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5 P C O
2014
PORTFOLIO Commercial and Marketing
Ingrid Soto
2
Commercial 3
Pictionary 4
Letters 9
Request Letters 10
Inquiries 10
Orders 16
Replies 20
Order Acknowledgments 21
Delay Delivery 24
Partial Delivery 26
Marketing 29
Pictionary 30
Quality 38
Companies’ Low Qualities 40
A Hotel Chain in Trouble Mail 41
Products 42
Marketing 43
INDEX
3
COMMERCIAL
4
Pic
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5
PICTIONARY # 1
WORD DEFINITION EXAMPLE PICTURE
Applicable
Being appropriate or relevant; able to be
applied.
Even the Guatemalan
Constitution was written 150 years ago, most of the articles are still
applicable in this year.
Closure The state of being
closed.
As closure of our German classes of
2 years, my friends and I
decided going to celebrate it to
Fiesta Mexicana.
Discount
To reduce the regular price or cost by a
stated percentage or amount.
My parents negotiated a
discount for my school new
supplies with the library which works for my
dad´s company.
Fiscal Financial
Guatemala is a poor country no because the lack of fiscal policy, it
is because the governors´ corruption.
6
Motivate To give incentive
to.
What motivates me to get good grades, is all the effort my mom
does for taking me ahead.
Potential Possible but not yet
actual.
Actual potential buyers are looking for products with excellent quality,
no matter its price.
Recipient The one who
receives.
The recipient of the Nobel Prize of
1971 was Pablo Neruda.
Weather Vane
A device for showing wind
direction.
The INSIVUMEH has a lot of
weather vanes so they could be sure
where the wind direction is during days, months and
years.
7
PICTIONARY # 2
WORD DEFINITION EXAMPLE PICTURE
Dispatch A message.
An employee always has to be in
constant communication with the boss by
sending him dispatches every
day.
Divulge To reveal or disclose.
In an office it is essential to divulge to your immediate boss any damage
you see in the furniture and equipment.
Salvage To save from destruction.
A company’s sales manager is
responsible to try to salvage the
relationship with unhappy
customers.
Savvy Insight,
understanding
In a company bosses must have savvy with their subordinates to maintain a good
internal environment.
8
Superfluous Extra, more than
necessary.
In a company after some years, it
should eliminate information from the internal file
that deems superfluous to be
updated.
Unsolicited Unrequested
The recipients of request letters
might send unsolicited help
and information to motivate future
sales.
9
Lett
ers
10
There are many reasons for writing a request letter:
To obtain information (such as prices or technical data)
To receive printed matter (such as booklets or catalogs)
To receive samples products
To order merchandise
To engage services
To make reservations
To seek special favors (such as permission, assistance or advice)
All requests should:
Be specific and brief.
Be reasonable.
Provide complete, accurate information.
Courteous
Easy to answer
They are divided into two:
Inquiries An inquiry must be easy to answer. Inquiries are important for readers because
maybe you will become a future customer and answering it could build goodwill
toward the business.
You should include the specific questions and information that you need as well as
the specific action you would like your reader to take. Also, by mentioning the
reason for your inquiry, you motivate her to respond. When a request doesn’t
involve a future sale, you should:
List the specific facts you want.
Suggest a way in which you can reciprocate.
Inquiries can be written for quotations, information or special favor.
Request Letters
11
Mahoney and Millman, Inc. 1951 Benson Street
Bronx, Ney York 10465
January 22, 2014
RMB Manufacturing Company, Inc. 402234 Ninth Avenue New York, New York 10055 Dear Sir or Madam:
I have decided to purchase three microwave ovens for our employee cafeteria. Therefore, I would appreciate it if you could send me information about two options which you consider more appropriate for our needs. Our cafeteria is visited daily from Monday to Saturday by approximately 530n employees. Ten cafeteria staff members are responsible of serving and heating three meals per day. Since they will be used often I would like to purchase an energy-saving model. Please send me the information before February 10. The suggested models must include a five-year warranty, be ready for immediate purchase and have a price range of $150-225. Please let me know if you need further information.
Sincerely yours,
Ingrid Soto Sales Manager
Santizo M.
12
Am-Lux Company, Inc.
