Chapter 20 Marketing and Selling

Chapter Objectives Develop a business plan. Distinguish between the terms marketing and selling. Define the term organization. Explain how suggestive selling can increase profitability. Explain the relationship between customer mix and target markets.

The Business Plan A written statement of an operation’s business strategy Includes: 1. Summary statement 2. Market analysis 3. Management plan 4. Financial data 5. Projections

Marketing and Selling Marketing: Determining the target customers’ motivations, needs, and expectations. Selling: Placing the product before the consumer by use of targeted advertising and selling techniques, including print media, broadcast media, direct selling, etc.

Organization Defined A business entity whose purpose is to sell a product or service to a consumer base for the purpose of earning a fair return on investment, or profit

Suggestive Selling Suggestive selling is providing the consumer with what he or she wants, and then some… The technique increases profits in the beverage industry by increasing the average check

Customer Mix and Target Markets Atmosphere, décor, entertainment, scenery, and image all serve to attract the type of clientele that management has targeted as its core customer base.

CONCLUSION