CREATIVE NONFIC SEMIS

• 7P’s of Marketing Mix


  It is a set of controllable and interrelated variables composed of product, place, price and promotions that a company assembles to satisfy a target group better than its competitor.
• Product


  being sold through retail channels today.
• Product


  An item that is built or produced to satisfy the needs of a certain group of people.
• Product


  It can be intangible or tangible as it can be in the form of services or goods.
• Goods


  It is a tangible product.
• Goods


  It’s example includes tires, MP3 players, clothing and etc
• Services


  Intangible
• Services


  Its example includes hair salons and accounting firms.
• Price


  the amount that a customer pays for to enjoy it.
• People


  responsible for every element of your sales, marketing strategies, and activities.
• Packaging


  the way your product or service appears from the outside.
• Promotion


  It creates awareness in the market. It refers to the complete set of activities, which communicate the product, brand or service to the user.
• Place


  where your product or service is actually sold.
• Distribution channel


  It represents the location where the buyer and   seller exchange goods or services.
• Distribution Channel


  It can include any physical store as well as virtual stores or online shops on the Internet.
• Consumer goods


  may not have thorough knowledge of the goods he buys and uses.
• Factors would change in the distribution channel if there will be no Intermediary like producer and Consumer


  Nothing will take place, since it has no intermediary levels. In this case the manufacturer cannot sell to customers.
• Factors would change in the distribution channel if there will be no Intermediary like producer and Consumer


  Direct-marketing will take place, since it has no intermediary levels in this case the manufacturer sells directly to customers.
• Factors would change in the distribution channel if there will be no Intermediary like producer and Consumer


  The company will utilize Technology to reach the customers.
• Positioning


  the place occupied by products in the heart and minds of the consumers.
• 4M’s of Production

  Machine, Manpower, Method, Materials
• Manpower


  refers to the human workforce involved in the manufacture of products.
• Machine


  refers to the manufacturing equipment used in the production of goods or delivery of services.
• Method


  refers to the process or technique of converting raw materials to finished products.
• Materials


  refers to the raw materials needed in the production of a product.
• Output


  It represents the final products from the production process and distributed to the customers.
• Revenue


  a result when sales exceed the cost to produce goods or render the services.
• Sales


  is used especially when the nature of business is merchandising or retail.
• Service Income


  used to record revenues earned by rendering services.
• Mark up


  refers to the amount added to the cost to come up with the selling price.
• Formula of Selling Price


  Cost + Mark Up
• Formula of Mark Up


  Cost x desired mark up percentage
• Forecast


  Is an advance information that could help us prepare and ready for any incoming event.
• Profit


  refers to the amount you gain after selling your product.
• Profit is determined by: 


  -the money you get from the sales

  -the cost of stock – if you're selling a product

  -all the expenses you incurred
• Sales & Gross profit


  Income earned by the business
• Business Expenses


  Commissions, discounts, fixed expense
• Cost


  refers to the purchase price of the product including of the product including the total outlay required in producing it.
• Gross profit


  represents the difference between net sales and cost of sales.
• Variable cost


  those things that change based on the amount of product being made and are incurred as a direct result of producing the product.