529 Eaton Avenue
Bethlehem, Pennsylvania 18115
January 29, 2014
Ms. Louisa Sanchez
High Commission
705 Tenth Avenue
New York, New York 1077
Dear Ms. Sanchez:
I recently read an article written by you entitled “From Lead to Deal: Ten Over-
Looked Steps to Closure” in High Commission magazine. I believe it would be useful for
the salespeople in my department.
I would like to request your permission to make 25 copies of your article for
circulation only within our company. I am certain that my staff will be highly motivated to
apply all your knowledge presented in the article.
I have been reading all your financial articles and we are planning to purchase your
magazine on a regular basis because we consider it very useful.
Sincerely yours,
Lucrecia Ruiz
Sales Supervisor
Soto I.
13
RBM MANUFACTURING COMPANY, INC 4022 Ninth Avenue
New York, New York 10055
January 29, 2014
Ms. Wilda Stewart Stewart and Stewart CPA’S 466 Main Street Eugene, Oregon Dear Ms Stewart: I recently met you at the seminar of January 17, on the new Federal Tax Law. I was impressed on your high level of financial knowledge. It is my responsibility to write a report about the year-end-tax- saving measure that can be taken within the company. It would be useful for me to have your opinion on:
Deferring income
Accelerating Deduction
Year-end Expenditures Since I have to present my final report on February 17, I would appreciate it if you could send me the information as soon as possible. I will be sure to send you a revised copy on February 20.
Sincerely yours,
Ingrid González Assistant Finance Management Soto M.
14
Harrisburg Civic Association
4022 Ninth Avenue Harrisburg, Pennsylvania 45678
February 5, 2014
Ms. Margaret Belmont Harrisburg City Hall 21 West Main Street Harrisburg, Pennsylvania 45677 Dear Ms. Belmont: As the chairperson of the Harrisburg Civic Association, it is an honor to receive you as the spoke person in our monthly meeting. I believe your knowledge would be very useful for the neighborhood development. We would appreciate it if you could address the members on a topic of general interest. Meetings are held at 7:30 P.M. in the basement meeting room of the community center, which is attended by approximately 75 community-minded people and the lecture segment usually lasts about one hour. Please let us know your decision before March 15. Feel free to come any second Wednesday of every month. I will be sure to send you a photo gallery of the pictures that would be taken that day.
Truly yours,
Ingrid Soto Program Chairperson
Santizo M.
15
21 West Main Street Cachecton, New York 11223 January 24, 2014 Mr. Victor Castellanos Pets “R” Us 399 West Ninth Street Callicoon, New York 11203 Dear Mr. Castellanos: I have decided to purchase a female puppy for our little daughter. Therefore, I would appreciate it if you could send me information about three breeds of dogs which you consider more appropriate for our needs. We live in a house of 4 rooms with a big backyard; however we tend to travel often. Our daughter is a six-year-old playful girl. Since we are an energetic family, my husband and I would like an athletic and not aggressive with little kids dog, which could adapt to different climates. Please send me the information and photos before February 14. The suggested pets must include all the needed vaccines and have a price range of $400-550. Please let me know if you need further information. Sincerely yours, Ingrid Soto
16
Orders
Companies use different forms for ordering merchandise or service. The may use
their own, called a purchase order, one provided by the seller, called an order form
or in a letter format. The letter must include COMPLETE, ACCURATE
INFORMATION. Every order should include:
The name of the item being ordered
The item’s number (catalog number, style number, model number, etc.)
Quantity desired
Description (size, weight, color, material, extra features)
Unit price
Applicable discounts
Applicable sales tax
Total price
Method od payment (such as charge account, including the account
number, c.o.d., check)
Desired delivery date
Method of shipment (such as parcel post or air express)
Delivery address
If your order is in response to an advertisement, you should mention its source. It
is not necessary to mention a reason for an order.
17
Mahoney and Millman, Inc. 1951 Benson Street
Bronx, Ney York 10465
January 28, 2014
RMB Manufacturing Company, Inc. 402234 Ninth Avenue New York, New York 10055 Dear Sir or Madam:
I would like to order the following merchandise for our pre-Christmas selling season:
QUANTITY ITEM
DESCRIPTION UNIT PRICE
TOTAL PRICES
24 Baby Jenny Dolls $10 $240
12 Baby Jenny Layette Sets 15 180
36 18-inch Tootsie-Wootsie 7 252
T O T A L $672
I would like to purchase these products on account (No. 4321-8) and have them shipped
by air express to the above address. I would appreciate it if you could send us special
Christmas displays for this merchandise.
