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4.2 MARKETING PLANNING (MAIN ELEMENTS (Marketing budgets, Marketing…

- - - - If too low, customers may lose confidence. If too high, many will be unable to afford
    - - must be effective and targeted at the opposite market
    - - Customers require the right good or service
    - - How the product is distributed to the consumer
- - - - Identifying different segments within a market and targeting different products or services to them
- - - - Small firms may be able to survive and thrive in markets that are dominated by larger firms
  - - - Small market niches do not allow economies of scale to be achieved
- - - - Opportunity to charge higher prices
      - Effective promotion
      - Free publicity from business media