1. marketing means the movement of goods and services from manufacturer to customer in order to satisfy the customer and to achieve the company’s objectives.
2. the four main elements of marketing is product, price, placement and promotion. Each one plays vital role in the success or failure of the marketing operation.
3. the involved the product element of marketing is product element of marketing refers to the good or service that the company wants to sell. This often involves research and development (R&D) of a new product, research of the potential market, testing of the product to insure quality, and then introduction to the market.
4. the three pricing options the company may take: above, with or below the prices that its competitors are charging.
The producers who establish these prices are known as price leaders.