Business Management Business Plan

The 4 P’s of Marketing  Product – What your business has to offer?  Price – How much a customer pays to enjoy your business?  Place – How your business reaches the customers?  Promotion – How to persuade customers to buy?

Product  Features – what it does, how it appears  Benefits – reasons to purchase  Product Mix – variety of products offered  Brand – identifiable name, logo, mark, slogan, etc.

Product

The Jackpack

Price  Price Objectives – build image, increase sales volume / market share, maximize profits  Demand-Based – what customers are willing to pay  Competition-Based – what main competition charges  Cost-Based – what the business had to pay for the product

Price

Place  Direct Channel – producer to consumer  Indirect Channel – producer to intermediaries to consumer  Intermediary – middle men in the sale of goods  Distribution Intensity – exclusive, selective, intensive

Place

Promotion  Advertising – public, promotional message  Visual Merchandising – artistic display of product  Public Relations – activities to build positive image  Publicity – “free advertising”  Personal Selling – in-person sales tactics  Sales Promotion – short-term buying incentive

Promotion