Marketing is a Universe

Pricing

deciding the right price that customers will pay but you still make a profit

product

exists in nature or is made by human beings and is tangible

Marketing Information Management

how you collect information about your customers and how to use that information to get them to buy your product/service

Channel Management

how you plan how much you are going to sell in what types of stores

Market Planning

researching and deciding what cities, states, and countries you are going to offer your product/service in

service

work that provides time, skills, or expertise and is intangible

6 "Chunks" of Marketing

Channel Management, Marketing Information Management, Market Planning, Pricing, Promotion & Selling

market

a geographic area, such as a city, a state, a county, or region of the country

profit

amount of money earned after costs are paid

Promotion

the many different techniques you use to make people be aware of and want to buy your product

Selling

the techniques used to directly sell to and persuade the customer to actually buy your product/service

channel

types of places you sell your product/service, grouped together based on their similarities (grocery stores, pharmacies, retail stores, websites)