Truly yours,
Ingrid Soto Sales Manager
Santizo M.
18
BEAUTY DEPOT, INC.
250 Commonwealth Avenue Miami, Florida 02118
February 12, 2014
Ms. Giselle Paz L’Oreal, Inc. 94 State Road Miami, Florida 02118 Dear Ms. Paz: We have seen your L´BEL catalogue C-02 for Guatemala on February 2, and we would like to order the following merchandise:
Quantity Item Code Unit Price Total Price
10 Mascara Megacils
Extend 00580 Q94 Q 940
15 Lipstick Divine Lip
Gloss 11168 Q74 Q1, 125
10 Performance Abdo
Contractesse Cream
26641 Q189 Q1, 890
20 Essencial Makeup Remover Lotion
15827 Q84
Q1, 680
We would like the products sent to the above address by “FEDEX”, before February 14, and charged to our VISA account (No. 003-0971). We would appreciate it if you could send us special Valentine’s Day displays for this merchandise.
Ingrid Soto
Purchasing Manager
Cifuentes S.
Q5, 635
19
OFFICE DEPOT, INC. 1267 Hollywood Boulevard
Paramus, New Jersey 70521
February 18, 2014
Mr. Charlie Edison CKC, Inc. 2019 Logan Street Paramus, New Jersey 70622 Dear Mr. Edison: I have read your publication of February 2 in Office Workers’ Weekly, and I would like to purchase one of your save precious desk space copy stand, which comes with copy clip and magnetic line guide. We would like the products sent to the above address and charge $24 plus $2.95, of sales taxes and handling, to our VISA account (No. 4551-0023). I would appreciate it if you could send me the warranties prove.
. Sincerely yours,
Ingrid Soto Manager
Gomez M
20
There are many types of replies:
1. Order Acknowledgments
a. Delayed Delivery
b. Partial Delivery
c. Substitute Delivery
2. Acknowledgments
3. Follow-ups
4. Confirmations
5. Remittances
6. Stopgap Letters
7. Inquiry Replies
8. Referrals
9. Refusals
Reply is a good sales opportunity; worded letter can lead to both profits and goodwill. A
request is similar to a reply. It should be SPECIFIC and COMPLETE. However, it is not
necessary for a reply to be brief, because it must be both helpful and sales oriented. A
reply must be PROMPT.
A response should go a little further than the original request. An extra bit of information
or unsolicited help can turn an inquirer into a steady customer.
Replies Letters
21
Order Acknowledgments Some companies respond to orders by immediately sending an invoice, and some
use printed acknowledgment forms. The confirmation of an order helps to
establish goodwill by reassuring the customer that the order has being received.
The initial order from a new customer SHOULD be acknowledged. It welcomes the
new customer and encourages further business.
The order acknowledgment should:
Mentions the date of the order.
Includes the order or invoice number.
Explains the date and order method of shipment.
Acknowledges the method of payment.
22
Cape Cod Ornaments, Inc.
94 State Road
West Yarmouth, Massachusetts 02757
February 15, 2014
Ms. Jessica Smith
250 Commonwealth Avenue
Boston, Massachusetts 02118
Dear Ms. Smith:
On February 14, we received your letter in which you ordered a Model EPC-18” copper, eagle
weather vane with arrow.
As requested, we will send it to your home address by parcel post and charge the $34.95 with any
applicable sales tax and handling costs to your VISA account (No. 003 00971 A109).
Enclosed you will find the invoice for the amount of $37.45 which is the total of the weather vane
including applicable sales tax and handling costs. Additionally, you will find a catalogue containing
our latest products and sales. We hope to hear from you soon.
Sincerely yours,
Ingrid Ruiz
Sales Manager
Rodríguez L.
Enc.
23
Kinbote Products, Inc. 200 Southeast Fourth Street
Miami, Florida 33131
February 27, 2014
Ms. Ellen Minsky Gold’s Specialty Shops 3636 West Grace Street Tampa, Florida 33607 Dear Ms. Minsky: On February 25, we received your order letter in which you request us to send you two dozen exercise suits (Style L-29) in the following assortment of sizes and colors:
COLOR SIZE
PETITE SMALL MEDIUM LARGE
Vanilla 3 3 4 2
Chocolate 2 4 4 2
As you requested, your order (No. 6299) will be sent to the above address by air express on February 28, expected to arrive on February 29. We will charge the $35 per suit to your VISA account (No. 882GSS). Enclosed you will find the invoice for the amount of $846, which includes shipment expenses. Additionally, you will find the catalogue of our latest season products. Feel free to call me at 2345-6798 if you need further information.
