Business Technology Mr. Bernstein DECA, pp 16-20: Determine What To Buy (…or What To Offer!) September 19, 2013.

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Business Technology Mr. Bernstein DECA, pp 16-20: Determine What To Buy (…or What To Offer!) September 19, 2013

Business Technology Mr. Bernstein Marketing Mix Product Strategy Pricing Strategy Place Strategy Promotion Strategy The Four P’s! 2

Business Technology Mr. Bernstein 4 P’s: 3

Business Technology Mr. Bernstein Product What will your Target Market buy? Is your product quality competitive with customer alternatives? Does branding affect perceptions of quality? Pricing Costs and Expenses Competition Supply and Demand – Economic Conditions, Inventory 4

Business Technology Mr. Bernstein Place HOW and WHERE products are offered or distributed What is your competitors’ distribution method? Does branding affect perceptions of quality? Promotion Advertising Promotional campaigns 5

Business Technology Mr. Bernstein Gathering Information Surveys Observe Competition “Want slip” or similar system – records unmet needs Trade Shows and Conventions 6