the process of developing, promoting, and distributing products to satisfy customers needs and wants
TRANSCRIPT
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The process of developing, promoting,
and distributing products to satisfy
customers’needs and wants.
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Can Include Both
Goods
Service
s
And
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Goods are TANGIBLE products.
Tangible products can be touched.
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Services are INTANGIBLE products.
Intangible products cannot be touched.
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Marketing helps connect
businesses to their customers.
Marketing also provides the
means for the exchange
process to occur.
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Breakfast?
?
School?
At The
Mall?TV? Radio?
Newspapers
?
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All marketing activities can be classified into one of the
seven functions of marketing.
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•Provides customers with the goods and services they want. •Includes selling in the retail market to you, the customer, and business-to-business to wholesalers, retailers, and manufacturers.
Corn
Flakes
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Deciding how much to
charge for goods and services in
order to maximize
profits.
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•Obtaining, developing, maintaining, or improving a product or a product mix in response to market opportunities. •Decisions are often made on the basis of marketing research which highlights customer wants and needs.
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•Gathering, storing, and analyzing information about customers, trends, and competing products.•The basis for this process is marketing research.
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•Any form of communication used to inform, persuade, or remind customers about a business’s products or services.
•Promotion is also used to improve a firm’s public image.
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•Getting the money necessary to pay for setting up and running a business. •Financing also involves helping customers to purchase items.
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•Process of deciding how to get goods in customers’ hands.•Physically moving and storing products.•Main methods of transportation: Truck, Rail, Ship, or Air
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Understanding Business - you must understand how a business works in order to apply marketing practices in our free enterprise society.
Learning Interpersonal Skills – you must learn the techniques and principles of human relations in order to deal with supervisors, co-workers, customers, and friends.
Perfecting Communications Skills – Good written and spoken communications
are necessary in the job market.