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• Channel 1 Contains two stages between producer and consumer - a wholesaler and a retailer. A wholesaler typically buys and stores large quantities of several producers' goods and then breaks into bulk deliveries to supply retailers with smaller quantities. For small retailers with limited order quantities, the use of wholesalers makes economic sense.
• Channel 2 contains one intermediary. In consumer markets, this is typically a retailer. A retailer is a company that buys products from a manufacturer or wholesaler and sells them to end users or customers. In a sense, a retailer is an intermediary or middleman that customers use to get products from the manufacturers. 
• Channel 3 is called a "direct-marketing" channel, since it has no intermediary levels. In this case the manufacturer sells directly to customers.
• price is the value of money in exchange for a product or service.
• price is the amount or value that a customer gives up to enjoy the benefits of having or using a product or service.
• (1) a buyer is willing to pay, (2) a seller is willing to accept, and (3) the competition is allowing to be charged
• The Different Pricing Strategies and Its Definition Pricing Strategies  

  Penetration Pricing  

  Skimming Pricing  

  Competition Pricing  

  Product Line Pricing  

  Bundle Pricing  

  Premium Pricing  

  Psychological Pricing  

  Optional Pricing  

  Cost Plus Pricing  

  Cost Based Pricing  

  Value Based Pricing  
• Penetration Pricing  

  The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased. 
• Skimming Pricing  

  A company charges a higher price then slowly lowers the price to make the product available to a wider market because it has a considerable competitive advantage. However, the advantage tends not to be sustainable. The high price attracts new competitors into the market, and the price inevitably falls due to increased supply. 
• Competition Pricing  

  A pricing method in which a seller uses prices of competing products as a benchmark instead of considering own costs or the customer demand. In reality a firm has three options and these are to price lower, price the same or price higher than competitors 
• the most common medium in promoting a product and this is called promotional mix. 

   
• promotional mix includes: advertising, public relations, personal selling, sales promotion, and direct marketing
• forms of direct marketing: brochure, coupons, email, phone calls, text messages, post cards, newsletters, catalogs
• advertising includes: radio, television, print, electronic, word of mouth, and generic
• five stages of personal selling: prospecting, marking first contact, sales call, objection handling, and closing the sale
• sales promotion techniques: free gifts, free samples, free trial, customer contest, and special pricing
• Advertising by means of radio gives the advantage of selecting the territory and audience to which the message is to be directed.
• The print media carry their messages entirely through the visual mode. These media consist of newspapers, magazines and direct mail. 
• • Television This is the latest and the fast-developing medium of advertising and is getting increased popularity these days.
• Electronic You can also advertise electronically through your company website and provide important and pertinent information to clients and customers.
• Word-of-mouth advertising is important for every business, as each happy customer can steer dozens of new ones your way
• Contests offer the customer a chance to win prizes like cash or store merchandise. 
• Special pricing is used to offer consumers a lower price for a period of time or to purchase in multiple quantities. For example, a retailer may offer a product that normally costs 35 pesos at a price of 3-for-100-pesos during the promotional period. 

   
• Your team, the staff that makes it happen for you, your audience, and your advertisers are the people in marketing
• people consist of each person who is involved in the product or service whether directly or indirectly. 
• People are the ultimate marketing strategy
• People are one of the most important elements of the marketing mix today.
• The people rendering the service must be competent and skilled enough so that that the clients will patronize your service.
• Packaging is a silent hero in the marketing world.
• Packaging refers to the outside appearance of a product and how it is presented to the customers.
• packaging is for protection, containment, information, utility of use and promotion. 

   
• Symbolic Positions deal with selfimage enhancement, ego identification, belongingness, social meaningfulness and affective fulfilment
• Functional Positions deal with solving a problem, providing benefits and getting a favorable perception from investors, stockholders and consumers.
• Experiential Positions deal with providing sensory or cognitive stimulation.
• When a company presents a product or service in a way that is different from the competitors, they are said to be “positioning” it.
• Positioning refers to a process used by marketers to create an image in the minds of a target market.