competitive analysis, identifying and evaluating your competitors to Understand their strengths and weaknesses, direct competition, when different products the offer the same or very similar functions are trying to be more successful than one another, indirect competition, when substitutes or different products than can provide a similar function are trying to be more successful than one another, marketing, the work of advertising and offering good or services for sale putting the right product at the r ight place, at the right time, marketing mix, combination of actions 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 and choices in design or features including packaging, profit, the money that a business earns above what it costs to produce and sell goods and services, profit margin, the amount of money that a business makes; often stated as a %, promotion, In a marketing mix, it refers to how people learn about a product, substitutes, products that are different, but can provide a similar function.

Module 1

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