Marketing class Jan 18, 2012

I learned many useful things in marketing class last night. I learned what the 4 p's of marketing are. 1-promotion, 2- Product, 3-Price, and 4- Place, and how they all affect and work together in marketing as demonstrated in the graphic below (Barrowed from Cengage Learning Inc.)

We also learned about exchange and what the 5 conditions of exchange that is required for exchange to happen.

1- There must be at least two parties

2- Each party has something that might be of value to the other party.

3- Each party is capable of communication and delivery

4- Each party is free to accept of reject the exchange offer.

5- Each party believes it is appropriate or desirable to deal with the other party.



But even if all 5 of these conditions are meet, the exchange still may not happen. Just because the opportunity is there doesn’t mean that it has to take place.

Both of these examples, the conditions of exchange and the four p's are important for a business to know, to help them market them selves and there products and to know what is needed to be able to make and exchange. This will come in very handy in the future.