Download What Is Marketing - Westmoreland Central School

UNIT 2 What Is Marketing
What You'll Learn
 The meaning of marketing
 The foundations of marketing
 The functions of marketing
KEY TERMS
 Marketing –
 Products  Exchange -
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What Is Marketing
What Is Marketing
Marketing is the process of developing,
promoting, and distributing products to
satisfy customers' wants and needs.
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What Is Marketing
Products = Goods, Services, or ideas
Goods: Hammers, automobiles, soda pop,
clothing, and computers
Services: Dry cleaners, amusement parks,
attorneys, and movie theaters
Ideas: Political Campaigns, education
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What Is Marketing
Marketplace: Where goods and services are
made available for exchange
Exchange: Buying or selling of a good or
service (product)
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Graphic Organizer
Marketing Functions
Producers
Financing
Pricing
Marketing-Information Management
Product/Service Management
Promotion
Distribution
Selling
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Consumers
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What Is Marketing
Functions of Marketing
Distribution
where and to whom products need to be
sold in order to reach the final users.
Financing
getting the money needed to pay for the
operation of a business.
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What Is Marketing
Functions of Marketing
Marketing-Information Management
getting the necessary information to
make sound business decisions.
Pricing
dictates how much to charge for
goods and services.
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What Is Marketing
Functions of Marketing
Product/Service Management
obtaining, developing, maintaining,
and improving a product.
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What Is Marketing
Functions of Marketing
Promotion
communicating with potential
customers to inform, persuade, or
remind
Selling
is providing customers with goods
and services they want.
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What Is Marketing
Functions of Marketing
These functions define marketing as it is
applied in business operations.
 Distribution
 Financing
 Marketing-Information Management
 Pricing
 Product/Service Management
 Promotion
 Selling
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What Is Marketing
Why It's Important
To be successful in business requires being
marketing oriented. Learning how businesses
and people operate from a marketing point of
view will help you in all your future endeavors.
You will also get a good idea of whether
marketing is a potential career for you.
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What Is Marketing
Foundations of Marketing
Building on these four foundations helps you to
acquire marketing skills that are relevant to your
own career development.
 Business, Management, and
Entrepreneurship
 Communication and Interpersonal Skills
 Economics
 Professional Development
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What Is Marketing
Foundations of Marketing
Business, Management, and Entrepreneurship
Understanding the basics of business,
management, and entrepreneurial concepts
that affect business decision making.
Communication and Interpersonal Skills
Understanding concepts, strategies, and
systems needed to interact effectively
with others.
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What Is Marketing
Foundations of Marketing
Economics
Understanding the economic principles and
concepts that are basic to marketing.
Professional Development
Understanding concepts and strategies
needed for career exploration,
development, and growth.
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Economic Utilities
Economic Benefits of Marketing
Bridges the gap between you and the
maker or seller of an item.
Makes buying easy for customers.
Creates new and improved products at
lower prices.
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