the distribution channels and locations where customers can access a company's products or services.

Promotion

Promotion includes all activities used to communicate and promote the value of a product or service to customers.

Homework Task

Research and analyze the target market and marketing mix of a company of your choice.

Write down 3 things you learned in this lesson.

Have students enter three things they learned in this lesson. With this they can indicate their own learning efficiency of this lesson.

Write down 2 things you want to know more about.

Here, students enter two things they would like to know more about. This not only increases involvement, but also gives them more ownership.

Ask 1 question about something you haven't quite understood yet.

The students indicate here (in question form) with which part of the material they still have difficulty. For the teacher, this not only provides insight into the extent to which the students understand/master the material, but also a good starting point for the next lesson.