SlideShare a Scribd company logo
Objective 3.01 Understand principles of marketing
Topics ,[object Object],[object Object],[object Object],[object Object],[object Object]
Functions of marketing
Functions of Marketing ,[object Object],[object Object],[object Object],[object Object]
Functions of Marketing continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Importance of marketing research to the  creation or improvement of products or services
Marketing Research ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Marketing Research continued ,[object Object],[object Object],[object Object],[object Object],[object Object]
Marketing Research continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Marketing Research continued ,[object Object],[object Object],[object Object]
Marketing Research continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Selling prices of  products and services
Selling Prices of Products and Services ,[object Object],[object Object],[object Object],[object Object],[object Object]
Selling Prices of Products and Services continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Classification of channels of distribution
Classification of Channels of Distribution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Classification of Channels of Distribution continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Classification of the main  types of promotion
Classification of the Main Types of Promotion ,[object Object],[object Object]
What is the relationship between effective communication and promotion? ,[object Object],[object Object],[object Object],[object Object]
Classification of the Main Types of Promotion continued ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

More Related Content

What's hot

4 P's of Marketing
4 P's of Marketing4 P's of Marketing
4 P's of Marketing
vriddhee Goel
 
Neethu(titto sunny)
Neethu(titto sunny)Neethu(titto sunny)
Neethu(titto sunny)
Traum Academy
 
Marketing mix
Marketing mixMarketing mix
Marketing mix
guest908cce
 
The 4 p's of marketing
The 4 p's of marketingThe 4 p's of marketing
The 4 p's of marketing
Zahid Rasul Khyzer
 
Marketing
MarketingMarketing
Marketing
eci
 
Integrated marketing communications
Integrated marketing communicationsIntegrated marketing communications
Integrated marketing communications
Mervyn Maico Aldana
 
Kotcha16
Kotcha16Kotcha16
Kotcha16
taylandemirkaya
 
Marketing management
Marketing managementMarketing management
Marketing management
ARS Talent Academy
 
1a. the 4 p’s of marketing
1a. the 4 p’s of marketing 1a. the 4 p’s of marketing
1a. the 4 p’s of marketing
Keshu Jain
 
Advertising and marketing process
Advertising and marketing processAdvertising and marketing process
Advertising and marketing process
Isma wajid
 
Marketing Mix
Marketing MixMarketing Mix
Marketing Mix
Mahmudul Hasan
 
Channel of distribution
Channel of distributionChannel of distribution
Channel of distribution
RajKutty8
 
V47 Ch15 Designing And Managing Integrated Marketing Channels
V47 Ch15 Designing And Managing Integrated Marketing ChannelsV47 Ch15 Designing And Managing Integrated Marketing Channels
V47 Ch15 Designing And Managing Integrated Marketing Channels
Briton33
 
Concept of marketing mix
Concept of marketing mixConcept of marketing mix
Product(a tool of marketing mix)
Product(a tool of marketing mix)Product(a tool of marketing mix)
Product(a tool of marketing mix)
Mithilesh Trivedi
 
16 retail communication mix
16   retail communication mix16   retail communication mix
16 retail communication mix
Dr. Parveen Kaur Nagpal
 
ajaykumarta-Unit 5 promotion & place mix
ajaykumarta-Unit   5 promotion & place mixajaykumarta-Unit   5 promotion & place mix
ajaykumarta-Unit 5 promotion & place mix
ajay kumarta
 
Concept of marketing mix
Concept of marketing mixConcept of marketing mix
The importance of marketing mix to the Travel, Tourism and Hospitality manage...
The importance of marketing mix to the Travel, Tourism and Hospitality manage...The importance of marketing mix to the Travel, Tourism and Hospitality manage...
The importance of marketing mix to the Travel, Tourism and Hospitality manage...
Paul Solaman Srilal 🇱🇰
 
4604416
46044164604416
4604416
Shabbir Terai
 

What's hot (20)

4 P's of Marketing
4 P's of Marketing4 P's of Marketing
4 P's of Marketing
 
Neethu(titto sunny)
Neethu(titto sunny)Neethu(titto sunny)
Neethu(titto sunny)
 
Marketing mix
Marketing mixMarketing mix
Marketing mix
 
The 4 p's of marketing
The 4 p's of marketingThe 4 p's of marketing
The 4 p's of marketing
 
Marketing
MarketingMarketing
Marketing
 
Integrated marketing communications
Integrated marketing communicationsIntegrated marketing communications
Integrated marketing communications
 
