The Four Major Components of a Marketing Mix

When dealing with marketing, it is always important to keep in mind "The Four P's." The Four P's are recognized in marketing worldwide.

1. Product: It is essential that you provide the right "product" for you targeted market. The "product" can either be something physical or a service. The important thing to remember is that your good and/or service should satisfy your customer's needs.

2. Place: It is very important that once you have the right "product", you find the right "place" to sell it. A product isn't much good to a customer if it isn't available when and where it's wanted.

3. Promotion: Once you have the right "product" and the right "place" to sell it, you have to tell your targeted market about it. There are several different ways to go about "promoting" your product that include both promoting face-to-face and promoting through the masses.

4. Price: In addition to developing the right Product, Place, and Promotion, you must also decide the right "price." In order to come up with the price that best suites your product you have to consider your target market and how they might react to the price you have set.

All four P's are needed in a marketing mix. In fact, they should all be tied together evenly. But is any one more important than the others? Generally speaking, the answer is no - all contribute equally.

For this blog I have used information from the article "The Four Major Components of a Marketing Mix" by Mara Bateman.

Collaboration technology

At first I didn't quite know what was defined as "collaboration technology" and then I realized it's any sort of technology that allows collaboration between two or people. So how does this apply to classroom group work? I know I hate having to meet in the library twice a week with group members to work on a project. Email has been such a HUGE "collaboration technology" that has helped make group projects much easier and convenient for everyone. It is so easy to shoot an email to someone in you group to ask them a simple question that you would have other wise had to wait to ask them until you saw them. Things like GoogleDocs has also helped with group collaboration. It allows a group of people to all add to the same "Doc." It's a great way share information with your group without having to meet as frequently.

I also believe that even though there is much evil assigned to cell phones and texting, texting can be a very way to technologically collaborate with a group member. It's an even faster way to communicate with someone than email!

Effectively Presenting in classroom....

Giving a presentation in a classroom can be a dangerous situation if not properly prepared for. I found the discussion we had in class and the power point posted on blackboard on presenting in class to be very useful.
I find the two most important tips to preparing for an effective classroom presentation to be identifying your purpose and analyzing your audience.
1. Identify your purpose:
Decide what you want your audience to believe, remember, or do when you're finished.
-Do you want to inform them?
-Do you want to persuade them to some action?
Aim everything you say or do towards your purpose.
2. Analyze your audience:
While preparing your presentation you need to think about your audience.
-How many people will be in your audience?
-Why will they be there? by choice?
-What is the age of your audience?
-What will be the age, gender and demographics of your audience?

***I got this information from the power point "Speaking with Confidence" on Blackboard.

Working Business

I currently work at Select Satellite on 1400 N and 125 E here in Logan City. I have been working there for about five months now, and it has been a huge learning experience for me! I have learned a lot about having your own business because my boss does exactly that! He started his business about 10 years ago and has been working hard ever since! When I first started working there I was so overwhelmed by the endless list of things I had to learn. From day one I was left alone in the store, expected to basically fend for myself. I learned very quickly how important it is to take notes and write down what you're expected to know and do, remember to read your lists you make, and to actually do what you're asked.
Running a business is a lot of work, and it takes a lot of motivation. I have learned from my boss that when you own your own business you have to be extremely self motivated because there's no one else above you to tell you what to do. As a business owner, you have to remember to do all essential things. Continually "forgetting" to do things can substantially jeopardize your business.