Marketing PrinciplesProduct Individual goods, product lines, or services.

... Marketing Principles Product Individual goods, product lines, or services. Strategy: This is obviously the most important part of any business. In order for a product or service to succeed, it must offer clear, distinct and non-arguable value to the buyer. Supply and demand are the judge and jury. Tactics: Includes features, accessories, installation, instructions, service, warranty, packaging, and brand names. Place (Distribution Channels) Getting the product or service to the customer. Strategy: The saying - location, location, location holds true for new products more so than any other type of product. If consumers don't know your product exists - how can they buy it? Tactics: Channels, distribution systems, middlemen, warehousing, transportation, fulfilment, and shipping. Price Strategy: Price meets it own demand. Price points are a function of the degree of innovation found in the product. The more innovation and thus value added, the more latitude you have in setting a price. Tactics: Setting a

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