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3.01 PowerPoint
- 1. Objective 3.01 Understand principles of marketing
- 6. Importance of marketing research to the creation or improvement of products or services
- 12. Selling prices of products and services
- 15. Classification of channels of distribution
- 18. Classification of the main types of promotion
Notas do Editor
- What happens during the marketing process? Businesses are involved in the process of origin, pricing, promotion, and distribution of products and services. These products and services are made available in order to meet the goals of individuals and businesses.
- Product/service management may include several businesses involved with designing, developing, maintaining, improving, and obtaining products and services in order to meet the needs of customers. Distribution (Place) involves using the best ways for customers to locate, obtain, and use the products and services of a business. Selling involves communicating directly with potential customers in order to determine and satisfy their needs and wants. Marketing-information management involves obtaining, managing, and using information about products and services, customers, and competitors to improve business decision-making and the performance of marketing activities. Financing involves budgeting for marketing activities, securing necessary funds for operations, and providing financial assistance to customers. Pricing involves determining and communicating the value of products and services. Promotion involves communicating information such as features and prices about products and services to potential customers.
- What is marketing research? Marketing research involves customers in order to find solutions to problems through carefully designed studies.
- Basic product is simplest form of a product or service. Product features include additions and improvements to the product or service. Options include choices of the product or service. Brand name is a company’s unique identification for a product or service. Packaging is the protection and security of a product or service before it is used. Warranty is an offer to repair, replace, or provide a refund a product or service in order to build the confidence of consumers in a business.
- What factors influence the pricing of products and services? Supply and demand Uniqueness Age Season Complexity Convenience
- What is channels of distribution? The channels of distribution is how products and services reach final customers and the businesses involved. How do the needs between producers and consumers differ? They differ by: Quantity-Businesses produce or sell massive quantities of products and services, where as each consumer needs fewer numbers. Assortment-Businesses usually specialize in producing a specific type of products and services, where as consumers usually purchase a variety of products and services. Location-Businesses may distribute products and services to customers in other countries as well in local communities. Timing-There could be a gap in time when businesses produce products and services as to when consumers need them.
- Direct involves the exchange of products and services between producer and consumer only. Indirect involves the exchange of products and services with one or more business and consumer.
- What is the relationship between effective communication and promotion? Businesses use promotion to communicate with potential customers about their products and services. Information about products and services is encoded in a promotional message. Promotional messages may be delivered through advertisements and sales representatives. Potential customers decode the message and provide feedback by way of purchasing or inquiring about products or services.