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Marketing • Process of developing, promoting, and distributing products to satisfy customers’ needs and wants Vocabulary • Products – Include both goods and services both of which have monetary value • Goods – Tangible • Services – Intangible Foundation of Marketing • Business, Management, Entrepreneurship • Communication and Interpersonal Skills • Economics • Professional Development Business, Management, Entrepreneurship • Understanding the basic concepts that affect business decision making Communication and Interpersonal Skills • Concepts and strategies needed to interact with others Economics • Understand basic economic concepts and strategies related to marketing Professional Development • Concepts and strategies needed for career exploration, development, and growth Marketing Functions • • • • • • • Distribution Finance Market Information Management Pricing Product/Service Management Promotion Selling Utility • Utility – added value in economic terms • Form • Place • Time • Possession • Information