1. MARKET YOUR BUSINESS Chapter 9
Entrepreneurship
4/19/2017
Chapter 9
MARKET YOUR BUSINESS
9.1 The Marketing Mix—Product, Distribution, Price
9.2 The Marketing Mix—Promotion
9.3 Set Marketing Goals
Chapter 9

2. Lesson 9.1 THE MARKETING MIX— PRODUCT, DISTRIBUTION, PRICE
Chapter 9
Lesson 9.1 THE MARKETING MIX— PRODUCT, DISTRIBUTION, PRICE
GOALS
Select a product mix, product features, and positioning for your goods.
Identify channels of distribution for your product or service.
Price the products or services your business sells using various methods.

3. MARKETING MIX Marketing mix is the blending of: Product Distribution
Chapter 9
MARKETING MIX
Marketing mix is the blending of:
Product
Distribution
Price
Promotion

4. PRODUCT Product mix Selecting product features
Chapter 9
PRODUCT
Product mix
Selecting product features
Position your products or services

5. Distribution Channels of distribution for retail goods
Chapter 9
Distribution
Channels of distribution for retail goods
Distribution on the Internet
Receiving goods to sell
Channels of distribution for service businesses
Channels of distribution for manufacturing businesses
Physical distribution
Transportation
Storage and product handling

6. Price Set price objectives Determining a price Pricing a service
Chapter 9
Price
Set price objectives
Determining a price
Demand-based pricing
Cost-based pricing
Competition-based pricing
Pricing a service
Time-based pricing
Bundling
Breakeven point

7. Lesson 9.2 THE MARKETING MIX—PROMOTION
Chapter 9
Lesson 9.2 THE MARKETING MIX—PROMOTION
GOALS
Use advertising to promote your business.
Study publicity as a promotional tool.
Evaluate the role of selling in a business.
Evaluate other kinds of promotion.

8. Chapter 9
ADVERTISING
Advertising is a paid form of communication sent out by a business about a product or service.
Public relations is the act of establishing a favorable relationship with customers and the general public.

9. Chapter 9
MESSAGE
Choose your message
Choose your medium

10. ADVERTISING MEDIA Television advertising Radio advertising
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ADVERTISING MEDIA
Television advertising
Radio advertising
Newspaper advertising
Telephone directory advertising
Direct-mail advertising
Magazine advertising
Outdoor advertising
Transit advertising

11. PUBLICITY Selling Personal selling Product knowledge
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PUBLICITY
Selling
Personal selling
Product knowledge
Determining customer needs and wants
Needs assessment
Buying decisions
Customer decisions

12. OTHER TYPES OF PROMOTION
Chapter 9
OTHER TYPES OF PROMOTION
Sales promotions
Telemarketing

13. Lesson 9.3 SET MARKETING GOALS
Chapter 9
Lesson 9.3 SET MARKETING GOALS
GOALS
Set short-, medium-, and long-term goals for your business.
Write your marketing plan.

14. ESTABLISH YOUR GOALS Short-term goals Medium-term goals
Chapter 9
ESTABLISH YOUR GOALS
Short-term goals
Medium-term goals
Long-term goals

15. Chapter 9
SHORT-TERM GOALS
Short-term goals are what you want your business to achieve in the next year.
Goals can be stated in terms of:
Number of customers
Level of sales
Level of profits
Other measures of success

16. Chapter 9
MEDIUM-TERM GOALS
Medium-term goals describe what you want your business to achieve in the next two to five years.

17. Chapter 9
LONG-TERM GOALS
Long-term goals show where your business will be five, ten, even twenty years from now.
Thinking about what you want to do in the long term can help you think about how to market the business today.

18. WRITE YOUR MARKETING PLAN
Chapter 9
WRITE YOUR MARKETING PLAN
Your written marketing plan should identify your overall market strategy as well as your specific strategies for price, product, distribution, and promotion.