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Introduction to Marketing

Introduction to Marketing. November 3, 2010. Objectives. Define marketing and describe its purpose. Explain the marketing concept. Identify the seven functions of marketing. What is Marketing?. Process of developing, promoting, and distributing products to satisfy consumers

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Introduction to Marketing

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  1. Introduction to Marketing November 3, 2010

  2. Objectives • Define marketing and describe its purpose. • Explain the marketing concept. • Identify the seven functions of marketing.

  3. What is Marketing? • Process of developing, promoting, and distributing products to satisfy consumers • Product – includes both goods & services that have monetary value and satisfy consumers’ needs and wants

  4. Time Out… Review! • What are some examples of goods? • What is the definition of a good? • What are some examples services? • What is the definition of a service?

  5. Purpose of Marketing To help connect businesses to their customers!

  6. The Marketing concept

  7. Marketing Concept The Marketing Concept is the idea that a business should strive to satisfycustomers’ needs and wantswhile generating a profit for the business.

  8. Marketing Functions

  9. 7 Functions of Marketing • Channel Management • Financing • Marketing Information Management • Pricing • Product / Service Management • Promotion • Selling Marketing functions should always support the marketing concept!

  10. Group Work!

  11. Directions • Your group will be assigned one of the seven functions of marketing. • You will create a “poster” for your function. Write the name of your function in LARGE print across the top of your construction paper. • Using the red Marketing Essentials textbook, look up your function. As a group, come up with a definition in your own words. • Design a poster that includes the name, definition, and a(n) illustration(s). Your poster should be visually appealing and easy to read.

  12. The 7 Functions of Marketing

  13. Channel Management • Also known as “distribution” • Making decisions about where to sell your product & transporting products to customers

  14. Financing Getting the money needed to finance the operation of a business

  15. Marketing Info. Management • Process of getting the marketing information needed to make good business decisions • Includes gathering, storing, and analyzing market research

  16. Pricing • Deciding how much to charge for your product • Setting prices based on consumer demand, competition, etc.

  17. Product / Service Management • Also known as “product planning” • Designing & developing products • Involves making decisions about the production and sale of products

  18. Promotion • Any form of communication used to inform, persuade, or remind consumers about a product • Attracting consumers to buy your product

  19. Selling • Exchanging a product for an agreed upon amount of money • Includes finding new customers and maintaining customer relationships

  20. Marketing Functions Project!

  21. Mktg. Functions Project • With your partner, decide if you are launching a new sports drink or energy drink. • As marketing managers, you will need to make decisions about each of the seven functions of marketing. Remember to explain/justify your choices! • Create a PowerPoint to pitch your marketing plan! You should have a minimum of 8 slides (a title slide and at least one slide per function).

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