What are the four P’s of marketing?
Product, Price, Promotion, Place
3 Major price considerations when deciding on a price
Competition based, Consumer based, Cost based
What are the activities in promotion?
advertising, personal selling, sales promotion, public relations
Promotion: (personal selling)
retailer and consumer salemanship
Promotion: (sales promotion)
event based news worthy to attract attention (ie: cutting prices)
Promotion: (public relations)
the art to get people to talk about the product (ie: words of mouth and media)
Place(one of the p’s of marketing)
ditribution and reachable market
Product Life Cycle

1. Intro of production

Hire a custom writer who has experience.
It's time for you to submit amazing papers!

order now

2. Growth


4. Decline

Diffusion of Innovations

Innovations, Early Adaptors, Early Majority, Late Majority, Laggards.

(Innovators are the word of mouth people. The Early Adaptors help the product move forward. Both of them are the most important people.)

What is Innovation?
the process to get through the marketing part. It is the people who want to be the first to get the product.
Who are the Early Adapters?
The people who buy the product if it looks good.
Who are the Early/Late Majority?
The large % of product selling. Hoping to move into majority from Life Cycle. (Big amounts being bought)
Who are the Laggards?
Those who buy the stuff when it is way past the style.
What do the Market segmentation look at?Give examples.

1. Substantial (is it big enough to go forward?)

2. Measurable (able to be analyzed?)

3. Accessible (can it distribute to it?)

4. Responsive (is target market able to buy product?) {important}

What does DMA stand for and what is it?

-Designated Marketing Area

-geographics bounds of a media market

What is geographics?
locations based (ie: zipcode, state, room#)
life style based: [more interest based and hobbies based]. ie(those people who love music or hiking)