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Ch 22 - Coggle Diagram
Ch 22
The product life cycle:
Maturity
Saturation
Growth
Decline
Introduction
Marketing Mix (4 p’s)
Place
Promotion
Price
Product
Channels of distribution:
Wholesaler
Retailers
Manufacturer
Consumer
What do you do when a business goes in decline:
Lower the price
Advertise it
Upgrade it
Advertising Media:
TV
Magazines/ Newspapers
Social Media
Two types of market research:
Field Research: Gathering Information right from the marketplace. Surveyo
Desk Research: Gathering Information that has already been collected. Internet
What is a target market:
A group of people to whom a business aims to sell its products or services.
Usp: Uniqe selling point.