1 idea PRODUCT PRICE
2 concepts and design PRODUCT PRICE
3 making a prototype and testing PRODUCT PRICE
4 make a draft product PRODUCT
5 test the draft product PRODUCT PROMOTION PRICE
6 change the product to be better PRODUCT
7 repeat until a solid product PRODUCT PROMOTION
8 make enough product (interchangeable) PRODUCT
9 find places to stock product (interchangable) PROMOTION PLACE
10 PROFIT?????
Price
Product
Promotion
Place
This is called the Marketing mix
PRODUCT: variety, options, service, warranty, quality, features
PRICE; discounts, finance, payment period, list price, mark up
PLACE distribution, coverage, transport, inventory
PROMOTION; digital marketing,sales, direct marketing, advertising