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Published byArchibald Rose Modified over 6 years ago
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Eagle Challenge Google Classroom Assignment (form)
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Utility refers to the VALUE or USEFULNESS of a product or service
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Types of Utility FORM Changing raw materials or putting parts together to make them more useful. Trees ….. Pencils, paper Flour, sugar, butter … Bread
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Place Utility Having a product WHERE customers can buy it
Stores, Catalogs, Internet
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Time Utility Having a product available at a certain time of year or a convenient time of day. Shopping / Banking hours Toys at Christmas School supplies in August
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Possession Utility The exchange of a product for some monetary value
Cash, Debit, Credit, Check, Financing plans etc. Adds value to the product. Without options, some customers could not buy.
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Information Utility Communication with the consumer
Encourages sales through special offers, signs, ads, labels, manuals etc.
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Fundamentals of Marketing
Businesses must satisfy customers’ needs and wants in order to make a profit ….right products at the right price at the right time and in the right place….
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CUSTOMERS: CONSUMERS: They BUY the products
They actually USE the product SONY…..Sony’s customers are the retail stores that sell Sony products. The consumers buy Sony products from the retailer.
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What is a market? All potential customers who have the ability and willingness to buy a product Video Game Market would be all people who purchase video games Target market… A very specific group of people that a business wants to reach.
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Customer profiles…. Information about where and how a person lives and what he/she wants and needs. Age, Income level, Occupation Ethnic groups – culture, history Hispanic’s consider music a major part of their culture 70% are Roman Catholic
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Marketing mix “4 p’s of marketing”
Product Price Place Promotion
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