2. The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives 7Ps – Price, Product, Promotion, Place, People, Process, Physical Environment

4.  Importance of:  knowing the market  elasticity  keeping an eye on rivals  Strategies:  Skimming: High price to skim maximum  Penetration: low price to attract large no. of customer  Psychological  Cost plus

6.  Design  Technology  Usefulness  Convenience  Value  Quality  Packaging  Labeling  Accessories  Warranties.

7. Product is anything that can be offered to a market that might satisfy a want or need. good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. A product can be classified as tangible or intangible

8. Promotion is communicating with the public in an attempt to influence them toward buying your products and/or services To make customer aware about existing, new product or potential product

9.  Special offers  Advertising  Endorsement  Trial  Direct mailing  Leaflets/posters  Free gift

11. The promotional message should: Grab A ttention Stimulate I nterest Create D esire Promote A ction

12. The means by which products and services get from producer to consumer and where they can be accessed by the consumer  Retail  Wholesale  Mail order  Internet  Direct sale  Peer to peer  Multichannel

14. People represent the business  The image they present can be important  First contact often human – what is the lasting image they provide to the customer?  Extent of training and knowledge of the product/service concerned  Do staff represent the desired culture of the business?

15.  Employee  Management  Culture  Customer service

16. A process is a collection of interrelated work tasks initiated in response to an event that achieves a specific result for the customer of the process.  How do people consume services?  What processes do they have to go through to acquire the services?  Where do they find the availability of the service?  Contact  Reminders  Registration  Subscription  Form filling  Degree of technology

17.  It is the environment in which the service is delivered and where the firm and the customer interact and any tangible commodities that facilitate performance or communication of the service