Objectives I will be able to tell what the importance of product identification is. I will be able to explain how to decide where to sell products. I.

Objectives I will be able to tell what the importance of product identification is. I will be able to explain how to decide where to sell products. I will be able to list the four types of promotion.

1) Product determining what services to offer with the product, how to package it, and what kind of product identification to use. Take a few minutes and think of your own cereal. How will people identify your cereal as they walk down the aisle at the grocery store?

2) Price How much will you charge for your product/service? Price leadership setting your prices close to your competitor w/a similar product. Penetration pricing setting a low price to attract customers away from established companies. Now determine what price you will set for your cereal.

3) Place where will a product be sold. mail, phone, stores, internet, etc. Decide where you are going to sell your cereal. What stores will carry it? What shelf will it be located on?

4) Promotion use of advertising to inform consumers that your product is out there. Come up with a game plan on how you will advertise your cereal.

A series of stages from first introduction to complete withdrawal from the market. 1. Introduction of product 2. Growth 3. Maturity 4. Decline Understanding the different stages of a products life cycle is key to knowing what type of marketing should be done with that particular product.

Objectives I will be able to tell what the importance of product identification is. I will be able to explain how to decide where to sell products. I.

Documents

introduction of product

particular product

kind of product identification

competitor wa similar

low price

price leadership

different stages

series of stages