Download Marketing is All Around Us

Marketing is All
Around Us
Marketing is All Around Us - Ch.1
What is Marketing?

The process of
developing,
promoting, and
distributing
products in order
to satisfy
customers’ needs
and wants.
Marketing is All Around Us - Ch.1
Marketing is. . .
 Products
– Goods and services.
 Goods
– Material items you can touch.
 Services
– A series of tasks performed for a
customer.
Marketing is All Around Us - Ch.1
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.
Marketing is All Around Us - Ch.1
In what ways does marketing
affect you every day?
Marketing is All Around Us - Ch.1
Functions of Marketing

Purchasing
– Obtaining goods
and services for
use in the
operation of a
business or for
resale.
Marketing is All Around Us - Ch.1
Functions of Marketing

Pricing
– The
determination of
an exchange price
at which the
buyer and seller
perceive
optimum value
for a good or
service.
Marketing is All Around Us - Ch.1
Functions of Marketing

Product Planning
– The process of
creating a product
in response to
market
opportunities.
Marketing is All Around Us - Ch.1
Functions of Marketing

Marketing
Information
Management
– Gathering,
recording,
analyzing and
disseminating
information to aid
in making
marketing
decisions.
Marketing is All Around Us - Ch.1
Functions of Marketing
 Promotion
– Communicates information about
products, services, images or ideas to
customers or clients to influence their
purchase behavior.
Marketing is All Around Us - Ch.1
Functions of Marketing

Financing
– Determining the
need for and
availability of
financial
resources to aid in
marketing
activities.
Marketing is All Around Us - Ch.1
Functions of Marketing

Distribution
– The physical
movement or the
transfer of
ownership of a
good or service
form the
producer to the
consumer.
Marketing is All Around Us - Ch.1
Added Value
 Utility
is the usefulness of a
product.
There are five types of utilities. . . .
Marketing is All Around Us - Ch.1
Form Utility
 Making
 For
or producing things
example, how is wheat
changed to a more useful product?
Marketing is All Around Us - Ch.1
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?
Marketing is All Around Us - Ch.1
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.
Marketing is All Around Us - Ch.1
Possession Utility
 The
ability to aid customers in
owning goods.
 Does
the store offer credit cards or
take checks?
Marketing is All Around Us - Ch.1
Information Utility
 Usefulness
added to the product
through communication.
 Packages,
labels, advertisements,
displays, signs . . .
Marketing is All Around Us - Ch.1
Why study marketing?



. . . to understand
business
. . . to learn
interpersonal skills
. . . to perfect
communication
skills.
Marketing is All Around Us - Ch.1