MODULE 7 MARKET

It is the explicit communication strategy adopted by an enterprise to elicit the patronage, loyalty, and support from its customers and stakeholders

• Packaging

• Positioning

• Product

• . Promotion

It is designed to capture market share and defeat competitors

• Business plan

• Feasibility plan

• Marketing plans

• Pre-feasibility plan

They are the one who made a marketing strategy, sell and push the product to the right market

• People

• Place

• Price

• Product

It is the tangible good or the intangible service that the enterprise offers to its customers in order to satisfy their needs

• Packaging

• Positioning

• Product

• Promotion

This pricing may be given to loyal and regular customers to maintain their patronage

• Discount pricing

• Introductory pricing

• Promotional pricing

• Recovery pricing

It charges a price that allows the organization to merely recover its full costs, and to reinvest the sales proceeds to produce additional products.

• . Cost recovery pricing

• Marginal pricing

• Scarcity pricing

• Subsidy pricing

There are general types of products that are marketed by enterprises, except:

• Breakthrough products

• Copycat products

• Differentiated products

• Fake products

It identifies the product, describes its features and benefits, and it provides easy brand identification for the consumers.

• Packaging

• Positioning

• Product

• Promotion

It sets the price higher than the variable costs of a product but lower than the full costs in order to increase overall profitability

• Marginal pricing

• Profit maximization

• Revenue maximization

• Subsidy pricing

It is the major factor for the customer in buying a product.

• People

• Place

• Price

• Product