Sincerely yours,
Ingrid Soto Purchasing Manager
Minera I. Enc.
24
a. Delayed Delivery Sometimes a delay delivery is caused by the seller. When it occurs the
costumer deserves an explanation. It should express that you understand
the customer’s disappointment and regret the inconvenience.
It could be written following this order:
o P.1: Acknowledgment (explanation of the delay).
o P.2: Solution mentioned (assuring customers of speed delivery).
o P.3: Suggested solution, generate goodwill and mention benefits of
our products.
25
Lawson Linen Company P.O. Box 762
Bloomfield, New Jersey 349125
March 5, 2014
Mrs. Marianne Rollins
4444 Ross Avenue
Caldwell, New Jersey 07006
Dear Mrs. Rollins:
Thank you for your order (No. 483) of one set of Floral Mist queen-size and pillowcases.
Unfortunately, due to a factory strike, we will not be able to send you your merchandise
when requested.
We are trying to solve the problem. We assure you that we will send you your products as
soon as our production continues.
We would like to inform you that you can change your order to a set of 100 per cent
cotton Rainbow queen-size sheets and pillowcases. We will be sending you two extra
pillowcases due to the inconvenience.
Truly yours,
Michael DiMatteo
Sales Manager
Marelli C.
26
b. Partial Delivery Here the customer must be informed that certain items have been back ordered.
It should also make an attempt to “resell” the merchandise by stressing its finer
features without emphasizing the delayed items.
It could be written following this order:
o P.1: Appreciation and acknowledgment of the order.
o P.2: Mention shipmen, delivery of available items and back ordered
products.
o P.3: Explain delayed products’ reason, “resell” the product
approximately delivery.
27
Laico Products, Inc.
43 Green Street Miami, Florida 45382
March 6, 2014 Mr. John Smith Beauty Depot, Inc. 444 Ross Avenue Miami, Florida 63782 Dear Mr. Smith: We appreciate your interest in our products. Your order no. 437 consisting of 37 Revlon Lipsticks (code 43-7) and 12 Loreal beauty sets (code 332-1) has been registered. As requested, we will be sending the 37 Revlon lipsticks immediately to the address above. However, due to a transportation problem with our supplier the 12 Loreal beauty sets will be sent within the week. You may expect delivery on Wednesday, March 12. We will include three samples of our new Dove hydrating body cream with your lipsticks. Thank you for your preference. Please contact me if you need further information. Sincerely yours, Ingrid Soto Sales Manager Monroy D.
28
Kinbote Products, Inc. 200 Southeast Fourth Street
Miami, Florida 33131
March 7, 2014
Ms. Ellen Minsky Gold’s Specialty Shops 3636 West Grace Street Tampa, Florida 33607 Dear Ms. Minsky: Thank you for your order (No. 434) of March 5 consisting of the assortment of vanilla and chocolate exercise suits (Style L-29) in various sizes. Your petite, small, and medium sizes of vanilla and chocolate suits will be shipped immediately by air express. Unfortunately, due to the high demand, we are out of large sizes. You may expect their delivery next week, on Friday 14. We appreciate your preference of our products. Feel free to contact me at 2333-1524 for further information.
Sincerely yours,
Ingrid Ruiz Sales Manager
Soto A.
29
MARKETING
30
Pic
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PICTIONARY # 1
WORD DEFINITION EXAMPLE PICTURE
Bountiful
Providing a large amount of good
things.
In a restaurant is not only
important to receive a
bountiful amount of food, it also has to have a
good and satisfactory taste.
Headaches Things that cause
difficulties.
It is a frequent headache when we as customers
receive a bad service when we are paying for an “excellent” and “comfortable”
service.
Regulation Official rules or the act of controlling
something.
It is required for every company to
have a Human Resources
Department for the regulation of
the rules and policies within the enterprise.
Reworking Changing or
improving a product or service.
