entrepreneurship 3

• Marketing Mix is also known as ps in marketing
• product refers to any good or services
• place represent the location
• place is also called as the distribution channel
• price is the value of money in exchange for a product or service
• promotion refers to the complete set of activities which communicate the product to the user
• this idea is to attract people to buy your product?

  promotion
• most important elements of the marketing mix today?

  people
• silent hero in marketing?

  packaging
• present product or services in a way that is different from the competitors?

  positioning
• name or symbol that distinguishes a seller's goods or services in marketplace?

  brand name
• strategy to distinguish product?

  BRANDING
• focuses on the assessments of success?

  functional
• focuses on fulfillment?

  intentional
• refers to the personality required?

  manpower
• refers to the length of working experience?

  experience
• refers to the workers academic?

  academics
• model of invention?

  prototype
• this will demonstrate the design?

  PROTOTYPE
• consumer rented the facility or products of the sellers in a certain period of time?

  rented good service
• repair and maintenance services rendered by the sellers to the products of the customer

  owned goods service
• the credibility of the service provided most of the time counts

  intangibility
• the skills of the provider must enhance the develop to better serve the customer

  perishability
• service provider and services cannot be separated

  inseparability
• service is difficult to standardize

  variability
• includes painting, machinery repair and janitorial services

  maintenance and repair service
• accounting services and legal services

  business advisory services
• are the unprocessed and basic material that is used to produce goods

  raw materials
• state of being reliable worthy of confidence and dependable

  reliability
• degree of excellence, superior in kind and high distinguishing attribute

  quality
• the best suppliers that regularly communicate will find what the customers need

  communication
• the supplier must be assured that the company has sufficiently strong cash flow to deliver what the company wants and needs

  financial security
• a strong relationship will benefit both producer and supplier

  a partnership approach
• activities needed to produce and transport a product or service to consumers or industrial users

  supply chain
• this will allow companies to prioritize their marketing

  customer relationship management
• this is a multi-company, unified system

  customer service management
• process tries to align supply and demand

  demand management
• this engages in generating, filling, and delivering service for customers order

  order-fulfillment
• this ensures that firms in the supply chain have the necessary resources to produce with flexibility

  manufacturing flow management
• this provides structural support for developing and maintaining good relationships

  suppliers relationship management