Assignment 3

Why is marketing dynamic?

Marketing dynamics means the factors that can effect a market. By Looking at the theory of economics they would be supply, demand, price, and other specific terms relating to this. From a business standpoint of view, marketing dynamics are the factors that effect the business model. Successful businesses understand the need to continuously improve their business processes so we can be more efficient and productive to respond to market changes faster while providing better service to customers.

Describe each of the 4p’s

Product

A product is anything that can be bought or sold. Product include goods, services, and ideas. A good is a physical example item, something that you cant touch/ examples of goods include jeans, snacks, and cellphones.

Place

Place involves making products available for customers. Place includes decisions about where to locate stores and the decisions relayed to retailing. For example, place is where you can buy products from such as IKEA or Costco.

Price

Price is the amount of money requested or exchanged for a product. Setting the best price is important for business success and customer satisfaction. For example, the prices of clothing, brands, and window blinds.

Promotion is the process of telling people about the product and the company that offers it. For example, the Superbowl commercials were promoting their products worldwide.

Describe the difference among goods, services, and ideas Give an example of each of the three different kinds of products Give an example of each of the three different kinds of products

Goods are physical objects that a person can purchase an example of this is clothing and food. Service is an activity of performing work for others.  For example, the army is providing us service to protect our country. Furthermore, ideas basically mean brainstorming something and than such as promoting a product as in the Superbowl commercial.

Can one store or business sell all three types of products? Name a store or business and give an example of each type of product that it sells?

Yes one store can sell all three types of products such as a windows blinds company. A windows blinds company sells its goods to help protect you from sunlight coming into your home and from people not looking into your house. A blinds service helps one perform work and to install the blind properly and effectively into the house. Furthermore, ideas can be brought in for like what blind do you want to use, what style of blind that you want or what way one would want to put a blind in their home.

Look at figure 1-9. Why is the target market at the centre of the diagram?

The target market is at the center of the diagram because it needs to include all the qualities with in such as Price, Product, Place, and Promotion to outcome all your values demonstrating of how you should know always what to be targeting on.

3. Organizations such as student council. student career organizations, and sports teams use marketing. Choose an organization with which you are familiar. Give an example of the Four Ps for that organization.

Student Council is a type of organization that runs in the school. The product of student Council is to sell out their items and bring out volunteer helpers to help them out. The place for Student council takes place in a classroom in the third floor where they talk about how to improve the school, raise charities and more. Promotion is where Student Council can get promoted to executive,it can also mean that you are trying people to buy food such as how we sell pizza sometimes at lunch when the cafe is close and other stuff relating to this. Price can be determine in Student Council where when they are selling items such for charity. An example of this can be how we raise enough money for families in the winter who need the money to benefit their lives even more.

Think about your life after high school. How might marketing affect your future? Give three examples.

Marketing affects all aspects of our life and has a great impact for one’s behavior. Every day we use products from advertising: from buying food items and other important values items for us human beings. Marketing forms the consumers buying decisions. Marketing provides a lot of people with work and helps to improve yourself. Marketing can also affect my future by looking at products and goods in different ways to see if a product is worth buying for and carries out all the necessary details for it. Another example of how marketing might affect ones future is where a company political and regulatory environment. Marketing can also impact on the decisions one makes such as supply and demand. Furthermore, marketing affects all aspects of our life and has a great impact for one’s behavior.

Find the website for the Canadian Marketing Association (CMA). Find out what the organization does. What kind of information can you get from this website?

The CMA organization Marketing is a tactical well developed business success. The CMA can help one grow their business, increase your team’s marketing knowledge, power, improve knowledge of business as well as marketing, and much more. In this CMA website you can basically find everything about Marketing and promoting ones business, professional development, public affairs, benefits of marketing, and many other important aspects of Canadian Marketing.