Marketing Marketing is the process by which a company creates and distributes something of value to its customers. It encompasses a wide range of activities in your business. The 4 P's of marketing- product, price, promotion, and place-provide a framework for understanding the process of creating and distributing value to customers. 1. How would you define the product offered at your cafe? Is it just coffee, or is it something more than that? 2. What methods can you use for setting price? What tools are available for measuring the impact on your price decision? 3. What is the role of advertising and promotion in your marketing mix? How might you measure the effectiveness of your advertising and promotion decisions? 4. The location of your cafe was chosen for you. What decision(s) can you make in the context of the simulation that affects distribution of your product? Can you think of any other distribution options outside the context of the simulation? 5. Who is your target customer? 6. What is the best mix of decisions for marketing to your target customer? Be specific about product, price, promotion, and place (distribution) decisions