Pollo Campero is trying to rework
its service, starting by
changing its old image for a
renewed and attractive logo.
32
Scrapping
Getting rid of things which are no
longer useful or wanted.
People might not scrap their
invoices, because in any moment SAT could ask
them to support their incomes.
Service To examine a
machine and repair any faulty parts.
Every machine of a factory needs to
receive a service at least once every three months, to
have a proper functioning.
Warranties
Guarantees: written promises to
repair or replace products that
develop a fault.
When we bought new appliances we must revise if the seller company
gives us the warranty, so we could change the product if it gets
damaged.
33
PICTIONARY # 2
WORD DEFINITION EXAMPLE PICTURE
Outlets
Places of business for selling goods to customers (shops, stores, kiosks, etc.)
Mostly, outlets sell original products
cheaper than in the
brand shops.
Product Mix
All the different products, brands and
items that a company sells.
Cemaco has a large product mix which
includes various house, school,
children, babies, garden, office, beauty
and sport products.
Retailers
Businesses that sell goods or
merchandise to individual
consumers.
Walmart is a retailer from all the big
factories like Coca-cola, Toledo,
Samsung, Remington and many more,
because they provide numerous products
from different brands to the final consumer.
Logo
A graphic image or symbol specially
created to identify a company or a
product.
Bershka has its logo in all the different types of bags in which they
give their products because they want
people to feel identify with the company.
34
Packaging
Wrappers and containers used to
enclose and protect a product.
Cigarettes packaging has to inform and warn people that the consumption of
that product causes health
damage.
Brand Recognition
The extent to which consumers
are aware of a brand, and know
its name.
The brand recognition Apple has is incredible, because although its products are
expensive, people know their quality and want to buy and have them.
Shelves Surfaces in a store
on which goods are displayed.
It is essential in a big store to have
the products organized in
shelves to make easier for people to find what they
want.
Market Share
The sales of a company
expressed as a percentage of total
sales in a given market.
Coca-cola last year market share in Guatemala was approximately
26% at year end.
Brand-switchers
Consumers who buy various competing
products rather than being loyal to a particular brand.
I am a brand-switcher in
yogurts because I don’t really care
which its brand is, I only want to buy
a different and delicious one.
35
PICTIONARY # 3
WORD DEFINITION EXAMPLE PICTURE
Distribution Channel
All the companies or individuals
(middlemen) involved in moving goods or services from producers to
consumers.
Coca-Cola Company has a worldwide
effective and efficient distribution
channel.
Wholesaler
An intermediary that stocks
manufacturers’ goods or
merchandise, and sells it to retailers and professional
buyers.
Wholesalers are potential customers
who lead the commercial market.
Market Segmenta-
tion
Dividing a market into distinct groups of buyers who have
different requirements or
buying habits.
Before creating a company it is
essential to make market
segmentation and choose the target customers to plan
strategies.
Product Differentia-
tion
Making a product (appear to be) different form
similar products offered by other
sellers, by product differences, advertising,
packaging, etc.
McDonald’s sells hamburgers as
Burger King, however
McDonald’s have a product
differentiation in the excellent service and comfort it provides to the customers.
36
Market Opportuni-
ties
Possibilities of filling unsatisfied
needs in sectors in which a company
can profitably produce goods or
services.
Many companies have found market
opportunities in Guatemala,
however they don’t exploit that
opportunities because of the
level of corruption in the country.
Market Skimming
Setting a high price for a new product, to make maximum
revenue before competing
products appear on the market.
When Macintosh launched the iPads
they made a market skimming
before the competitors attacked the
market.
Sales Representa-
tive
Someone who contacts existing
and potential customers, and
tries to persuade them to buy goods
or services.
Avon has excellent sales
representatives all over the world
who know how to convince people
about their products’ quality.
Product Features
The attributes or characteristics of a
product, such as size, shape, quality,
price, reliability, etc.
The product features of Nike
are of quality with the appropriate
colors and prices, because although its products are expensive, what
we are paying for is quality no low
prices.
37
Price Elasticity
The extent to which supply or
demand (the quantity
produced or bought) of a
product responds to changes of
price.
Gasoline has constant price
elasticity, depending on the
cost in which petrol comes to
the country.
Market Penetration
The strategy of setting a low
price to try to sell a large volume and increase
market share.
