WHAT IS MARKETING?

Marketing is the process of developing, promoting, and distributing ____products______ to satisfy customers’ needs and wants.
WHAT ARE PRODUCTS?

Products include _____goods ____ and ____services________, which have monetary value and satisfy customers’ needs and wants.
WHAT ARE GOODS?

Kinds of things you can touch or hold in your hand. ➢ __Durable goods____________ – things that have a lasting effect ➢ ____Nondurable good____ – things that last only a short time
Examples?
Food, paper, topsoil. Drinks
WHAT ARE SERVICES? Unpred. & intangible

Kinds of things you can’t physically touch, and are performed for a customer.
Examples? Car wash, telegrams, fast food, haircut, mail service, cable service

WHERE ARE GOODS SOLD AND SERVICES PERFORMED?

The marketplace or the commercial environment where ___exchanges_____ are made.

WHAT IS AN EXCHANGE?
When something is sold in the marketplace, for money or bartering

[pic]

EXCHANGE

[pic]
__________marketing________ ______concept________: the idea that a business should strive to satisfy customer’s needs and wants while generating a profit for the business

[pic]
FUNCTIONS OF MARKETING

All of the marketing activities you encounter can be categorized in 9 functions:

1. Distribution (Channel Management)

2. Financing

3. Marketing Information Systems

4. Pricing

5. Product/Service Management

6. Promotion

7. Selling

8. Purchasing

9. Risk Management

Each function is related to its relationship to the marketing of a good, service, or idea.

WHAT KINDS OF THINGS ARE MARKETED?
There are seven items that can be marketed!

___durable goods____________ = car, TV, computers, & home
Goods that last for longer than 6 months

__________________non durable goods__ = food, haircut, & movies
Goods that last only a small amount of time

___________services___ = housecleaning, CNA, CPA, & doctors

____ideas___ = “Don’t Drink and Drive” “Fasten your Seatbelts”

__people ______ = Tiger Woods, Michael Vick, Heath Ledger, & Brad Pitt

_____places____ = movie theaters, Laser Tag, Myrtle Beach, & Snowshoe

____organization__________ = Red Cross, NBA, & Roanoke County Schools

WHAT ARE THE MEANING OF THE FUNCTIONS?

_____distribution_______________
Deciding where and to whom products need to be sold in order to reach the final users. Physically moving things Storing things Moving planning
Methods of distributing products Truck Rail Ship Air

_________Financing_____________
Getting the money that is necessary to pay for the operation of a business. Bank loans to start a new business Stock sales to start a corporation Credit to customers

_____________marketing information systems________