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5 P’s.

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Presentation on theme: "5 P’s."— Presentation transcript:

1 5 P’s

2 5 P’s The 5 P’s are: Product Place Price Promotion People

3 Product First, marketing is used to find out if there is a demand for a product. Then marketing predicts how to make the product appeal to the consumers. Packaging is a major part of marketing. It includes the design, color, size, and brand name of a product

4 Place Marketers have to decide how and where customers will buy their goods and services. For example: A company is more likely to sell snowshoes in Maine than in Texas because of the snowy weather in Maine.

5 Place There are three types of distribution
Channel distribution- is a pathway to direct products to consumers Direct distribution- occurs when goods or services are sold from the producer directly to the consumer Indirect distribution- involves one or more intermediaries.

6 Price To determine the price of a product, marketers consider these three things: How much are customers willing to pay? Is the price competitive with other products? Can the company make a profit? In order for the company to make a profit, they must first reach the ‘break-even point.’ This is the point at which the total revenue, or sales, equal the total costs and expenses.

7 Promotion Promotion involves making the customers aware of the product. The most familiar form of promotion is advertising.

8 People The people is your target market
Target market- is the people, or group of people, that you are trying to reach with the other 4 P’s The people are who you, as a marketer, try to sell your product to.

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