Professional Documents
Culture Documents
The Market
The Market
The Market
a. Supply __C____Expensive
b. Demand ____D___Desire to buy any product
c. High Price ____B___All people
d. Mass market ____E____The lifetime of goods and services.
e. Life cycle ____A_____Disposition to offer products
1. Tastes or preferences
Consumers may demand for an item one year and ignore it the next.
2. Number of consumers
A large quantity of buyers carries to an increase in demand; a small quantity of buyers
carries to a decrease (Franny Chan website).
3. Income
When income rises, the quantity demanded will rise too. When income falls, the
demand of that product will fall too (Franny Chan website).
4. Consumer expectations
Purchasers are interested in satisfying their consumption regarding quality as the most
important factor. Likewise, the lead price has an effect on the potential increase of the
consumer ́s final decision.
1. PLANNING
2. ANALYSIS
3. INTEGRATION
4. ACTION
It refers to the action plans necessary to achieve the objetives decided in step 3.
SUPPLY: it is related to the ability and disposition of producers to offer products for sale
PRODUCT: It ́s the tangible object or service that can be offered to a market for
acquisition, use or consumption that might satisfy a want or need.
PRICE: It ́s is the amount a customer pays for the product. it includes Retail
price/wholesale, discounts, quantity discounts, credit terms, sales and payment periods.
PLACE: It represents the location where a product or service can be purchased and the
distribution channel. coverage, assortments, locations, inventory and transportation of the
product or service.
PROMOTION: This refers to all of the communications that a company uses to increase
knowledge about the product or service in addition to persuade the consumer to purchase
(target segment).
PASSION: Emotion, feelings. The emotions as distinguished from reason, a strong taste
or devotion for some activity.
PARTNER: The legal relationship between two parties, having specific rights and
responsibilities as a common company.
PLANNING: To transform and develop marketing objectives to marketing strategies.
BENCHMARKING: is the procedure of determining who the best one is. It is an amount
of the quality of company’s products, policies, programs, tactics, etc., and their contrast
with standard measurements, or similar amounts of others.
PLANNING: It is the plan for running the benchmarking investigation.
INTEGRATION: Develop aims and incorporate them into the benchmarked process.
ACTION: It refers to the action plans necessary to achieve the objetives decided in step3.
PAYMENT SYSTEMS: It is used for transferring money include debit cards, credit
cards, and e-commerce payment systems.