CSEC Principles of Business – Marketing and Sales
Notes
1. Marketing
1 Definition: Marketing is the process of identifying, anticipating and satisfying customer needs
profitably.
2 The 4 P’s of Marketing:
3 • Product – What is being sold to satisfy customer needs.
4 • Price – The amount of money customers must pay for the product.
5 • Place – How and where the product reaches customers (distribution).
6 • Promotion – How customers are informed and persuaded to buy the product.
7 Marketing Activities include: Market research, product design, packaging, pricing, promotion,
distribution, and after-sales services.
2. Product
1 Definition: A product is any good or service offered to satisfy consumer needs and wants.
2 Packaging: Packaging protects, preserves and promotes a product.
3 Importance of Packaging:
4 • Attracts customers and aids promotion.
5 • Protects the product from damage.
6 • Provides information such as ingredients or instructions.
7 Branding: The use of a name, symbol or design to identify a product and distinguish it from
competitors.
8 Protecting Business Ideas:
9 • Patents – Protect inventions or new processes.
10 • Trademarks – Protect brand names, symbols or logos.
11 • Copyright – Protects written, artistic or musical works.
12 • Industrial Design – Protects the unique visual design of a product.
3. Promotion
1 Definition: Promotion refers to all activities used to inform, persuade, and remind customers about
a product or service.
2 Advertising: A form of paid communication to reach and influence potential customers.
3 Purposes of Advertising:
4 • To inform about new products.
5 • To persuade customers to buy.
6 • To remind customers of existing products.
7 Types of Advertising:
8 • Informative – provides facts and details.
9 • Persuasive – aims to influence purchase decisions.
10 • Competitive – compares products with rivals.
11 • Institutional – promotes a company’s image.
4. Sales Promotion
1 Definition: Sales promotion refers to short-term incentives aimed at increasing sales.
2 Examples include:
3 • Discounts and coupons.
4 • Buy-one-get-one-free offers.
5 • Competitions and prizes.
6 • Free samples and demonstrations.
7 • Loyalty programmes.
5. Public Relations (PR)
1 Definition: Public Relations involves managing the company’s image and building good
relationships with the public.
2 Examples include:
3 • Press releases and news conferences.
4 • Sponsorship of community or sporting events.
5 • Social media engagement.
6 • Charitable donations and partnerships.
6. Techniques of Selling
1 Personal Selling: Direct interaction between a salesperson and a customer to encourage a
purchase.
2 After-Sales Service: Support provided after a sale to ensure customer satisfaction, e.g., repairs or
warranties.
3 Merchandising: Displaying and arranging products to attract customers and increase sales.
4 Good Customer Relations: Building trust and loyalty through respectful communication, honesty,
and good service.
7. Methods of Retailing
1 Retailing refers to selling goods and services directly to consumers.
2 Common methods include:
3 • Shop retailing – supermarkets, department stores.
4 • Non-shop retailing – online stores, vending machines, catalogues.
5 • Mobile retailing – vendors or delivery services.
6 • Direct selling – door-to-door or home parties.
8. Terms of Sale
1 Definition: Terms of Sale are the conditions under which goods are sold to buyers.
2 Common terms include:
3 • Cash on delivery (COD) – payment made when goods are delivered.
4 • Credit sales – payment is made after a period of time.
5 • Hire purchase – goods are paid for in installments.
6 • Trade discounts – reduction in price for bulk buying or loyalty.
7 • Warranty – a promise to repair or replace faulty goods.
