Marketing and Production Essentials for Businesses
Marketing and Production Essentials
Positioning defines the features you want the consumer to perceive in a product or brand name. It allows comparison between brands to identify what is most appealing.
Marketing is a set of activities designed to satisfy consumer needs and provide a benefit to the company.
Marketing Goals
- Meeting consumer needs: Strategic marketing involves activities to meet consumer needs and gain a competitive advantage.
- Profits for the company: Operational marketing uses activities to develop a specific short-term sales strategy, implementing the provisions of strategic marketing.
Marketing Mix Elements
- Product: Any good or service offered to meet needs.
- Price: The monetary amount paid by the buyer for the product.
- Communication: Efforts to communicate the existence of the product.
- Distribution: Activities that allow the product to reach the consumer.
Product Attributes
- Design: Features for easier, comfortable, and safe use.
- Quality: Features that make it more or less suitable for its purpose.
- Quantity: The content of the product per unit sold.
- Package: Protects the product during transportation.
- Brand: A name, sign, or design that distinguishes the product.
- Options: Characteristics the buyer can obtain optionally.
- Warranty Period: The time during which the selling company is responsible for the proper functioning of the product.
- After-Sales Service: Activities aimed at customer satisfaction after the purchase.
- Expiration: Period after which the product is no longer fit for purpose.
Production Fundamentals
The production function of a company transforms raw materials into products using production factors and specific technology.
Average productivity is the relationship between the output obtained and the amount of factors used for a period.
Cleaner Production aims to reduce risks to humans and the environment. It includes product design, processing, the type of energy used, and the recycling of materials after their useful life.
Product quality is the set of features that establish its suitability for its intended use.
Technology is the set of procedures used to produce a good or service.
Research, Development, and Innovation
- Research: Increasing knowledge, which in principle is not bound to obtain a certain result.
- Development: Tasks carried out from research and experience to develop or improve products or services.
- Innovation: Conversion of knowledge into products, materials, or services entering the market, or to improve production processes.
Stocks are raw materials, unfinished products, and finished goods at any given time.
An inventory of materials is a valued relationship of the elements of a company’s stocks at any given time.
A store card is a document that records the entrances and exits of materials in the warehouse with the appropriate rating.
The cost of producing goods or services is the sum of the costs of raw materials, consumables, and other inputs required for processing.
The market consists of buyers and sellers of a product.
The consumer is the person who uses goods and services.