Marketing All Around Us! 2nd Period Marketing Principles.
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Transcript of Marketing All Around Us! 2nd Period Marketing Principles.
Marketing All Around Us!
2nd Period
Marketing Principles
What is Marketing?
The process of developing, promoting, and distributing products to satisfy customers’ needs and wants.
Products, Goods, Services, & Exchange
Products– Include goods and services
• Have monetary value & satisfy customers’ needs & wants
Goods– Items you touch or hold in your hands
• Ex. Automobile, hammers, soft drinks
Products, Goods, Services, & Exchange, Etc.
Services– You cannot physically touch
• Ex. Dry cleaners, amusement parks
Exchange– Takes place every time something is sold
in the marketplace
Marketing
Helps connect businesses to their customers
Goods are created and sent to the marketplace where they are made available to the public
Marketing and You
Marketing principles and techniques used daily– Ex. Breakfast you eat, shampoo, soap,
toothpaste Created to meet your needs
Parts of Marketing
Product Planning Packaging Advertising Displays and Promotional Techniques Personal Selling Selling and Distribution Marketing Research
Foundations of MarketingFoundations of Marketing
Business, Management, Entrepreneurship– Understanding the basics of business,
management, and entrepreneurial concepts that affect business decision making
Foundations of MarketingFoundations of Marketing
Communication and Interpersonal Skills– Understanding concepts, strategies, and
systems needed to interact effectively with others
Economics– Understanding the economics principles
and concepts that are basic to marketing
Foundations of MarketingFoundations of Marketing
Professional Development– Understanding concepts and strategies
needed for career exploration, development, and growth
Functions of MarketingFunctions of Marketing
Distribution– Decides where and to whom products need
to be sold in order to reach the final users– Moving and storing
• Ex. Truck, rail, ship, and/or air• Ex. Warehouses
Functions of MarketingFunctions of Marketing
Financing– Getting money that is necessary to pay for
the operation of a business• Ex. Bank Loans, Sell shares
– What payment options to offer customers• Ex. Credit Card, Store credit
Functions of MarketingFunctions of Marketing
Marketing Information Management– Obtained through research
• Ex. Questionnaires
– Want to learn how to better serve their customers and to better market their products
Functions of MarketingFunctions of Marketing
Pricing– How much to charge for goods and
services to maximize profits– Based on competitive prices and to
determine what customers are willing to pay
– What to gain marketing share and achieving a certain return on an investment
Functions of MarketingFunctions of Marketing
Product/Service Management– Obtaining, developing, maintaining, and
improving a product or product mix in response to marketing opportunities
– Made on the basis of market research, which highlights consumer needs and wants
Functions of MarketingFunctions of Marketing
Promotion– Communicating with potential customers to inform,
persuade, or remind them about a business’s products
• Ex. Television, Radio (advertising), Print and online
– Improve a companies public image • Ex. Socially Responsible – cleaning up community –
Public Relations
– Communicate information about products, services, images, and/or ideas to achieve a desired income
Functions of MarketingFunctions of Marketing
Selling– Provides customers with goods and services they want– Includes selling in retail market to you, the customer,
and selling in the business-to-business market to industrial users
– Used to determine clients needs and wants and response through planned, personalized communications that influences purchasing decisions and enhances future business opportunities
– Includes selling in a business-to-business– Purchasing for use in a business operations
Marketing ConceptMarketing Concept
Idea that a business should strive to satisfy customers’ needs & wants while generating a profit for the firm.
Focus is on customers All 7 functions need to support this idea
Customer Relationship Management
Combines customer information with customer service and marketing communications
Through database & computer technology