What is Marketing? – The process of developing, promoting, and distributing products and services to satisfy customers’ needs and wants.

What is Marketing? – The process of developing, promoting,

and distributing products and services to satisfy customers’ needs and wants.

Developing – studying customers to determine their wants & needs.

Promotional Activities Educate customers: Free samples of new chips

at Wal-mart Create Interest/Desire: Movie Trailers Make a Sale: Buy one get one free; 10% off

Distributing – Where are items sold? Store, online, phone

Self-Sufficient –People did not rely on others to meet their needs.

Bartering –Exchanging products or services

Specialization of Labor- Do what your good at and focus on that.

Money System Central Markets – Place where people

could buy and sell products.

Development of Marketing   Marketing was not always a primary concern of

businesses due to: Lack of technology Lack of transportation)

  Advanced Technology + Improved Transportation =

Competition  What do we have to do to get people to buy from

us???? Implement the Marketing Concept

Focusing on the needs of customers during the development and promotion of a product.

Target Market – A specific group of consumers that an organization selects as the focus of its marketing mix.

• Transfer of something, tangible or intangible, between two or more parties.

Product Price Place Promotion

Products that a professional sports franchise markets: Team – players, name, Experience – buying a ticket, going to game Merchandise – featuring team logo, colors,

name Food, beverages Sponsorships

How does a team “place” the products they offer? Advertising with newspapers, TV, radio Merchandise in retail locations, games and

online

What role price play in Marketing: Pricing plans for radio and TV broadcasters to

broadcast games Ticket pricing plan Merchandise

How is a product promoted: Advertising in newspaper, TV, radio Sponsoring events at the arena/stadium Participating in events (All-star games, Super

Bowl) Internet Press Releases