What is Marketing?

So…What IS Marketing?Your book…

• The creation and maintenance of satisfying exchange relationships.

Wikipedia…• The activity, set of institutions, and processes for

creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Dictionary.com…• The total of activities involved in the transfer of goods

from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.

9 Marketing

Functions

#1Market Planning

#2Products and

Service Management

#3Distribution

#4Pricing

#5Promotion

#6Selling

#7Marketing-Information

Management

#8Financing

#9Risk Management

How are companies are effectively using these

functions to satisfy customers?

So…What IS Marketing?

Your book…• The creation and maintenance of satisfying exchange

relationships.

Creation – marketing is involved form the beginning as products or services are being developed.

Maintenance – marketing must continue to be used as long as a business is operating.

Satisfaction – of both the business and the customer!

List the activities that are involved in the marketing of the Toyota Sienna minivan.

Using the Internet…Task: Find a recent magazine article on a business or business leader who has displayed superior marketing prowess.

• Read the article.• Print the article.• Re-read the article.• Summarize the article with bullets describing the

activities of the business or business leader in terms of the marketing functions.

http://www.forbes.com/http://hbsp.harvard.edu/discipline/marketinghttp://money.cnn.com/magazines/fortune/http://www.fastcompany.com/http://www.entrepreneur.com/http://www.inc.com/http://www.moneyweek.com/http://www.retail-digital.com/

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