competitive analysis , identifying and evaluating your competitors to understand their strengths and weaknesses, direct competition, when different products that offer the same or very similar functions are trying to be more successful than one another, indirect competition, when substitutes or different products that can provide a similar function are trying to be more successful than one another, marketing, advertising and offering goods for sale, putting the right product at the right place, at the right time, a marketing mix, the combination of actions a company uses when selling the right product at the right price, in the right place at the right time; the 4 P's, place, where a product will be sold, price, the amount of money people will pay for a product, product, a good or service; also, choices in design or features including packaging, profit, the money a business earns above what it costs to produce and sell goods and services, profit margin, the amount of money that a business earns; often expressed as a %, promotion, how people learn about a product, substitutes, products that are different but can provide a similar function.

Module 3

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