Profit and the 4 P's of Marketing

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Type of Lesson: Inquiry Lesson

Due Date of Initial Review: April 3, 2006

Due Date of Final Review:

Date of Presentation: April 12, 2006

Curriculum Framework Information:

Name of Course: Profit and 4 P's of Marketing
Unit: 1 and 2
Knowledge Item: 1.15 and 2.3
Page: Unit 1 – Pg. 206. Unit 2 – Pg. 208

Title of Lesson: Profit and the four P's of marketing.

Objectives for Lesson:

Define profit.
Define the four P's of marketing.
Use information to answer questions about the 4 P's of marketing.

Content Information:

Defining profit:

Profit is the surplus of revenue generated over expenses incurred for a particular accounting period. In simpler terms, it is when a company's revenues and gains are greater than its expenses and losses. Profit is the excess of income over expenses. Another way of saying it is the positive gain from an investment or business operation after subtracting for all expenses made by a company.

Defining the Four P's of Marketing:

The Four P's of Marketing are the four strategies to the marketing mix. The marketing mix refers to the way in which a company allocates its marketing budget between the various communications media. It includes product, price, promotion, and place. They are the variables that marketing managers can control in order to best satisfy their customers in the target market. They are all interconnected. Action in one affects the decisions in another.

•Product – any tangible object, idea, or service provided to customers.

•Price – determining what to charge for the product or service.

•Promotion – the actual marketing of the product or service. The task of making customers aware of the product in a positive way so that they will want to buy it.

•Place – getting the right product to the right place at the right time in the right amount and in the right...
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