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Marketing Functions

Marketing Functions. What is Marketing?. Marketing is the process of developing, promoting, and distributing products to satisfy customers' wants and needs. . Products = Goods and Services. Goods : Hammers, automobiles, soda pop, clothing, and computers

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Marketing Functions

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  1. MarketingFunctions

  2. What is Marketing? Marketing is the process of developing, promoting, and distributing products to satisfy customers' wants and needs.

  3. Products = Goods and Services Goods: Hammers, automobiles, soda pop, clothing, and computers Services: Dry cleaners, amusement parks, attorneys, and movie theaters

  4. Functions of Marketing • Marketing Information Management • Distribution • Pricing • Product/Service Management • Selling • Financing • Promotion • Risk

  5. Marketing Information Managementis gathering information to make business decisions.

  6. Marketing Information Management • Track customer behavior • Find out about competitors • Conduct research about the product

  7. Distributionis how goods are transferred from producer to consumer and where you sell your products

  8. Distribution • Delivery times • Storage • Shelf layout

  9. Pricingis deciding how much to charge to make a PROFIT

  10. Pricing • Discounts • Rebates • Paying for convenience

  11. Product/Service Managementis developing, maintaining, and improving a product.

  12. Product/Service Management • Why didn’t a customer make a purchase? • Product life • Packaging

  13. Financingis getting money to pay for operating a business and giving customers payment options

  14. Financing • Banking • Stocks • Offering credit to customers

  15. Promotionis informing, persuading, and reminding customers about a product

  16. Promotion • Banner ads • E-mail messages • Online newsletters • Websites • Catalogs • Newspaper, radio, television

  17. Sellingis assessing and satisfying a customer’s needs and wants.

  18. Selling • Salespeople • Different communication techniques • Email, telephone call, in person

  19. Risk • Possibility of some kind of loss

  20. Distribution Pricing FUNCTIONS OF MARKETING SELLING Financing Promotion Marketing Info. Management Product/Service Management

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