marketing lap 1 work the big six marketing functions
TRANSCRIPT
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MarketingMarketingLAP 1LAP 1
Work theWork theBig SixBig Six
Marketing FunctionsMarketing Functions
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ObjectivesObjectives
Explain the marketing functions.
Discuss the importance of each marketing function.
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Explain the marketing functions.
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• 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
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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
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Marketing’s Goal
To attract thetarget customer to
the business
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What Are the Marketing Functions?
• Interrelated activities working together to get products from producers to customers
Product/Service management
Marketing-information management
Pricing
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What Are the Marketing Functions?
• Interrelated activities working together to get products from producers to customers
Channel management
Promotion
Selling
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Product/Service Management
• Obtains, develops, maintains, and improves a product/service mix
• Plans, directs, and controls a product’s life cycle
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Product/Service Management
• Generates ideas for new products
• Improves or updates existing products
• Removes products from the market
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Marketing-Information Management
Gathers, accesses, synthesizes, evaluates, and disseminates information
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Pricing
• Determines and adjusts prices to:
Maximize return
Meet customers’ perceptions of value
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ChannelManagement
• Identifies, selects, monitors, and evaluates sales channels
• Puts products in the customers’ hands
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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
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Selling
• Determines client needsand wants
• Responds through planned, personalized communication
• Influences purchase decisions
• Enhances future business opportunities
• Provides customers with the products they want
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Discuss theimportance of each marketing function.
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Marketing Functions’ Important Roles
• To carry out a business’s marketing plan
• To attract the target customer to the business
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Importance ofProduct/Service Management
• Must offer products that customers want and need
• Helps to determine the business’s image/brand
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Importance of Marketing-Information Management
• Prevents guessing
• Helps businesses to:
• Learn about their customers
• Predict the future
• Find out if customers are satisfied
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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
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Importanceof Pricing
• Must cover costs
• Helps decide when to adjust prices
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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
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Importanceof Promotion
• Tells customers about products
• Generates product demand
• Helps create the business’s image
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Importanceof Selling
• Involves contact with customers
• Meets customers’ needs
• Sells customers the most appropriate products
• Benefits businesses, customers, and society
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• Last product purchased
• Effects of marketing functions on buying decision
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• Pure and Natural diapers are: Advertised as:
Containing organic cotton
Being hypoallergenic Including Aloe and
Vitamin E
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• Pure and Natural diapers are: Seen as:
Good way to go green
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• Pure and Natural diapers are: Maybe not so “natural”
because they: Are disposable Will still end up in
landfills some day
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• Obligation to give customers “whole truth,” even if it doesn’t support diapers’ pure and natural brand?
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Acknowledgments
Original Developers:
Christopher C. Burke,April J. Miller, MBAResearch
Version 2.0
Copyright © 2012MBA Research and Curriculum Center
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Digital-based photography sources:
ThinkStock PhotosVarious images used in this presentation are ©2011 ThinkStock Photos. All rights reserved www.ThinkStockPhotos.com
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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.
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