Production

Advertising

Is any paid form of non-personal presentation and promotion of goods and services by the identified sponsor in the exchange of a fee

Personal Selling

This is one of the traditional form of promotional tool wherein the salesman interacts with the customer directly

Sales Promotion

Is the short term incentives given to the customers have an increased sale for given period

Coupons

Discounts

Public Relations

The marketers try to built a favorable image in the market by creating relations with the general public

Direct Marketing

Companies reach customers directly without any intermediaries or any paid medium only with technology

Price

Is the amount charged for a productor service. The price has always shaped the perception on the product

Place

They must be made available to the consumers at a place where they can conveniently make a purchase

Product

Refers to the goods and services offered by the organization

Promotion

Its refers to a process of informing persuading and influence a consumer

Identifies the consumers needs and supplies various goods and services to satisfy those needs

Definition

Is the defined process of evaluating the feasibility of a new product or service through research

Resarch

Primary

By you

Can be either data

Benefits: Specific to your needs

Disadvantages: Usually costs more

Secondary

By someone else

Can be either

Benefits: Usually cheap and quick

Disadvantages: Can be too old or not specific enough

Data

Qualntitative

Associated with numbers

Implemented when data is numerical

Collected data can be statistically

Ex: Time, Weight, Height

Qualitative

Associated with details

Implementedwhen data can be segregate

Collected can just be observed

Beauty, Colors, Flavors

Methods

Interview

Is where the researcher asks a series of questions to collect information

Focus Group

Are 8-10 people that you gather to get their impressions of a product or service

Etnographic Research

Is conducted in natural settings of respondents

Steps

Define the problem

Define the sample

Carry out data collection

Analyze the results

Make the report

Subtopic

Benefits

Make well-informed decisions

Determine the market size

Productive business investment

Importance

It provide us with information and opportunities about value of existing and new products