Introduction to Marketing

Stephanie Straup

Fall 2002

WORKSHEET OBJECTIVE:

Using the links provided in the following questions, the students will define the 4 P’s of Marketing and answer questions relating to the topic. The students are creating a study guide for themselves, which will be graded according to the teacher’s rubric.

DIRECTIONS

Listed below are questions to aid in your learning about marketing and

the 4 P’s. You are going to open a new WORD document. Each of the questions below have a highlighted word, read the question and click on the highlighted word. You will then be redirected to a website containing the correct answer. Completion of this exercise is worth 20 points and will be graded according to the teacher’s rubric. Please number your answer sheet, and answer in complete sentences—unless otherwise stated. Don’t forget your name, date, and to save as 4p’s. Print a hard copy, so you have a study guide.

GOOD LUCK!!

1. What is the AMA?

2. According to the AMA, what is their definition of MARKETING?

3. What are the 4 P’s of Marketing?

4. Define the 4 P’s of Marketing?

5. What are the 4 P’s also known as?

6. List 3 decisions that need to be made concerning each of the 4 P’s?

7. In order to successfully use the 4 P’s, what are three important questions marketers must ask themselves about customers by using the MARKETING CONCEPT?

8. A product manager is a job that involves the product area of the 4 P’s. If you were a product manager, what would some of your responsibilities be?

The 4 P’s of Marketing

Answer Key

1. What is the AMA?

The American Marketing Association (AMA) has over 40,000 members worldwide, in 82 countries, with nearly 400 chapters throughout North America and Canada.

The AMA is the only organization that provides direct benefits to marketing professionals in both business and education, and serves all levels of marketing practitioners, educators, and students.

2. According to the AMA, what is their definition of Marketing?

Definition of Marketing: Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

3. What are the 4 P’s of Marketing?

Marketing decisions generally fall into the following four controllable categories:

Product, price, Place (distribution), and Promotion

4. Define the 4 P's of Marketing.

Product is/are the products or services you offer and are they unique, superior, easier to use.

Price is how much to sell your products for, based on your cost and value to potential

customers.

Promotion is communicating to potential customers to create an awareness of your

business.

Place - your business location and methods of distributing your products.

5. What are the 4 P’s also known as?

The 4 P’s are also known as the Marketing Mix.

6. List 3 decisions that need to be made concerning each of the 4

P’s?

Any three from the columns below are acceptable.

Product Decisions	Price Decisions	Distribution (Place) Decisions	Promotion Decisions
Brand name Functionality Styling Quality Safety Packaging Repairs and Support Warranty Accessories and services	Pricing strategy (skim, penetration, etc.) Suggested retail price Volume discounts and wholesale pricing Cash and early payment discounts Seasonal pricing Bundling Price flexibility Price discrimination	Distribution channels Market coverage (inclusive, selective, or exclusive distribution) Specific channel members Inventory management Warehousing Distribution centers Order processing Transportation Reverse logistics	Promotional strategy (push, pull, etc.) Advertising Personal selling & sales force Sales promotions Public relations & publicity Marketing communications budget

7. In order to successfully use the 4 P’s, what are three important questions marketers must ask themselves about customers by using the Marketing Concept?

What do customers want?

Can we develop it while they still want it?

How can we keep our customers satisfied?

8. A product manager is a job that involves the product area of the 4 P’s. If you were a product manager what would some of your responsibilities be?

Product managers are responsible for the marketing and development of products such as sports cars, insurance policies, and sporting goods. Product managers are both strategic and tactical.

Strategic because they responsible for positioning a product, assessing the competition and thinking about the future.

Tactical because they are in the field developing appropriate promotional campaigns, talking to reps about what customers want and think and doing the day-to-day sales tracking that's required for any major product category.

The 4 P’s of Marketing

Grading Rubric

Student Name:__________________

Class:_________________________

Date:__________________________

CATEGORY	5	4	3	2-0
Format	Complies with all the requirements listed in the directions.	Complies with almost all the requirements listed in the directions.	Complies with several of the requirements listed in the directions.	Complies with less than 75% of the requirements listed in the directions.
Content Accuracy	The student answer sheet contains all accurate facts about the topic.	The answer sheet contains almost all accurate facts about the topic.	The student answer sheet contains several accurate facts about the topic.	The student answer sheet contains no accurate facts about the topic.
Neatness	Student answer sheet is typed, clean, not wrinkled, and is easy to read with no distracting error corrections. It was done with pride.	The student answer sheet is typed, clean, not wrinkled, and is easy to read with no distracting error corrections. It was done with care.	The student answer key is typed and is crumpled or slightly stained. It may have 1-2 distracting error corrections. It was done with some care.	The student answer key is typed and looks like it had been shoved in a pocket or locker. It may have several distracting error corrections. It looks like it was done in a hurry or stored improperly.
Grammar & spelling (conventions)	Writer makes no errors in grammar or spelling.	Writer makes 1-2 errors in grammar and/or spelling.	Writer makes 3-4 errors in grammar and/or spelling	Writer makes more than 4 errors in grammar and/or spelling.

Total Points: _____/20