1st Nine Weeks

In the first nine weeks of sports marketing class I learned numerous details over marketing and its outlook. Starting with the 4 P's, to the 7 functions of marketing, and ending with STP. Doing fun, but educational projects and activities to learn about these major steps in the marketing world.

The 4 P's are Place, Promotion, Price, Product. Place involves the locations and the different methods used to make the product available for the customer. Promotion stands for the different ways a business encourages the customers to purchase the product made. Hopefully promotion would also help increase customer satisfaction. Price is simply stated, the price of the product made, or the amount the customer has to pay for the product wanted/needed. And finally Product, the item the business offers to satisfy the customers needs. It's the most important P of the 4 P's because without it, what would be the use of the other P's.

The 7 key functions of marketing was next on the list of learning about marketing. The first of the big seven is Product service/management; which is basically improving, designing, developing and maintaining a product. The second one is distribution; this function determines how you get your product or services from point A to point B. Next is selling, which includes direct and personal communication with the customer. Usually on trying to get them to buy your product. The fourth function is marketing-information management; the main thing about this function is RESEARCH. It's the key to making or breaking your product a success. The fifth key is financing, in which your business must budget their marketing activities. This function also aids the customer in paying for your product. Next is pricing; simply just making your product an affordable price that satisfies the customer's needs. And the final function is promotion of your product. Basically through posters, commercials and other ideas to achieve the sale of your product.

The last stuff we learned about marketing was STP. Segment, Target, and Position. The segment part is basically dividing up a group of product into classes or categories. For example music can be divided by country, rock and rap. Target is for the intended group of people the product targets. Such as soccer balls are intended for soccer players and footballs are intended for football players. And position stands for where the product stands on quality and price. The sections in position could be price, quality, and comfort. That was an example of how the sections could be divided up for cars.