2. Now that you know your customers and their needs, you
need to put together the right Marketing Mix.
Satisfied
Customers
Product
Price
Promotion
Place
(Distribution)
3. Part of the product can improve customer satisfaction
o Unique design
o Construction
o Size
o Color
o Operation
o Accessories can be added to make the product easier to operate,
more efficient, etc.
Services can be provided
o Delivery
o Installation
o Use or maintenance
o Guarantees and warranties
Packaging can help with use, customer information
4. Get the product to the consumer when and where they
want it.
Manufacturers must rely on wholesalers and retailers
Channel of Distribution
o Order processing
o Product handling
o Transportation
o Inventory control
5. Theoretically, price is determined by supply and demand
Know your objective
o Increase sales volume or make most profit possible per item
Calculating price
o Production, marketing, and operating costs make up most of the
price.
o How is price presented to customers?
o What is the feeling of value related to the price?
6. Need to communicate value and benefits to aid
consumers in decision-making.
Advertising
Sales Promotion
Publicity
Personal Selling
7. Type a one page, double spaced, Times New Roman
response to the following statement.
Successful businesses use the Marketing Concept when
planning a new product or service.
Begin with an introduction paragraph, a supporting
paragraph, and a conclusion.
