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Exploring Everyday Marketing: A Guide to Understanding Business and Consumer Engagement

Uncover the impact of marketing in your daily life and the business world with this comprehensive guide. Discover how marketing connects businesses to customers by developing, promoting, and distributing products to fulfill their needs. Learn about the functions of marketing, such as selling, pricing, product management, information gathering, promotion, and market planning. Dive into the concept of added value through different types of utilities like form, place, time, possession, and information. Enhance your knowledge of marketing to understand business dynamics, improve interpersonal and communication skills, and appreciate the significance of consumer engagement.

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Exploring Everyday Marketing: A Guide to Understanding Business and Consumer Engagement

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  1. Marketing is AllAround Us

  2. What is Marketing? • The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants.

  3. Marketing is. . . • Products • Goods and services. • Goods • Material items you can touch. • Services • A series of tasks performed for a customer.

  4. Marketing ... Connecting businesses to their customers. • Marketing provides the means for the exchange process. • An exchange takes place every time something is sold in the marketplace.

  5. In what ways does marketing affect you every day?

  6. Functions of Marketing • Selling—Direct, personal communications with prospective customers in order to assess needs and satisfy them with appropriate products

  7. Functions of Marketing • Pricing • The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.

  8. Functions of Marketing • Product and Service Management • Assisting in the design & development of products to meet needs of customers

  9. Functions of Marketing • Marketing Information Management • Gathering, recording, analyzing and using information to aid in making marketing decisions.

  10. Functions of Marketing • Promotion • Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior. • Inform, persuade, remind

  11. Functions of Marketing • Market Planning—Identifying and understanding the markets a company wants to serve and developing effective strategies for each market

  12. Functions of Marketing • Distribution • The physical movement or the transfer of ownership of a good or service form the producer to the consumer.

  13. Added Value • Utility is the usefulness of a product. There are five types of utilities. . . .

  14. Form Utility • Making or producing things • For example, how is wheat changed to a more useful product?

  15. Place Utility • The product’s usefulness is increased because of its location. • Where does the various types of food you eat everyday come from? Would you like to go to Florida to get an orange?

  16. Time Utility • Making a product available at the right time of year or a convenient time of day. • Ex. Christmas season, Valentine’s Day or stores staying open late in order to attract customers who work during the day.

  17. Possession Utility • The ability to aid customers in owning goods. • Does the store offer credit cards or take checks?

  18. Information Utility • Usefulness added to the product through communication. • Packages, labels, advertisements, displays, signs . . .

  19. Why study marketing? • . . . to understand business • . . . to learn interpersonal skills • . . . to perfect communication skills.

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