Download Defining Marketing

Marketing is
All Around Us
Chapter 1
What is Marketing?
• It’s a process of developing, promoting, and
distributing products to satisfy customers needs
and wants.
– Products include goods and services, both of which
have monetary value and satisfy customers’ needs
and wants.
What constitutes a good
• Anything you can
touch or hold in
your hand.
– Examples:
• Hammers,
• automobiles,
• soft drinks,
• clothing
• and computers
So then what is a service?
• Services are the kinds of things you
can’t physically touch. Services
are tasks performed for a
customer.
– Examples:
• Dry cleaning
• Amusement parks
• Income tax preparers,
• And movies
Can you pick which ones are
goods/services?
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Basketball Game
Haircut
Ski Coat
Dinner at a restaurant
Bungee Jumping
Stapler
Santa Photo
G
G
G
G
G
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G
or
or
or
or
or
or
or
S
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S
Functions of Marketing
• How does marketing affect us
everyday?
Marketing Functions
Distribution
Pricing
Product/Service
Management.
Selling
Marketing Information
Management
Promotion
Product/Service Management
Function
Producers must look for new ways to use
existing items or produce new ones
that will continue to interest the
consumer.
Distribution Function
The distribution of goods includes the methods
of physically moving and storing goods.
Distribution technology allows businesses to track
and monitor merchandise all the way from the
manufacturer to the retail outlet to the
customer.
Pricing Function
Pricing includes determining how
much to charge for goods and
services in order to maximize profits.
Marketing-Information Management
Function
There are five main elements in a marketinginformation system:
1. Input
2. Storage
3. Analysis
4. Output
5. Decision making
Promotion Function
Promotion is the communication
technique a business uses, such as
advertising and other promotional
methods, to interest customers in
buying the products.
Selling Function
The selling function involves the direct
personal contact that businesses have
with their customers.
Sales personnel must be able to
communicate
the benefits and features of the items so
that customers are willing to pay higher
prices.