Marketing Mix, Product and Price for SS 3

Class: SS 3
Term: First Term
Week: 6
Age: 16 years
Duration: 45 minutes
Subject: Marketing
Curriculum Theme: Marketing Management
Previous Lesson: Fund Management in Merchandising
Topic: Marketing Mix (4Ps)
Subject Matter: Explanation of marketing mix (4Ps); Product and Price

Specific Objectives

By the end of the lesson, pupils/students should be able to:

Cognitive Domain

• Define marketing mix.
• Identify the four components of the marketing mix.
• Explain the concept of ‘Product’ as a marketing mix element.
• Identify various elements of a product.
• Explain the concept of ‘Price’ as a marketing mix element.
• State factors that influence pricing decisions.

Affective Domain

• Appreciate the importance of the marketing mix in business strategy.
• Participate actively in discussions about product and price.

Psychomotor Domain

• Categorise different products based on their features.
• Suggest appropriate pricing strategies for given product scenarios.

Reference Materials

The following resources were used in planning this lesson:

• 2025 Revised 9 Years Basic Education Curriculum
• Relevant State Unified Scheme of Work
• Marketing for Senior Secondary Schools, Book 3
• The HeadTeacher Scheme of work

Instructional Materials

The teacher will teach this lesson with the aid of:

• Products of different kinds (e.g., a pen, a bottle of water, a mobile phone)
• Charts illustrating the 4Ps of marketing
• Whiteboard and markers

Rationale for the Lesson

This lesson is essential for students to understand how businesses strategically combine different elements to satisfy customer needs and achieve their marketing objectives. A clear grasp of product and price helps students comprehend consumer behaviour and business decision-making, preparing them for future roles in commerce and entrepreneurship.

Prerequisite/Previous Knowledge

Students should have a basic understanding of what marketing is and the concept of customer needs and wants.

Lesson Content/Board Summary

Marketing Mix (4Ps)

Meaning of Marketing Mix

The marketing mix refers to the set of controllable tactical marketing tools that a company blends to produce the response it wants in the target market. These tools are often classified into four broad categories, known as the “4Ps”: Product, Price, Place, and Promotion.

The Four Ps of Marketing Mix

1. Product: This refers to the goods or services offered to the target market to satisfy a need or want.
2. Price: This is the amount of money customers must pay to obtain the product.
3. Place (Distribution): This involves company activities that make the product available to target consumers.
4. Promotion: This refers to activities that communicate the merits of the product and persuade target customers to buy it.

Product

The product element of the marketing mix encompasses anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. It includes physical goods, services, experiences, events, persons, places, organisations, information, and ideas.

Key elements of a product include:

1. Core Product: The fundamental benefit or service that the customer is really buying (e.g., communication for a mobile phone).
2. Actual Product: The physical attributes of the product, such as quality level, features, design, brand name, and packaging.
3. Augmented Product: Additional consumer services and benefits built around the core and actual products, such as warranty, installation, after-sales service, and delivery.
4. Product Variety: The range of different products a company offers.
5. Quality: The standard of the product.
6. Design: The aesthetic and functional appearance of the product.
7. Features: Specific characteristics that differentiate the product.
8. Brand Name: A name, term, sign, symbol, or design intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
9. Packaging: The activities of designing and producing the container or wrapper for a product.
10. Services: Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

Price

Price is the amount of money charged for a product or service, or the sum of the values that consumers exchange for the benefits of having or using the product or service. It is the only element in the marketing mix that produces revenue; all other elements represent costs.

Factors influencing pricing decisions:

1. Cost of Production: The expenses incurred in producing the product, including raw materials, labour, and overheads.
2. Competition: The prices charged by competitors for similar products.
3. Consumer Demand: The willingness and ability of consumers to buy the product at various prices.
4. Marketing Objectives: The company’s goals, such as profit maximisation, market share leadership, or survival.
5. Government Regulations: Laws and policies that may affect pricing (e.g., price controls).
6. Economic Conditions: Factors like inflation, recession, and interest rates.
7. Product Life Cycle Stage: Pricing strategies often change as a product moves through its introduction, growth, maturity, and decline stages.
8. Perceived Value: The value customers believe they receive from the product.

Teaching Methods/Instructional Techniques

Discussion, Explanation, Question and Answer, Demonstration, Guided Practice

Instructional Procedures

Step 1: Introduction

Time: 5 minutes

Teaching Skill: Engaging/Recalling

Teacher’s Activity: The teacher greets the students and asks them to name some products they use daily and how they came to know about them. The teacher then introduces the topic: Marketing Mix (4Ps), focusing on Product and Price.

Pupils’ Activity: Students respond by naming products and discussing how they discovered them.

Learning Point: Introduction to marketing mix

Step 2: Explanation of Marketing Mix

Time: 7 minutes

Teaching Skill: Explanation/Illustration

Teacher’s Activity: The teacher explains the meaning of the marketing mix and introduces the 4Ps (Product, Price, Place, Promotion) using a chart. The teacher emphasises that these are tools businesses use to achieve their marketing goals.

Pupils’ Activity: Students listen attentively, observe the chart, and ask clarifying questions.