Kotcha16
Kotcha16Kotcha16
Kotcha16
 
Marketing management
Marketing managementMarketing management
Marketing management
 
1a. the 4 p’s of marketing
1a. the 4 p’s of marketing 1a. the 4 p’s of marketing
1a. the 4 p’s of marketing
 
Advertising and marketing process
Advertising and marketing processAdvertising and marketing process
Advertising and marketing process
 
Marketing Mix
Marketing MixMarketing Mix
Marketing Mix
 
Channel of distribution
Channel of distributionChannel of distribution
Channel of distribution
 
V47 Ch15 Designing And Managing Integrated Marketing Channels
V47 Ch15 Designing And Managing Integrated Marketing ChannelsV47 Ch15 Designing And Managing Integrated Marketing Channels
V47 Ch15 Designing And Managing Integrated Marketing Channels
 
Concept of marketing mix
Concept of marketing mixConcept of marketing mix
Concept of marketing mix
 
Product(a tool of marketing mix)
Product(a tool of marketing mix)Product(a tool of marketing mix)
Product(a tool of marketing mix)
 
16 retail communication mix
16   retail communication mix16   retail communication mix
16 retail communication mix
 
ajaykumarta-Unit 5 promotion & place mix
ajaykumarta-Unit   5 promotion & place mixajaykumarta-Unit   5 promotion & place mix
ajaykumarta-Unit 5 promotion & place mix
 
Concept of marketing mix
Concept of marketing mixConcept of marketing mix
Concept of marketing mix
 
The importance of marketing mix to the Travel, Tourism and Hospitality manage...
The importance of marketing mix to the Travel, Tourism and Hospitality manage...The importance of marketing mix to the Travel, Tourism and Hospitality manage...
The importance of marketing mix to the Travel, Tourism and Hospitality manage...
 
4604416
46044164604416
4604416
 

Similar to 3.01 PowerPoint

01 marketing concepts
01 marketing concepts01 marketing concepts
01 marketing concepts
Thejus Jayadev
 
01 marketing concepts
01 marketing concepts01 marketing concepts
01 marketing concepts
Thejus Jayadev
 
Mmi marketing 3
Mmi marketing 3Mmi marketing 3
Mmi marketing 3
gatecomro
 
Imc
ImcImc
An introduction to IMC
An introduction to IMCAn introduction to IMC
An introduction to IMC
ERIC HEWSON
 
Marketing Mix
Marketing MixMarketing Mix
Marketing Mix
vip1233
 
Ch14 introto business
Ch14 introto businessCh14 introto business
Ch14 introto business
Natalia
 
An Introduction To Integrated Marketing Communications
An Introduction To Integrated Marketing CommunicationsAn Introduction To Integrated Marketing Communications
An Introduction To Integrated Marketing Communications
charmi
 
Sm 6
Sm 6Sm 6
Marketing mix and sale promotion
Marketing mix and sale promotionMarketing mix and sale promotion
Marketing mix and sale promotion
Behshad mehrabi
 
Dr. Thomas Eppel - Management 1 Chapter 13,14 : Marketing
Dr. Thomas Eppel - Management 1 Chapter 13,14 : MarketingDr. Thomas Eppel - Management 1 Chapter 13,14 : Marketing
Dr. Thomas Eppel - Management 1 Chapter 13,14 : Marketing
sumguy
 
Marketing for the 21st Century
Marketing for the 21st CenturyMarketing for the 21st Century
Marketing for the 21st Century
Khawaja Naveed
 
Marketing intro
Marketing introMarketing intro
Marketing intro
prachinishu
 
Principles of marketing chapter-8 promotion (pu)
Principles of marketing chapter-8 promotion (pu)Principles of marketing chapter-8 promotion (pu)
Principles of marketing chapter-8 promotion (pu)
Saroj Khanal
 
Integrated MarComm By MemberiID
Integrated MarComm By MemberiIDIntegrated MarComm By MemberiID
Integrated MarComm By MemberiID
Ahmad Hariono
 
Promotion Mix (Sales Promotion and Personal Selling)
Promotion Mix (Sales Promotion and Personal Selling)Promotion Mix (Sales Promotion and Personal Selling)
Promotion Mix (Sales Promotion and Personal Selling)
Dr. Durgaprasad Navulla
 
Marketing Management
Marketing ManagementMarketing Management
Marketing Management
Zulfikar A. Bharmal
 
Unit1 introduction
Unit1 introductionUnit1 introduction
Unit1 introduction
Subhajit Sanyal
 
