1 / 19

Essential Standard 3.00

Essential Standard 3.00. Understand the role marketing in business. Objective 3.01. Understand principles of marketing. Topics. Functions of marketing Importance of marketing research to the creation or improvement of products or services Selling prices of products and services

hazelmajor
Download Presentation

Essential Standard 3.00

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Essential Standard 3.00 Understand the role marketing in business.

  2. Objective 3.01 Understand principles of marketing.

  3. Topics • Functions of marketing • Importance of marketing research to the creation or improvement of products or services • Selling prices of products and services • Classification of channels of distribution • Classification of the main types of promotion

  4. Functions of marketing

  5. Functions of Marketing • What happens during the marketing process? • Activities of marketing happen throughout the seven functions of marketing

  6. Functions of Marketing continued Seven functions of marketing: • Marketing-information management • Product/service management • Pricing • Place (Distribution) • Selling • Financing • Promotion

  7. Importance of marketing research to the creation or improvement of products or services

  8. Marketing Research • What is marketing research? • Steps in marketing research: • Define the marketing problem. • Study the situation. • Develop a data collection procedure. • Gather and analyze information. • Propose a solution.

  9. Marketing Research continued Types of research studies • Surveys • Focus groups • Observations • Experiment

  10. Marketing Research continued Similarities of products and services • Meet the needs or satisfaction of a target market • Include a mix of the marketing elements: product, price, promotion, and place (distribution)

  11. Marketing Research continued Differences between products and services ProductsServices Tangible Intangible Non-perishable or perishable Perishable Separable Inseparable Easier to market More difficult to market More control over quality Less control over quality

  12. Selling prices of products and services

  13. Selling Prices of Products and Services • What factors influence the pricing of products and services? • Pricing formula Selling price =product costs + operating expenses + profit Example: $215=67+38+100

  14. Selling Prices of Products and Services continued • What is markup? • Selling price = product cost + markup • Example: $35+$14=$49 • $35*40%=$14 • What is a markdown?

  15. Classification of distribution and promotion

  16. Classification of Channels of Distribution • What is channel of distribution? • How does having a channel of distribution help businesses?

  17. Classification of Channels of Distribution continued Types of channels of distribution: • Direct Example-Tonya makes and sells drapes to local customers. • Indirect Example-UPS delivers packages for Ann Taylor.

  18. Classification of the Main Types of Promotion • How do you know when communication is effective? • What is the relationship between effective communication and promotion?

  19. Classification of the Main Types of Promotion continued • Main types of promotion: • Personalized • Mass • What are some examples of personalized promotion? • What are some types of mass promotion?

More Related