Download Marketing Introduction

Marketing Principles
Introduction
What is Marketing?
Write your definition of what you
think marketing is based on your
knowledge & experience.
Definition of Marketing
The process of developing, promoting, and
distributing products, or goods & services,
to satisfy customer’s needs & wants.
My 5 Wants
List any 5 wants you have that are
current or future
Next to each want:
Put an “E” next to any that cost
money to attain & a “N” next to any
that do not cost money to attain.
Everyone has wants
• Economic Wants: Unfulfilled desires that
cost money to attain
• Noneconomic Wants: Unfullfilled desires
that do not cost money to attain.
Marketing focuses on people’s
economic wants!
Why? Because the goal of any
business is to make a profit.
Goods & Services satisfy
consumer’s needs & wants
• Goods – Tangible(touch) products
• Services – Intangible(Can’t touch)
• Producers – Create or provide goods &
services to sell for profit.
• Consumers – Consume goods & services to
satisfy their needs & wants.
Marketing’s main function is to provide
a bridge between producers & consumers
so exchange of goods & services can
occur
Marketing Process
Marketing is a Process
Marketing is not just one thing but a
process of many activities that starts
with a Producer & ends with the
Consumer.
Think of any Product
List at least 15 different activities that
may have gone into the process of
marketing a product from producer to
the ultimate consumer.
The 7 Marketing Functions
All marketing activities within the marketing
process can be categorized into 1 of 7
purposes or functions.
The 7 Marketing Functions that
make up the marketing process
• Distribution: Physical
movement & storage
• Financing: How & where
funds are used in business
• Marketing-infomanagement: Collecting,
disseminating, & using info.
To make sound business
decisions
• Pricing: Decisions dictating
how much to charge for
goods & services
• Product/Service
management: What
products & services will
be offered
• Promotion: Activities
that inform & persuade
• Selling: Personalized
communication that
influences purchasing
decisions
This class will focus on the factors &
principles of each of these 7
functions that make up the marketing
process for goods & services.
Next to your list of Marketing
Activities write next to each which
of the 7 marketing functions each
would be categorized as.