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Transcript
2.02 Classify the functions of marketing and the marketing mix. Classify the functions of marketing Product/service management Pricing Marketing Information Management (MIM) Selling Promotion Distribution Summarize the marketing mix Marketing mix: A combination of decisions a business makes in order to best reach its target market. Known as the four Ps (product, price, place, promotion). Marketing Mix: Product Businesses must decide which products to offer customers. Marketing Mix: Price The amount a business charges customers for a product. Marketing Mix: Place Having the product available at the right time and location. Also known as distribution. Marketing Mix: Promotion Informing and reminding customers of the products available to them and persuading them to purchase. Promotion includes advertising, personal selling, sales promotion, and publicity.