Marketing Functions

Introduction to Business & Marketing

What is marketing?

Review from last class

What is marketing?◦ Process of developing, promoting & distributing

goods & services to meet consumer wants & needs

Review from last class

Develop

Promote

Distribute

What is marketing?◦ Process of developing, promoting & distributing

goods & services to meet consumer wants & needs

Needs vs. Wants

Review from last class

What is marketing?◦ Process of developing, promoting & distributing

goods & services to meet consumer wants & needs

Needs vs. Wants◦ Needs = essential◦ Wants = desired

Review from last class

Goods vs. services

Review from last class

Goods vs. services◦ Goods – tangible (can touch)

◦ Services – intangible (can’t touch)

Review from last class

Exchange

Review from last class

Exchange◦ Takes place every time something is sold in the

marketplace.

Review from last class

Marketing Functions: All activities that allow companies to bring products to the market for exchange.1. Pricing2. Selling3. Distributing4. Promoting5. Marketing Information Management6. Product/Service Management

Marketing Functions

Pricing: “means deciding how much to charge for goods & services” to make a profit

EXAMPLE: a snickers bar is $1 in the School Store

Write 2 more examples in your notes

Pricing

Selling: “providing customers with goods & services they choose/want to buy”

EXAMPLE: The Nike store sells Nike Air Pegasus shoes.

Write 2 more examples in your notes

Selling

Distributing: “involves making decisions about where to sell your product and the method of transportation to use (i.e. train, plane, automobile)”

EXAMPLE: Surfboards arrive via plane from Hawaii and are sold on 17th street in Virginia Beach.

Write 2 more examples in your notes

Distributing

Promoting: “any form of communication used to inform, persuade, or remind people about a business’s products”

EXAMPLE: Come out Thursday night to see the defending state champion Briar Woods varsity volleyball team take on Robinson in a battle you don’t want to miss. First serve is 7 pm.

Write 2 more examples in your notes.

Promoting

Marketing Information Management: “is the process of getting the marketing information needed to make sound business decisions.”◦ SURVEYS ARE USED!!!

EXAMPLE: sweetFrog distributes surveys for customers to complete online based on potential flavors. These results are used to make decisions on what new flavors to add. Yummy!

Writes 2 more examples in your notes.

Marketing Information Management

Product/service management: “obtaining, developing, maintaining, and improving a product or product mix in response to market opportunities”

Product changes over time to meet the needs of customers

EXAMPLE: The iPod has changed over the last 7 years. It was originally bulky and only black/white; next a smaller/color version called the Nano; next a video iPod; next a smaller Nano; finally iPhone.

Student writes 2 more examples in notes

Product/Service Management

7 years of the iPod

Students will use the Internet to complete the following activity that applies their knowledge of the marketing functions.

Choose a product (good or service). Identify the company that produces this product. Use the Internet to conduct research and identify

how the company applies each of the marketing functions in developing, producing, promoting, and distributing the product.

Each student will complete the questions below and submit for a class activity grade.

Marketing Functions Activity