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Ch 1.1 Marketing Basics (7 Functions of Marketing (Distribution…
Ch 1.1 Marketing Basics
Marketing Mix
Distribution
Distribution involves the locations and methods used to make the products available to the customers
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Promotion
Promotion describes ways to encourage costumers to purchase products and to increase costumer satisfaction. It includes advertising, publicity, personal selling, and public relations
7 Functions of Marketing
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Promotion
Promotion is utilizing advertising and other forms of communication to put across a desired message to the target consumers
Selling
Selling includes understanding the wants and needs of the consumer through direct and personal communication. It also involves planning for the future needs of these consumers.
Pricing
Pricing is the process of establishing and communicating the value of goods and services to the consumers. In some cases the prices may be set higher, knowing that the consumer will be willing to pay this price for the product or service
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Financing
Financing requires a company to budget for its own marketing activities, and also provide the customer will financial aid in paying for the company's services or products