Introduction to Marketing
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Transcript of Introduction to Marketing
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INTRODUCTION TO MARKETINGNovember 3, 2010
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OBJECTIVESDefine marketing and describe its purpose.
Explain the marketing concept.
Identify the seven functions of marketing.
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WHAT IS MARKETING? Process of
developing, promoting, and distributing products to satisfy consumers
Product – includes both goods & services that have monetary value and satisfy consumers’ needs and wants
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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?
Review!
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PURPOSE OF MARKETING
To help connect
businesses to their
customers!
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THE MARKETING CONCEPT
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MARKETING CONCEPTThe Marketing Concept
is the idea that a business should strive to
satisfy customers’ needs and wants while generating a profit for
the business.
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MARKETING FUNCTIONS
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7 FUNCTIONS OF MARKETING1. Channel
Management2. Financing3. Marketing
Information Management
4. Pricing5. Product / Service
Management6. Promotion7. Selling
Marketing functions should always support the marketing concept!
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GROUP WORK!
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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.
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Channel Management Kim, Yasin, Danielle
Financing Kelley, Maddie, Alex
Marketing Information
Management
Rami, Alexio,Kaitlyn, Christie
Pricing Michael, Giovanni,
Victor, ThomasProduct / Service
ManagementNigel, Taylor,Jordi, Evan
Promotion Andrew, Jeremiah,
Tommy, NatashaSelling Lauren, TJ, Josh
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THE 7 FUNCTIONS OF MARKETING
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CHANNEL MANAGEMENTAlso known as
“distribution”Making
decisions about where to sell your product & transporting products to customers
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FINANCINGGetting the
money needed to finance the
operation of a business
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MARKETING INFO. MANAGEMENT Process of
getting the marketing information needed to make good business decisions
Includes gathering, storing, and analyzing market research
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PRICINGDeciding how
much to charge for your product
Setting prices based on consumer demand, competition, etc.
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PRODUCT / SERVICE MANAGEMENT Also known as
“product planning”
Designing & developing products
Involves making decisions about the production and sale of products
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PROMOTION Any form of
communication used to inform, persuade, or remind consumers about a product
Attracting consumers to buy your product
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SELLINGExchanging a
product for an agreed upon amount of money
Includes finding new customers and maintaining customer relationships
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MARKETING FUNCTIONS PROJECT!
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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).