ReviewProductSomethingwecansold.Aviableproductneedstobeprofitable(or,inthecaseofanonprofit,atleastsustainable),includingbeingproducibleandmarketable.Also,theproductshouldberelatedtothepurpose,ormission,ofyourbusiness.Businessescangobankruptbytryingtobetoomanythingstotoomanycustomers,ratherthandoingafewthingsverywell.NeedswantsexpectationNeedsiswhattheconsumerrequirestosolvetheproblem.Wantsiswhattheconsumersaytheirdesire.Expectationistheconsumerexpectforwhatproduct.demandssupplydemandasmarketing,andsupplyasproduction.Itisthejobofmarketingtocreatedemandfromtheirpracticesandprograms.Marketingmustproduceadvertisementcampaigns,salesinitiativesandmotivationforthesalesforcetoexcel.Supplyismoreofamanufacturingproblem.Howmuchofyourproductdoyouofferyourcustomers?Isthereanyscarcityinthesegoods?Thefirstdecisionindeterminingsupplyshouldbetheabilitiesofyourproductionfacilitiesandyourlowestaveragetotalcost.Thenmatchthisupwithdemandanddecidehowmuchofyourproducttoproduce.MarketMarketshareMarketingisthewiderangeofactivitiesinvolvedinmakingsurethatyou'recontinuingtomeettheneedsofyourcustomersandaregettingappropriatevalueinreturn.Marketshareisthepercentageofamarket(definedintermsofeitherunitsorrevenue)accountedforbyaspecificentity。Marketshareissaidtobeakeyindicatorofmarketcompetitiveness—thatis,howwellafirmisdoingagainstitscompetitors.CustomerConsumerCustomeristhepersonwhobuytheproduct.Consumeristhepersonwhousetheproduct.MarketerandSales(whatisthedifference)Marketeristhemanwhosoldtheproductbythinking.sheorheneedcollectionthedateofthemarketing,makestrategyabouthowtosoldit.Salesisthemanwhojustdosomethingautomatic,heorshemaythinklittleaboutthestrategy.WhatisanEntrepreneurSomeonewhoexercisesinitiativebyorganizingaventuretotakebenefitofanopportunityand,asthedecisionmaker,decideswhat,how,andhowmuchofagoodorservicewillbeproduced.Anentrepreneursuppliesriskcapitalasarisktaker,andmonitorsandcontrolsthebusinessactivities.Theentrepreneurisusuallyasoleproprietor,apa