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Bunyod Abdumajidov
Chapter 12
1. Creating a new product involves a series of steps, like brainstorming ideas, checking if they're
good, analyzing if it's a good business idea, actually making the product, testing it in the market, and
then finally making it available to customers.
2. Think of products like they're born, grow, get older, and eventually fade away. Different stages
need different ways to sell them. In the beginning, we focus on telling people about the product.
When it's growing, we spend more on advertising. In the mature stage, we may change how it looks
to keep up with the times. And when it's declining, we might spend less, even if it means losing
money faster.
3. Out of the four things (product, price, place, and promotion) we can control in marketing, the
price is the easiest to change because it depends on how much people want the product at a certain
time.
4. When a new product comes out, you can choose to start with a high price to get the most money
from people who really want it, or you can start with a low price to get lots of people to buy it
quickly.
5. The hardest thing to change in marketing is how you get your product to people. It involves a lot
of different pieces, like moving stuff around and setting things up, and once it's set up, it's not easy
to move to a different place.
6. There are different ways to get products to people. Sometimes, they come straight from the
company to you. Other times, they go from the company to a store and then to you. There can be
more steps with wholesalers or agents in between.
7. Physical distribution is all the work needed to move products from where they are made to where
they are bought, like storing things, moving them around, and shipping them.
8. Think of advertising as a friendly reminder to buy something now, and you often see it many
times. Publicity is more like a one-time announcement about what a company is doing or what it's
selling. It doesn't usually ask you to do something right away.
9. Personal selling is when a person talks to you about a product face-to-face. It involves six steps:
finding potential buyers, approaching them politely, showing how the product works, addressing any
concerns they might have, asking them to buy it, and following up to make sure they're happy with
their purchase.
10. When a company wants stores to sell its product, it's called a push strategy. They might send
people to talk to the stores, give out brochures, and offer special deals. A pull strategy is when a
company works to make people want a product, so they ask the stores to carry it.