Business Technology

Mr. Bernstein

DECA, pp 16-20:Determine What To Buy

(…or What To Offer!)

September 19, 2013

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Business TechnologyMr. Bernstein

Marketing MixProduct StrategyPricing StrategyPlace StrategyPromotion Strategy

The Four P’s!

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Business TechnologyMr. Bernstein

4 P’s:

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Business TechnologyMr. Bernstein

ProductWhat will your Target Market buy?Is your product quality competitive with customer

alternatives?Does branding affect perceptions of quality?

PricingCosts and ExpensesCompetitionSupply and Demand – Economic Conditions, Inventory

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Business TechnologyMr. Bernstein

PlaceHOW and WHERE products are offered or

distributedWhat is your competitors’ distribution method?Does branding affect perceptions of quality?

PromotionAdvertisingPromotional campaigns

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Business TechnologyMr. Bernstein

Gathering InformationSurveysObserve Competition“Want slip” or similar system – records unmet needsTrade Shows and Conventions