Week 1The Marketing Mix & Target Market Principles
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13 Terms
Product (4 Ps)
What you sell in the marketing mix.
Place (4 Ps)
Where you sell your product.
Price (4 Ps)
How much your product costs.
Promotion (4 Ps)
How you advertise your product.
Target Market
The specific group of consumers most likely—and able—to buy your product.
Demographics
Target market details describing WHO buyers are (e.g., age, gender, income).
Geographics
Target market details describing WHERE buyers live (e.g., city, suburbs, country).
Psychographics
Target market details describing how buyers THINK (e.g., interests, values, lifestyle).
Buying Behaviors
Target market details describing HOW buyers shop (e.g., brand loyal, online shopper, budget-conscious).
Customer Profile
ONE fictional person representing the ideal buyer inside a target market.
6 Parts of a Customer Profile
Name\n2. Picture\n3. Demographics\n4. Geographics\n5. Psychographics\n6. Buying Behaviors
4 Ps vs. Target Market vs. Customer Profile
4 Ps: What you sell & how\n- Target Market: The group of buyers\n- Customer Profile: ONE person in that group
the 4ps
product, promotion, place, price