Marketing LAP 1 Work the Big Six Marketing Functions.
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Transcript of Marketing LAP 1 Work the Big Six Marketing Functions.
MarketingMarketingLAP 1LAP 1
Work theWork theBig SixBig Six
Marketing FunctionsMarketing Functions
ObjectivesObjectives
Explain the marketing functions.
Discuss the importance of each marketing function.
Explain the marketing functions.
• Many team activitiesMany team activities
• Success dependent upon Success dependent upon team membersteam members
• Same in marketingSame in marketing
• Success dependent upon Success dependent upon marketing functions marketing functions
What Is Marketing?
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
Marketing’s Goal
To attract thetarget customer to
the business
What Are the Marketing Functions?
• Interrelated activities working together to get products from producers to customers
Product/Service management
Marketing-information management
Pricing
What Are the Marketing Functions?
• Interrelated activities working together to get products from producers to customers
Channel management
Promotion
Selling
Product/Service Management
• Obtains, develops, maintains, and improves a product/service mix
• Plans, directs, and controls a product’s life cycle
Product/Service Management
• Generates ideas for new products
• Improves or updates existing products
• Removes products from the market
Marketing-Information Management
Gathers, accesses, synthesizes, evaluates, and disseminates information
Pricing
• Determines and adjusts prices to:
Maximize return
Meet customers’ perceptions of value
ChannelManagement
• Identifies, selects, monitors, and evaluates sales channels
• Puts products in the customers’ hands
Promotion
• Communicates information about goods, services, images, and/or ideas to achieve a desired outcome
• Informs, persuades, or reminds customers about a business and/or its products
• Uses a variety of methods to communicate with customers
Selling
• Determines client needsand wants
• Responds through planned, personalized communication
• Influences purchase decisions
• Enhances future business opportunities
• Provides customers with the products they want
Discuss theimportance of each marketing function.
Marketing Functions’ Important Roles
• To carry out a business’s marketing plan
• To attract the target customer to the business
Importance ofProduct/Service Management
• Must offer products that customers want and need
• Helps to determine the business’s image/brand
Importance of Marketing-Information Management
• Prevents guessing
• Helps businesses to:
• Learn about their customers
• Predict the future
• Find out if customers are satisfied
Importanceof Pricing
• Affects how well a product will sell
• Impacts how much profit the business will make
• Must set prices customers are willing to pay
Importanceof Pricing
• Must cover costs
• Helps decide when to adjust prices
Importance ofChannel Management
• Gets products from producers to customers
• Makes products available when and where customers want to buy
• Determines which channel members should do what
Importanceof Promotion
• Tells customers about products
• Generates product demand
• Helps create the business’s image
Importanceof Selling
• Involves contact with customers
• Meets customers’ needs
• Sells customers the most appropriate products
• Benefits businesses, customers, and society
• Last product purchased
• Effects of marketing functions on buying decision
• Pure and Natural diapers are: Advertised as:
Containing organic cotton
Being hypoallergenic Including Aloe and
Vitamin E
• Pure and Natural diapers are: Seen as:
Good way to go green
• Pure and Natural diapers are: Maybe not so “natural”
because they: Are disposable Will still end up in
landfills some day
• Obligation to give customers “whole truth,” even if it doesn’t support diapers’ pure and natural brand?
Acknowledgments
Original Developers:
Christopher C. Burke,April J. Miller, MBAResearch
Version 2.0
Copyright © 2012MBA Research and Curriculum Center
Digital-based photography sources:
ThinkStock PhotosVarious images used in this presentation are ©2011 ThinkStock Photos. All rights reserved www.ThinkStockPhotos.com
Copyright:All photographic digital images on this CD are owned by the aforementioned photographic resources or their licensors and are protected by the United States copyright laws, international treaty provisions, and applicable laws. No title to or intellectual property rights to the images on this CD are transferred to you. These sources retain all rights and are not to be used, digitally copied, transferred, or manipulated in any way. To do so is a violation of federal copyright laws.