Download Introduction to Marketing

INTRODUCTION
TO MARKETING
November 3, 2010
OBJECTIVES



Define marketing and
describe its purpose.
Explain the marketing
concept.
Identify the seven functions
of marketing.
WHAT
IS
MARKETING?
 Process
of
developing,
promoting, and
distributing products
to satisfy consumers
– includes
both goods &
services that have
monetary value and
satisfy consumers’
needs and wants
 Product
TIME OUT…
 What
are some examples of goods?
 What
is the definition of a good?
 What
are some examples services?
 What
is the definition of a service?
PURPOSE
OF
MARKETING
To help
connect
businesses
to their
customers!
THE
MARKETING
CONCEPT
MARKETING CONCEPT
The Marketing Concept
is the idea that a
business should strive to
satisfy customers’
needs and wants while
generating a profit for
the business.
MARKETING
FUNCTIONS
7 FUNCTIONS OF MARKETING
1.
2.
3.
4.
5.
6.
7.
Channel
Management
Financing
Marketing
Information
Management
Pricing
Product / Service
Management
Promotion
Selling
GROUP WORK!
DIRECTIONS




Your group will be assigned one of the seven
functions of marketing.
You will create a “poster” for your function.
Write the name of your function in LARGE
print across the top of your construction paper.
Using the red Marketing Essentials textbook,
look up your function. As a group, come up
with a definition in your own words.
Design a poster that includes the name,
definition, and a(n) illustration(s). Your poster
should be visually appealing and easy to read.
Channel Management
Kim, Yasin, Danielle
Financing
Kelley, Maddie,
Alex
Marketing Information
Management
Rami, Alexio,
Kaitlyn, Christie
Pricing
Michael, Giovanni,
Victor, Thomas
Nigel, Taylor,
Jordi, Evan
Product / Service
Management
Promotion
Andrew, Jeremiah,
Tommy, Natasha
Selling
Lauren, TJ, Josh
THE 7 FUNCTIONS
OF MARKETING
CHANNEL MANAGEMENT
 Also
known as
“distribution”
 Making
decisions
about where to
sell your product
& transporting
products to
customers
FINANCING
Getting the
money needed
to finance the
operation of a
business
MARKETING INFO.
MANAGEMENT
 Process
of getting
the marketing
information
needed to make
good business
decisions
 Includes
gathering, storing,
and analyzing
market research
PRICING
 Deciding
how
much to charge
for your product
 Setting
prices
based on
consumer
demand,
competition, etc.
PRODUCT / SERVICE
MANAGEMENT
 Also
known as
“product planning”
 Designing
&
developing
products
 Involves
making
decisions about
the production and
sale of products
PROMOTION
 Any
form of
communication
used to inform,
persuade, or
remind consumers
about a product
 Attracting
consumers to buy
your product
SELLING
 Exchanging
a
product for an
agreed upon
amount of money
 Includes
finding
new customers
and maintaining
customer
relationships
MARKETING
FUNCTIONS
PROJECT!
MKTG. FUNCTIONS PROJECT
 With
your partner, decide if you are
launching a new sports drink or energy
drink.
 As
marketing managers, you will need to
make decisions about each of the seven
functions of marketing. Remember to
explain/justify your choices!
 Create
a PowerPoint to pitch your marketing
plan! You should have a minimum of 8
slides (a title slide and at least one slide per
function).