marketing functions serm #42
DESCRIPTION
The 6 Marketing Functions Product/service management Distribution Selling Marketing-information management Pricing PromotionTRANSCRIPT
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Marketing Functions
SERM #42
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The 6 Marketing Functions
• Product/service management• Distribution• Selling• Marketing-information management• Pricing• Promotion
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Product/Service Management
• Obtaining, developing, maintaining, and improving a product or product line in respond to customer needs and wants
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Product Service Management Example
• Ex: See how the Coca-Cola bottles have changed with the times and with customer’s needs and wants!
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Distribution• Making decisions about where to sell the
product and how it gets there
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Distribution Example• Ex: Bands pack trailers and busses to
transport their equipment to and from venues.
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Selling• Providing customers with goods and
services they want to buy.
• This includes retail and business to business
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Selling Example• Business to
Business• Corporate Luxury
Boxes
• Business to Consumer• Club Seating
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Marketing Information Management
• Process of collecting information about customer trends, and competitor products
• Marketing Research• Used to determine customer demographics, buying habits,
and attitudes
• How do we get this information?• Surveys• Google search history• Reward cards• Credit card purchases
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Marketing Information Management Example
• Ex: J.Crew asks for your zip code before you purchase something.
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Pricing• How much to charge for goods and
services
• Most decisions take competition into consideration
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Pricing Example• Ex: Tickets to a Raven’s game are sold on a
mark-up of 25%, based on cost.
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PromotionAny form of communication used to inform, persuade, or remind people about a business’s products
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Promotion example• Ex: Free baseball hats are given away at
a baseball game
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Activity• Apply the Marketing Functions to the
Fantasy Football