Product: Four Ps of Marketin
Product: Four Ps of MarketinProduct: Four Ps of Marketin
Product: Four Ps of Marketin
JC
 
MARKETING-CH10
MARKETING-CH10MARKETING-CH10
MARKETING-CH10
kkjjkevin03
 

Similar to 3.01 PowerPoint (20)

01 marketing concepts
01 marketing concepts01 marketing concepts
01 marketing concepts
 
01 marketing concepts
01 marketing concepts01 marketing concepts
01 marketing concepts
 
Mmi marketing 3
Mmi marketing 3Mmi marketing 3
Mmi marketing 3
 
Imc
ImcImc
Imc
 
An introduction to IMC
An introduction to IMCAn introduction to IMC
An introduction to IMC
 
Marketing Mix
Marketing MixMarketing Mix
Marketing Mix
 
Ch14 introto business
Ch14 introto businessCh14 introto business
Ch14 introto business
 
An Introduction To Integrated Marketing Communications
An Introduction To Integrated Marketing CommunicationsAn Introduction To Integrated Marketing Communications
An Introduction To Integrated Marketing Communications
 
Sm 6
Sm 6Sm 6
Sm 6
 
Marketing mix and sale promotion
Marketing mix and sale promotionMarketing mix and sale promotion
Marketing mix and sale promotion
 
Dr. Thomas Eppel - Management 1 Chapter 13,14 : Marketing
Dr. Thomas Eppel - Management 1 Chapter 13,14 : MarketingDr. Thomas Eppel - Management 1 Chapter 13,14 : Marketing
Dr. Thomas Eppel - Management 1 Chapter 13,14 : Marketing
 
Marketing for the 21st Century
Marketing for the 21st CenturyMarketing for the 21st Century
Marketing for the 21st Century
 
Marketing intro
Marketing introMarketing intro
Marketing intro
 
Principles of marketing chapter-8 promotion (pu)
Principles of marketing chapter-8 promotion (pu)Principles of marketing chapter-8 promotion (pu)
Principles of marketing chapter-8 promotion (pu)
 
Integrated MarComm By MemberiID
Integrated MarComm By MemberiIDIntegrated MarComm By MemberiID
Integrated MarComm By MemberiID
 
Promotion Mix (Sales Promotion and Personal Selling)
Promotion Mix (Sales Promotion and Personal Selling)Promotion Mix (Sales Promotion and Personal Selling)
Promotion Mix (Sales Promotion and Personal Selling)
 
Marketing Management
Marketing ManagementMarketing Management
Marketing Management
 
Unit1 introduction
Unit1 introductionUnit1 introduction
Unit1 introduction
 
Product: Four Ps of Marketin
Product: Four Ps of MarketinProduct: Four Ps of Marketin
Product: Four Ps of Marketin
 
MARKETING-CH10
MARKETING-CH10MARKETING-CH10
MARKETING-CH10
 

Recently uploaded

Assessment and Planning in Educational technology.pptx
Assessment and Planning in Educational technology.pptxAssessment and Planning in Educational technology.pptx
Assessment and Planning in Educational technology.pptx
Kavitha Krishnan
 
How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17
Celine George
 
The History of Stoke Newington Street Names
The History of Stoke Newington Street NamesThe History of Stoke Newington Street Names
The History of Stoke Newington Street Names
History of Stoke Newington
 
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat  Leveraging AI for Diversity, Equity, and InclusionExecutive Directors Chat  Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
TechSoup
 
The Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collectionThe Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collection
Israel Genealogy Research Association
 
Top five deadliest dog breeds in America
Top five deadliest dog breeds in AmericaTop five deadliest dog breeds in America
Top five deadliest dog breeds in America
Bisnar Chase Personal Injury Attorneys
 
How to Manage Your Lost Opportunities in Odoo 17 CRM
How to Manage Your Lost Opportunities in Odoo 17 CRMHow to Manage Your Lost Opportunities in Odoo 17 CRM
How to Manage Your Lost Opportunities in Odoo 17 CRM
Celine George
 
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdfবাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
eBook.com.bd (প্রয়োজনীয় বাংলা বই)
 
Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...
Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...
Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...
National Information Standards Organization (NISO)
 
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptxC1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
mulvey2
 
MARY JANE WILSON, A “BOA MÃE” .
MARY JANE WILSON, A “BOA MÃE”           .MARY JANE WILSON, A “BOA MÃE”           .
MARY JANE WILSON, A “BOA MÃE” .
Colégio Santa Teresinha
 
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
PECB
 
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityNatural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Akanksha trivedi rama nursing college kanpur.
 
