Essay Business Is Customer

1187 Words Mar 19th, 2015 5 Pages
Business Is Customer

Abstract-Marketing your business is about how you position it to satisfy your market’s needs. There are four critical elements in marketing your products and business. They are the four P’s of marketing. 1. Product-The right product to satisfy the needs of your target customer. 2. Price-The right product offered at the right price. 3. Place- The right product at the right price available in the right place to be bought by customers. 4. Promotion- Informing potential customers of the availability of the product, its price and its place. Each of the four P’s is a variable you control in creating the marketing that will attract customers to your business. Your marketing should be something you pay careful attention
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So we started customer research and finally came to conclusion that what we have intended to make has huge market in south. So accordingly we started our first product “rumpus(jump suit)” for infants. Finally our product fits strengths and weaknesses in our business. Our business was very good at timely response to customers because of the service we provided.
“Price” refers to how much you charge for your product or service. Deciding our product price was tricky. Because market was huge. Every city had different type of customer. To finalized price we took several things into consideration like customer demand & the competitive environment. After deciding price we maintained several policies that were proportional to price like discount, payment period, allowance, Price flexibility, Price differences among geographic areas, Credit terms. We are very strict at discount policy. Normally we don’t give discount. But for cream customer we have made certain changes in policy. While our credit terms are fixed, we normally deduct discount for a customer who pays late. Price of some product also varies according to season. Price also gets affected due to market environment. For e.g. In our business if base material get affected like cotton then whole process get affected and finally we need to increase our product price. By considering several factors we conclude price for particular design of product.
“Place”

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