1. Marketing

2. All of the process—planning, pricing, promoting, distributing, and selling—used to determine and satisfy the needs of customers and the company.
Define Marketing

3. Product What will they buy?
Marketing Mix
Product What will they buy?
Price
How much will they pay?
Place Where will hey buy it?
Promotion How will they know?

4. Definition: Includes the individuals or companies that are interested in a particular product or service and are willing and able to pay for it.
Who is the TM?
Demographics
Psychographics
Use-based data
Geographic data
Target Market

5. A system for collecting, recording and analyzing information about customers, competitors, products and services.
Primary Data
Survey
Focus groups
Secondary Data
Publications
Government and business websites
Trade magazines
Newspaper
Market Research

6. 6 steps to Market Research
Define the questions
Determine the data needed
Collect the data
Analyze the data
Take action
Evaluate the Results
6 steps to Market Research

7. Competition Types of Competition Direct Competition
Indirect competition
Large retailers
Competition

8. Marketing Plan Used to: Should include: Define your market
Outline a strategy for attracting and keeping customer
Identify and anticipate change
Should include:
Product or Service
Target Market
Competition
Marketing Budget
Marketing Plan
Business Location
Pricing Strategy
Promotional Strategy
Distribution (Place) Strategy