Pollo Pinulito chose the market
penetration strategy by
introducing its product at low costs to attract
consumer.
38
Qu
alit
y
39
QUALITY Doing things right the first time adds nothing to the cost of your product or service. Doing
things wrong is what costs money, like on reworking, scrapping, repeated service,
inspection, testing and warranties. Lapses in quality also damage corporate reputations
and provoke government regulation. These headaches could be prevented by a properly
managed quality operation. Quality is not only free but bountiful source of profits.
The TQM (Quality Management) is a strategy that involves a corporate culture that are
dedicated to providing customers with products and services that satisfy their needs.
Products should have no defects or “zero defects” and services should be as close to
perfect as possible the first time and every time. The company or organization should also
eliminate waste from its operations.
But because products, services and processes change, everything is capable of being
improved all the time. TQM requires all staff to be involved in the search for continuously
improving quality, in all the business’s activities. Quality is more important than
maximizing output or reducing costs.
40
COMPANIES’ LOW QUALITIES
Prestige Oil Spill
The Prestige oil spill was an oil spill off the coast
of Galicia caused by the sinking of an oil tanker in
2002. The spill, releasing over 20 million US
gallons (76,000 m3) of oil into the sea, polluted
thousands of kilometers of coastline and more
than one thousand beaches on the Spanish,
French and Portuguese coast, as well as causing
great harm to the local fishing industry. The spill is
the largest environmental disaster in the history of both Spain and Portugal, and the third
costliest accident in history, for cleaning up the spill and sealing the ship had a cost of
12,000 million dollars.
The subsequent months, thousands of volunteers were organized to help clean the
affected coastline. The massive cleaning campaign was a success, recovering most
portions of coastline from not only the effects of the oil spill but also the accumulated
usual contamination.
Hamburger Chef Jamie Oliver Proves that McDonald’s Burgers Were “Unfit for human consumption”
In 2012, the British hamburger chef Jamie Oliver has
won his long-fought battle against one of the largest
fast food chains in the world – McDonalds. After Oliver
showed how McDonald’s hamburgers are made, the
franchise finally announced that it will change its
recipe.
Oliver repeatedly explained to the public that the fatty
parts of beef were “washed” in ammonium hydroxide
and used in the filling of its burgers in the USA. Before
this process the food is deemed unfit for human consumption. According to
the chef and hamburger enthusiast, Jamie Oliver “Basically, we’re taking a
product that would be sold in the cheapest way for dogs, and after this
process, is being given to human beings.” Besides the low quality of the
meat, the ammonium hydroxide is harmful to health.
41
(A HOTEL CHAIN IN TROUBLE MAIL)
FROM: Executive Directors
TO: Board of Directors
SUBJECT: Troubled Hotels
Dear Board of Directors:
As you already know many of our hotels are no longer profitable. This has
been going on for a long time and if we don’t make any changes, it will
continue being this way. Last Monday we got together to discuss ideas for
what to do.
We suggest changing the type of costumers the hotels should attract: back-
packers. This decision was taken due to the fact that increasing the quality
of the service would be difficult as the hotels have small rooms. This would
involve becoming a low-cost hotels for young travelers, letting them know
that for extra-charges they will get certain benefits, such as:
o Internet Access
o Car Parking
o Room Service
Let us know if you need any further information. We hope you take into
account our suggestions when you take the final decision.
42
PRODUCTS A product is anything that can be offered to a market that might satisfy a want or need.
Most manufacturers divide their products into product line –groups of closely related
products, sold to the same costumer groups, and marketed through the same outlets.
Most products offered for sale by retailers are branded. A brand is a name, a symbol, or a
logo that distinguishes products and services from competing offerings, and makes
consumers remember the company, product or service.
Some companies include their name in all their products (corporate branding). Other ones
do individual branding and give each product its own brand name, so the company name
is less well-known than it brand. Multi-brand strategy allows them to full up space on
supermarket shelves, leaving less room for competitors.
Brand value comes from customers loyalty; the existence of customers who will continue
to buy the products.
43
MARKETING Selling means you sell what you make; marketing means you make what you can
sell.
Marketing means the right product, in the right place, at the right price, and at
the right time.
Marketing means identifying customers, defining and developing the products or
services they want, and making and distributing them.
Marketing means anticipating and creating needs: producing useful things
customers don’t know they wanted until you produced them.