After completing this module, you will be able to: • explain the elements of the marketing mix • identify the nature of your product or service and summarise its characteristics • explain the importance of packaging, the different types of packaging and packaging strategies
• explain pricing principles and processes for pricing of product • assess the pricing of product • calculate the selling price of products/services of given examples • define promotion • present suitable ways in which to promote the product/service of the new venture • explain how the promotion will be implemented • prepare an advertising budget for a small business • describe how promotional efforts increase customer awareness • describe the selling process • explain the role of place in the success of a small business • illustrate the layout of a small business.
