An Introduction to the Principles of Marketing M A R K E T I N G Click to Begin
MARKETING Differentiate between market and marketing Features of a successful marketing plan. Reasons for market research Marketing mix Demand Supply Next Page
MARKETING WHAT IS A MARKET? Next Page
A place where people meet to exchange, or buy and sell their products. Eg Montego Bay Coronation Market. A process by which buyers and sellers interact for the purpose of exchange. MARKET Next Page
MARKETING WHAT IS MARKETING? Awareness Next Page
The management process responsible for identifying, anticipating and satisfying consumers’ requirements profitably. It is a two way process involving the producer and the consumer. MARKETING Next Page
MARKETING FEATURES OF A MARKETING PLAN Next Page
MARKETING Market Summary Product Definition Competition Positioning Communication Strategy Packaging & Fulfillment Launch Strategies Public Relations Advertising Other Promotions Pricing Distribution Vertical Markets International Success Matrix Schedule Click to View Marketing Plan Click to View Marketing Plan Next Page
MARKETING WHAT ARE THE FOUR P’s OF MARKETING? Next Page
MARKETING Next Page Click to View Marketing Mix
MARKETING WHAT IS MEANT BY THE TERM DEMAND? Next Page
MARKETING The willingness and ability of consumers to purchase goods at a specific price over a set time period. Next Page
MARKETING The demand curve is the line drawn on a graph. The demand curve goes from lower right to upper left. The diagram to the right shows three demand curves based on the laws of demand. Next Page Click to View The Laws of Demand Click to View The Laws of Demand Click to View The Demand Schedule Click to View The Demand Schedule
MARKETING WHAT IS MEANT BY THE TERM SUPPLY? Next page
SUPPLY The willingness and ability of suppliers to provide goods at a specific price at over a set time period. Next Page
THE SUPPLY CURVE The supply curve is a line drawn on a graph that goes from lower left to upper right. The diagram to the right shows three supply curves based on the laws of supply. Click to End Slide Show Click to View the Laws of Supply Click to View the Laws of Supply Click to View the Supply Schedule Click to View the Supply Schedule
THE LAWS OF DEMAND THE HIGHER THE PRICE LESS PRODUCTS WILL BE DEMANDED, THE LOWER THE PRICE MORE PRODUCTS WILL BE DEMANDED. THE MEANS THAT AS PRICE INCEASES THE DEMAND FOR PRODUCTS WILL FALL, AND AS PRICE DECREASES DEMAND WILL INCREASE FOR PRODUCTS. Click to Return to Marketing
DEMAND SCHEDULE DEMAND SCHEDULE DEPICTING THE LAWS OF DEMAND FOR RICE PER KILOGRAM FOR A WEEK. QTY DEMANDEDPRICE (RICE) $ 10 ………………………. 1 9 ………………………… 2 8 ………………………… 3 7 …………………………. 4 6 ………………………… 5 5 ………………………… 6 4 …………………………. 7 3 …………………………. 8 2 …………………………. 9 1 …………………………. 10 Click to Return to Marketing
THE LAWS OF SUPPLY THE HIGHER THE PRICE MORE WILL BE SUPPLIED, THE LOWER THE PRICE LESS WILL BE SUPPLIED. THE MEANS THAT AS PRICE INCREASES THE QUANTITY OF PRODUCTS SUPPLIED WILL INCREASE, AND AS PRICE DECREASES THE QUANTITY SUPPLIED OF PRODUCTS WILL INCREASE. Click to Return to Supply Curve
SUPPLY SCHEDULE THE SUPPLY SCHEDULE IS DEPICTING THE LAWS OF SUPPLY FOR SUGAR PER KILOGRAM FOR A WEEK. QTY DEMANDED PRICE (SUGAR) $ 1 …………………………. 1 2 ………………………… 2 3 ………………………… 3 4 …………………………. 4 5 ………………………… 5 6 ………………………… 6 7 …………………………. 7 8 …………………………. 8 9 ………………………… …………………………. 10 Click to Return to Supply Curve