Download The Marketing Function

The Marketing Functions
Sports, Entertainment and Recreation Marketing
SWBAT
 Define the marketing concept
 Recall the seven marketing functions
 Define each marketing function
 Explain the importance of the seven marketing functions
The Marketing Concept
 Satisfying customers’ needs and wants
while generating a profit
 We can do this by using the 5 P’s and the
7 Marketing Functions
The Seven Marketing Functions
Distribution
 Distribution
 Marketing Information Management
Marketing
Information
Management
Financing
 Pricing
 Product/Service Management
 Promotion
 Selling
Selling
Marketing
Functions
 Financing
Promotion
Product/Service
Management
Pricing
Distribution
 Determining the best way to get a
company’s products and services to
customers
 Examples:
 Stores (electronics)
 Right location, ticket sales (online?)
Marketing Information Management
 Gathering and using information about
customers to improve business decision
making
 Marketing Research
 Predicting consumer demand
Pricing
 The process of establishing and
communicating to customers the value or
cost of goods and services
Product/Service Management
 Design, developing, maintaining,
improving, and acquiring products or
services for the purpose of meeting
customer wants and needs
 Examples
 Testing new products
 Upgrading new products (Apple)
Promotion
 Using advertising and other forms of
communication to distribute information
about products, services, images, ideas
to achieve a desired outcome
 Example
 Coupons on the back of ticket sales
 Giveaways at sporting events (hats, etc.)
Selling
 Any direct and personal communication
with customers to assess and satisfy their
needs and wants
 Includes online purchases
 Uncovering future needs
 Example: A salesperson answering
questions about a running watch.
Financing
 Requires a company to budget for its own
marketing activities
 Provide customers with assistance in paying
for the company’s products or services
 Can obtain financing through sponsors,
investors or personal finances
 Customers receive financing options
 Cash, credit, installment payments
 More likely to purchase