marketing is all around us - ch.1 marketing is all around us
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Marketing is All Around Us - Ch.1
Marketing is AllMarketing is AllAround UsAround Us
Marketing is All Around Us - Ch.1
What is Marketing?What is Marketing?
The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants.
Marketing is All Around Us - Ch.1
Marketing is. . .Marketing is. . .
Products– Goods and services.
Goods– Material items you can touch.
Services– A series of tasks performed for a
customer.
Marketing is All Around Us - Ch.1
Marketing ... Connecting Marketing ... Connecting businesses to their businesses to their customers.customers.Marketing provides the means for the exchange process.–An exchange takes place every time something is sold in the marketplace.
Marketing is All Around Us - Ch.1
In what ways does In what ways does marketing affect you marketing affect you
every day?every day?
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing
Purchasing– Obtaining
goods and services for use in the operation of a business or for resale.
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing
Pricing– The
determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing
Product Planning– The process of
creating a product in response to market opportunities.
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing Marketing
Information Management– Gathering,
recording, analyzing and disseminating information to aid in making marketing decisions.
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing
Promotion– Communicates information about
products, services, images or ideas to customers or clients to influence their purchase behavior.
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing
Financing– Determining
the need for and availability of financial resources to aid in marketing activities.
Marketing is All Around Us - Ch.1
Functions of MarketingFunctions of Marketing
Distribution– The physical
movement or the transfer of ownership of a good or service form the producer to the consumer.
Marketing is All Around Us - Ch.1
Added ValueAdded Value
Utility is the usefulness of a product.
There are five types of utilities. . . .
Marketing is All Around Us - Ch.1
Form UtilityForm Utility
Making or producing things
For example, how is wheat changed to a more useful product?
Marketing is All Around Us - Ch.1
Place UtilityPlace Utility
The product’s usefulness is increased because of its location.
Where does the various types of food you eat everyday come from? Would you like to go to Florida to get an orange?
Marketing is All Around Us - Ch.1
Time UtilityTime Utility Making a product available at the
right time of year or a convenient time of day.
Ex. Christmas season, Valentine’s Day or stores staying open late in order to attract customers who work during the day.
Marketing is All Around Us - Ch.1
Possession UtilityPossession Utility
The ability to aid customers in owning goods.
Does the store offer credit cards or take checks?
Marketing is All Around Us - Ch.1
Information UtilityInformation Utility
Usefulness added to the product through communication.
Packages, labels, advertisements, displays, signs . . .
Marketing is All Around Us - Ch.1
Why study marketing?Why study marketing?
. . . to understand business
. . . to learn interpersonal skills
. . . to perfect communication skills.