Today in class we learned about the Marketing Mix. The marketing mix is the unique combination of pricing, promotion, product offerings and distribution system (place) to reach a specific group of consumers (the target market).
Remember that the Target Market (or target audience) are the customers who are most likely to buy the products.
Think about the examples we discussed in class of how different firms have different target markets. For example, a fast food establishment would have a different target than a health store.
Remember the purpose is that companies are trying companies to get the right goods to the right people at the right place at the right time at the right price using the right promotional strategies.
Homework:
I ran out of time to give you this assignment in class today. For tomorrow's class, I'd like you to think of different companies you us and identify who they are targeting (must be at least 3 companies and targets.)
Please let me know if you have any questions! See you tomorrow!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment