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)
