5 P's of Marketing



  The five P's of marketing are Price, Promotion, Place, Price, and People. I think People is the most important part of marketing, because without people there wouldn't be a need to advertise of try promote things, and try to convince them that your product is the best. And i also think people kind of make the other 4 P's happen, like people determine price, place,product,and how that business choose to promote his/her item.

What is a Business plan ...in my own words

  To a business, a business plan is series of Steps that leads to the business Success. The business plan provides Guidelines that make it Easy for a business to stay Organized and have Structure within the business. These Rules allow the business to create a Formula that helps Guides them so they can Limit Mistakes. The business plan serves as a Foundation for the business to Achieve Goals and Flow to success. The Understanding of this Format Prepares the business for plans in the future. Once the the business takes these Orders the Readiness of their Achievements can take them beyond.

  The one types of pricing policies are flexible-price policy which is charging customers different prices for the same product or same quantity of products(black i pod v.s white i pod), and the other one is  one-price policy which all the grocery stores use when they don't have sales.

  The six pricing techniques are : 1. promotional pricing (as seen on t.v deals) 2. multiple pricing (Kroger's 10 for $10 sales) 3. prestige pricing (Lexus) 4. price lining (jeans) 5. odd/even pricing ($29.99) 6. Bundle pricing (computer).
 



Factors that Affect Price

     Above in the image I listed the 6 factors that affected Price and I think that Competitors affect price the least because I feel if you keep good customer service and keep your store clean and tidy you will when the interest of those customers.
    I feel like supply and demand affect price the most because when it comes to picking a price for a select item you have to really think about how much the customers really want/need this product, and you also have to look at do you have the right resources to consistley keep getting the product.

My Black History Project

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Layout planning and Site selection Project

Alexis hawkins ppt

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Chapter 8 Reflection Blog

    In chapter 8, I learned a lot of valuable material that will help me in later life. I now understand why businesses/people get patents, copyrights, and trademarks. Patents are used to protect your ideas, while copyrights protect your inventions (music, books, etc), and businesses get trademarks so nobody can steal their logo/slogan. I also leaned about the laws that protect employees. Wrongful termination, firing somebody for the wrong reasons. Child labor law, having a child under the age of 16 work. Those are just a few I learned much more in dept. We also discuss the laws that affect the start- up of a business, license/permit, contracts, and location. Also in this chapter we were introduced to several  entrepreneurs. This information was much needed for those of us who really want to be a entrepreneur, because when you have people under you, you have to make sure you follow all the laws so that you or your business can't be sued.

The Big Idea Series #1

    All the entrepreneurs in this series all shared a common goal. That goal was whatever you had in mind just go out and make something of it. None of these entrepreneurs were scared to give their idea(s) a chance and all of them ended up successful in the long run. to me I considered all of them still young even though some were younger than others. they also made a lot of money off of their first successful business.
   
   A disadvantage of being a young entrepreneur is when your young you have  a lot more people stay your not going to make it. And i think when your young that kind of talk can bring you down. Also being young you really don't have much of a support system except for your parents.

  I found Cameron Johnson story more interesting then the others, because he started his first business when he was 5 years old and that's very young. I also found how he got his ideas kind of interesting because he got them by trying figure out his own problem. And he seemed to always have new ideas like everyday. He was also smart. He knew what worked for him and what didn't, so his story was more interesting to me.

   I think Cameron Johnson and Ryan Blair will have much more years in their business just because the fact they both run online businesses. and to me people won't find another thing better than the Internet as of right now.