Introduction to Marketing

INTRODUCTION TO MARKETINGNovember 3, 2010

OBJECTIVESDefine marketing and describe its purpose.

Explain the marketing concept.

Identify the seven functions of marketing.

WHAT IS MARKETING? Process of

developing, promoting, and distributing products to satisfy consumers

Product – includes both goods & services that have monetary value and satisfy consumers’ needs and wants

TIME OUT…

What are some examples of goods?

What is the definition of a good?What are some examples

services?What is the definition of a

service?

Review!

PURPOSE OF MARKETING

To help connect

businesses to their

customers!

THE MARKETING CONCEPT

MARKETING CONCEPTThe Marketing Concept

is the idea that a business should strive to

satisfy customers’ needs and wants while generating a profit for

the business.

MARKETING FUNCTIONS

7 FUNCTIONS OF MARKETING1. Channel

Management2. Financing3. Marketing

Information Management

4. Pricing5. Product / Service

Management6. Promotion7. Selling

Marketing functions should always support the marketing concept!

GROUP WORK!

DIRECTIONS Your group will be assigned one of the

seven functions of marketing. You will create a “poster” for your

function. Write the name of your function in LARGE print across the top of your construction paper.

Using the red Marketing Essentials textbook, look up your function. As a group, come up with a definition in your own words.

Design a poster that includes the name, definition, and a(n) illustration(s). Your poster should be visually appealing and easy to read.

Channel Management Kim, Yasin, Danielle

Financing Kelley, Maddie, Alex

Marketing Information

Management

Rami, Alexio,Kaitlyn, Christie

Pricing Michael, Giovanni,

Victor, ThomasProduct / Service

ManagementNigel, Taylor,Jordi, Evan

Promotion Andrew, Jeremiah,

Tommy, NatashaSelling Lauren, TJ, Josh

THE 7 FUNCTIONS OF MARKETING

CHANNEL MANAGEMENTAlso known as

“distribution”Making

decisions about where to sell your product & transporting products to customers

FINANCINGGetting the

money needed to finance the

operation of a business

MARKETING INFO. MANAGEMENT Process of

getting the marketing information needed to make good business decisions

Includes gathering, storing, and analyzing market research

PRICINGDeciding how

much to charge for your product

Setting prices based on consumer demand, competition, etc.

PRODUCT / SERVICE MANAGEMENT Also known as

“product planning”

Designing & developing products

Involves making decisions about the production and sale of products

PROMOTION Any form of

communication used to inform, persuade, or remind consumers about a product

Attracting consumers to buy your product

SELLINGExchanging a

product for an agreed upon amount of money

Includes finding new customers and maintaining customer relationships

MARKETING FUNCTIONS PROJECT!

MKTG. FUNCTIONS PROJECT With your partner, decide if you are

launching a new sports drink or energy drink.

As marketing managers, you will need to make decisions about each of the seven functions of marketing. Remember to explain/justify your choices!

Create a PowerPoint to pitch your marketing plan! You should have a minimum of 8 slides (a title slide and at least one slide per function).