BUSINESS HIGH SCHOOL-ENTREPRENEURSHIP Locate and Set Up for Business Choosing a Location for a Non-Retail Business Designing the Physical Layout Purchasing Equipment, Supplies and Inventory Content Vocabulary: Inventory Tenant Trade Area Vendor Advertising Channels of Distribution Marketing Mix Marketing Unit 7 Market Your Business The Marketing Mix—Product, Distribution, Price, Promotion Set Marketing Goals Essential Learning Expectations-Unit 7: Consider the advantages and disadvantages of each type of location to determine what is best for your business. To evaluate leases, you can compare the costs and expected benefits of various locations. The layout of the space depends upon the type of business. When marketing your business, you will need to make decisions about the product, distribution, price and promotion. Advertising is a paid form of promotion. Publicity is free promotion. Short, medium and long term goals should be set for your business to operate effectively. A written marketing plan may help you get bank financing and allows you to easily review and update your plan.