Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods. A marketing strategy is composed of several interrelated components called the marketing mix. The Marketing mix consists of data to a series of product and customer related matters.
Pricing is a quantitative expression of the value of the product to the customer.
Pricing should be designed like a feature consistent with the use of the product.
The actual selling process breaks down into two components called the decision making unit (DMU) and the decision making process (DMP). The DMU) consists of all of the people who will play a role in the decision to purchase a product. The marketing mix program must understand the needs of each of these individuals and find a way to communicate the marketing message to each of them. These people are typically identified as:
Buyer – the person who actually pays.
Decider – the person or group that actually says this is the product we want.
Influencer – who helps the decider decide – example the press.
The people included in the decision making unit (DMU) interact to make the purchasing decision. The (DMP) is a description of this interaction. By understanding this process a salesperson can best understand who, how, and when to work on getting the customer order.