Chapter 10 Marketing
Introduction:
Marketing can involve many different techniques catch fraises being one of the e.g. “oh whata feeling Toyota!” is a very well known catch fraises
The average consumer is exposed to an estimated 500 marketing strategies per day. The main form of these however would be from promotion.
Marketing is essential to a business for just because some one has an innovative product doesn’t mean that it will sell. It needs marketing to promote the item and make the consumer feel that they must have it.
Statistics say that a new product has 70% chance of failure in the first year. It doesn’t matter if your product which you intend to sell is insignificant and holds no purpose; if it is well marketed it could be the next major seller.
The Marketing Concept:
Marketing despite what people think doesn’t mean fancy word for selling in fact marketing doesn’t the current view of marketing doesn’t have to involve the selling of a product.
What is marketing? 
Marketing is the process of planning and executing the pricing, place of sale, promotion, etc.
Marketing 
	-involves a wide range of activities 
	-is directed wide by both ideas and products.
	-stresses the importance of satisfying exchange.
	-is not limited to the activities of a business.
Marketing involves 
	-gathering market information		-exchanging something of value
	-selling					-satisfying people
	-distribution				-disseminating information
	-promotion and advertising		-forecasting sales
	-calculating prices			-serving customers
	-understanding the product
Some times selling and marketing are used synonymously where the two words are majorly different. Where selling is merely getting rid of an existing product. Where successful marketing is bringing the buyer and seller together and making a sale.	
Small businesses and marketing:
Many small business owners see that marketing is not for them. They seem to have to much faith in their product and rely on it to much. Many small businesses think that marketing is only for larger scale businesses.
A business regardless of size need to do marketing otherwise how will consumers be informed of there product.
The marketing plan:
Marketing plan is simple. Visualise it as a road map then the marketing plan has signs showing which direction to take.
The marketing plan should contain all aspects of the business and there should be a market plan on stand by showing what the plan would be if the economy was to decline.
Role of marketing:
Marketers today base a strong emphasis on looking threw the customers eyes. A market focused business will create a product consumers want
Mass marketing approach: 
Mass market approach is the high demand, distribution and manufacture of a good or service. For example Holden mass produce there commodore for a mass market of people and their business plan is for a mass amount of sales.
Market Segmentation approach:  
Market segmentation approach is the opposite of the mass marketing approach. They create the product for individual demands. This is also known as the concentrated market.
Marketing mix aka 4 P’s:
Marketing mix or the four P’s consists of Product, Promotion, Price, Place. These factors are important in marketing.
	Product consists of
		-quality				-packaging
		-design				-labelling
		-name				-exclusive features
		-warranty and guarantee
	Promotion consists of
-personal selling; a sales assistance informing the customer on the products function and what is special about the particular item that will make that customer want to buy it.
-sales promotion; promoting your good to the customer, informing and making them want to buy it. This can be done threw samples endorsements etc.
-publicity; getting the name of your product out to the public, news paper report on your item is good publicity and is likely to improve sales.
-advertising; is used to attract potential buyers to your good.
	Price consists of
-	Calculating the cost of the product.
-	Price according to the quality, the demand and the price bracket customers are willing to pay.
-	Choosing a price that is equal to below or above your competitors.
-	Discounting un wanted items to increase the demand.

Place consists of
Businesses have to decide where to sell their product weather being in a whole sale wear house or in a retail outlet. They also have to chose how many intermediaries to involve for the more there is the wider the range of the sales.