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Unit 4 Review - Coggle Diagram
Unit 4 Review
Branding
Companies use them to help people remember the business, represent the brand and to put on packaging among other things.
Brand Identification: Everything ascosiated with the brand (logo, name, slogan, etc)
Brand Names, slogans, logos are very important.
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Product Life Cycle
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Seasonal: products that are popular during a specific season
Niche: products that have a very specific market
Marketing Research
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The types of marketing research are consumer research, market research, motivation research, pricing research, competitive research, product research and advertising research
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Primary Data: Current information that is collected and analysed for a specific purpose like surveys or test marketing
Intro to Marketing
Marketing: all activities involved in getting goods and services from the business that produces them to the customer
Marketing Activites:
Research
Development
Sales
Promotion
Advertising
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The Marketing Mix
The Functions of Marketing are to help a business determine their target market and to give consumers what they want
The Marketing Process
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Design a product to meet the need based on the research.
Set a price and do product testing
Determine a brand name, design a package and logo.
Select a distribution channel suitable for the product
Design a promotional program
Build a relationship with customers
The elements of the Marketing Mix are the 4Ps (product/service, price, promotions and place) and the 2Cs (competition and consumer)
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