Learning Point: Meaning of marketing mix

Step 3: Introduction to Product

Time: 6 minutes

Teaching Skill: Definition/Demonstration

Teacher’s Activity: The teacher defines ‘Product’ as a core element of the marketing mix, using various physical products (e.g., a pen, a bottle of water) as examples to illustrate the concept. The teacher explains that a product can be a good or a service.

Pupils’ Activity: Students observe the products, listen to the explanation, and identify the products as goods or services.

Learning Point: Product as marketing element

Step 4: Elements of a Product

Time: 7 minutes

Teaching Skill: Elaboration/Discussion

Teacher’s Activity: The teacher explains the key elements of a product, such as core product, actual product, augmented product, quality, design, brand name, and packaging, using the earlier product examples to make the concepts concrete.

Pupils’ Activity: Students discuss the elements of the example products and relate them to their own experiences.

Learning Point: Product elements and features

Step 5: Introduction to Price

Time: 6 minutes

Teaching Skill: Definition/Comparison

Teacher’s Activity: The teacher defines ‘Price’ as the amount customers pay for a product. The teacher highlights that price is the only element that generates revenue and asks students to compare prices of similar products they know.

Pupils’ Activity: Students define price and discuss why prices for similar products might differ.

Learning Point: Price as marketing element

Step 6: Factors Influencing Price

Time: 5 minutes

Teaching Skill: Listing/Questioning

Teacher’s Activity: The teacher discusses various factors influencing pricing decisions, such as cost of production, competition, consumer demand, and government regulations. The teacher asks students to suggest other factors.

Pupils’ Activity: Students identify and discuss factors that influence product pricing.

Learning Point: Factors affecting price

Step 7: Evaluation/Review

Time: 5 minutes

Teaching Skill: Questioning/Assessment

Teacher’s Activity: The teacher evaluates the learning by asking the following questions:

1. What is the marketing mix?
2. Name the four Ps of the marketing mix.
3. Explain ‘Product’ as an element of the marketing mix.
4. List three elements of a product.
5. What is ‘Price’ in the context of marketing?
6. Mention two factors that influence pricing decisions.

Pupils’ Activity: Pupils answer orally and in writing.

Learning Point: Understanding marketing mix concepts

Step 8: Note-Taking

Time: 4 minutes

Teaching Skill: Guided Writing

Teacher’s Activity: The teacher guides pupils/students to copy the essential Board Summary notes on Marketing Mix, Product, and Price into their notebooks.

Pupils’ Activity: Pupils/students copy the notes carefully into their notebooks.

Learning Point: Recording lesson notes

Step 9: Conclusion

Time: 1 minute

Teaching Skill: Summarising

Teacher’s Activity: The teacher briefly summarises the main points of the lesson, reiterating the importance of Product and Price in the overall marketing mix for business success.

Pupils’ Activity: Students listen and reflect on the lesson.

Learning Point: Marketing mix importance

Continuous Assessment/Further Study

Type: Homework

Instruction: Answer the following questions in your notebook:

1. Differentiate between the core product and the augmented product, giving an example for each.
2. Imagine you are launching a new brand of fruit juice. List three factors you would consider when setting its price and explain why each factor is important.
3. Research and identify a product that has undergone significant changes in its features or packaging over time. Describe these changes and suggest reasons for them.

Lesson Keywords

• Marketing Mix – A set of controllable tactical marketing tools that a company blends to produce the response it wants in the target market.
• 4Ps – The four main elements of the marketing mix: Product, Price, Place, and Promotion.
• Product – Anything that can be offered to a market to satisfy a want or need, including goods and services.
• Price – The amount of money customers must pay to obtain a product or service.
• Core Product – The fundamental benefit or service that the customer is really buying.
• Actual Product – The physical attributes of a product, such as design, quality, and brand name.
• Augmented Product – Additional services and benefits around the core and actual products, like warranty and after-sales service.

Differentiation

For weaker learners, the teacher can provide simplified definitions and focus on identifying basic examples of products and their prices. Faster learners can be challenged to research and present on how ‘Place’ and ‘Promotion’ fit into the marketing mix, or analyse a real-world product’s marketing strategy.

Suggested Lesson Videos

For further understanding, students can search on YouTube for: “Marketing Mix 4Ps explained” or “Product and Price in marketing”

Teacher Guide for Using This Lesson Plan

Before the lesson, ensure you have a variety of common products available to use as visual aids, such as a pen, a mobile phone, or a bottle of water, and a chart illustrating the 4Ps. Begin by engaging students with familiar examples to connect the topic to their daily lives. Clearly explain each component of the marketing mix, focusing on Product and Price as per the subject matter. Encourage active participation through questions and discussions, allowing students to share their insights. When discussing product elements and pricing factors, use the prepared examples to make the concepts tangible. Guide students through the note-taking process, ensuring they capture the key definitions and lists from the board summary. Pay attention to students who might struggle with abstract concepts by providing more concrete examples and simplified explanations. For faster learners, encourage deeper thinking by asking them to consider how product features influence price or how different products are marketed.