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Branding
3. Packaging
Price –
1. Price skimming
2. Price penetration
3. Loss leader
Promotion –
1. Advertising
2. Personal selling
3. Below the line promotions
Place –
1. Transport
2. Warehousing
3. Inventory
Monitoring – checking and observing the actual progress of the marketing plan
Implementation – is where the marketing plans are put into operation
Controlling – involves the comparison of planned performance against actual performance.
SWOT analysis enables the business to determine the internal and external challenges and possibilities.
BUSINESS LIFE CYCLE
Intro ? sales grow slowly
Negative profits
Growth ? sales grow rapidly
Highly profitable
Maturity ? sales level off
Occasional advertising
Decline ? sales fall
TYPES OF MARKETS
• Resource – business buyers who purchase the factors or production in order to make products (land, labour, capital, enterprise)
• Industrial – products needed to manufacture other products
• Intermediate – consists of goods purchased for re-sale
• Consumer – personal buyers who purchase goods and services for personal user
• Mass – customers who want to buy standard products
• Niche – buyers with specialized needs
Primary date – are the facts and figures collected form original sources for the purpose of the specific research problem...
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