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
IreneSebastianRueco1
 
A Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptxA Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptx
thanhdowork
 
The basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptxThe basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptx
heathfieldcps1
 
clinical examination of hip joint (1).pdf
clinical examination of hip joint (1).pdfclinical examination of hip joint (1).pdf
clinical examination of hip joint (1).pdf
Priyankaranawat4
 
Main Java[All of the Base Concepts}.docx
Main Java[All of the Base Concepts}.docxMain Java[All of the Base Concepts}.docx
Main Java[All of the Base Concepts}.docx
adhitya5119
 
Advanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docxAdvanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docx
adhitya5119
 
Life upper-Intermediate B2 Workbook for student
Life upper-Intermediate B2 Workbook for studentLife upper-Intermediate B2 Workbook for student
Life upper-Intermediate B2 Workbook for student
NgcHiNguyn25
 

Recently uploaded (20)

Assessment and Planning in Educational technology.pptx
Assessment and Planning in Educational technology.pptxAssessment and Planning in Educational technology.pptx
Assessment and Planning in Educational technology.pptx
 
How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17How to Fix the Import Error in the Odoo 17
How to Fix the Import Error in the Odoo 17
 
The History of Stoke Newington Street Names
The History of Stoke Newington Street NamesThe History of Stoke Newington Street Names
The History of Stoke Newington Street Names
 
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat  Leveraging AI for Diversity, Equity, and InclusionExecutive Directors Chat  Leveraging AI for Diversity, Equity, and Inclusion
Executive Directors Chat Leveraging AI for Diversity, Equity, and Inclusion
 
The Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collectionThe Diamonds of 2023-2024 in the IGRA collection
The Diamonds of 2023-2024 in the IGRA collection
 
Top five deadliest dog breeds in America
Top five deadliest dog breeds in AmericaTop five deadliest dog breeds in America
Top five deadliest dog breeds in America
 
How to Manage Your Lost Opportunities in Odoo 17 CRM
How to Manage Your Lost Opportunities in Odoo 17 CRMHow to Manage Your Lost Opportunities in Odoo 17 CRM
How to Manage Your Lost Opportunities in Odoo 17 CRM
 
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdfবাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
বাংলাদেশ অর্থনৈতিক সমীক্ষা (Economic Review) ২০২৪ UJS App.pdf
 
Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...
Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...
Pollock and Snow "DEIA in the Scholarly Landscape, Session One: Setting Expec...
 
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptxC1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
C1 Rubenstein AP HuG xxxxxxxxxxxxxx.pptx
 
MARY JANE WILSON, A “BOA MÃE” .
MARY JANE WILSON, A “BOA MÃE”           .MARY JANE WILSON, A “BOA MÃE”           .
MARY JANE WILSON, A “BOA MÃE” .
 
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...
 
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama UniversityNatural birth techniques - Mrs.Akanksha Trivedi Rama University
Natural birth techniques - Mrs.Akanksha Trivedi Rama University
 
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
 
A Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptxA Survey of Techniques for Maximizing LLM Performance.pptx
A Survey of Techniques for Maximizing LLM Performance.pptx
 
The basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptxThe basics of sentences session 6pptx.pptx
The basics of sentences session 6pptx.pptx
 
clinical examination of hip joint (1).pdf
clinical examination of hip joint (1).pdfclinical examination of hip joint (1).pdf
clinical examination of hip joint (1).pdf
 
Main Java[All of the Base Concepts}.docx
Main Java[All of the Base Concepts}.docxMain Java[All of the Base Concepts}.docx
Main Java[All of the Base Concepts}.docx
 
Advanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docxAdvanced Java[Extra Concepts, Not Difficult].docx
Advanced Java[Extra Concepts, Not Difficult].docx
 
Life upper-Intermediate B2 Workbook for student
Life upper-Intermediate B2 Workbook for studentLife upper-Intermediate B2 Workbook for student
Life upper-Intermediate B2 Workbook for student
 

3.01 PowerPoint

Editor's Notes

  1. 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.
  2. 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.
  3. What is marketing research? Marketing research involves customers in order to find solutions to problems through carefully designed studies.
  4. 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.
  5. What factors influence the pricing of products and services? Supply and demand Uniqueness Age Season Complexity Convenience
  6. 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.
  7. 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.
  8. 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.