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Marketing is All Around Us - Ch.1 Marketing is All Around Us.

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Presentation on theme: "Marketing is All Around Us - Ch.1 Marketing is All Around Us."— Presentation transcript:

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2 Marketing is All Around Us - Ch.1 Marketing is All Around Us

3 Marketing is All Around Us - Ch.1 Objectives l Define marketing l Understand the difference between needs and wants l Examine the marketing functions and the related activities l Understand the importance of utility in determining value

4 Marketing is All Around Us - Ch.1 What is Marketing? l The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants.

5 Marketing is All Around Us - Ch.1 Marketing is... l Products –Goods and services. l Goods –Material items you can touch. l Services –A series of tasks performed for a customer.

6 Marketing is All Around Us - Ch.1 Marketing... Connecting businesses to their customers. l Marketing provides the means for the exchange process. –An exchange takes place every time something is sold in the marketplace.

7 Marketing is All Around Us - Ch.1 In what ways does marketing affect you every day?

8 Marketing is All Around Us - Ch.1 Functions of Marketing l Purchasing –Obtaining goods and services for use in the operation of a business or for resale.

9 Marketing is All Around Us - Ch.1 Functions of Marketing l Pricing –The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.

10 Marketing is All Around Us - Ch.1 Functions of Marketing l Product Service Mgt. l The process of creating/changing a product in response to market opportunities.

11 Marketing is All Around Us - Ch.1 Functions of Marketing l Marketing Information Management –Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.

12 Marketing is All Around Us - Ch.1 Functions of Marketing l Promotion –Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior.

13 Marketing is All Around Us - Ch.1 Functions of Marketing l Financing –Determining the need for and availability of financial resources to aid in marketing activities.

14 Marketing is All Around Us - Ch.1 Functions of Marketing l Distribution –The physical movement or the transfer of ownership of a good or service form the producer to the consumer.

15 Marketing is All Around Us - Ch.1 Preventing or reducing business loss Ex. Accountants keeping records of what has been sold and the money earned Risk Management

16 Marketing is All Around Us - Ch.1 Selling l Communicating to customers to determine need and benefit –Up selling –Suggestive Selling –Steps of a sale

17 Marketing is All Around Us - Ch.1 Added Value l Utility is the usefulness of a product. What adds value l to a product. There are five types of utilities....

18 Marketing is All Around Us - Ch.1 Form Utility l Making or producing things changing products to add value l For example, how is wheat changed to a more useful product?

19 Marketing is All Around Us - Ch.1 Place Utility l The product’s usefulness is increased because of its location. l Where does the various types of food you eat everyday come from? Would you like to go to Florida to get an orange?

20 Marketing is All Around Us - Ch.1 Time Utility l Making a product available at the right time of year or a convenient time of day. l Ex. Christmas season, Valentine’s Day or stores staying open late in order to attract customers who work during the day.

21 Marketing is All Around Us - Ch.1 Possession Utility l The ability to aid customers in owning goods. l Does the store offer credit cards or take checks?

22 Marketing is All Around Us - Ch.1 Information Utility l Usefulness added to the product through communication. l Packages, labels, advertisements, displays, signs...

23 Marketing is All Around Us - Ch.1 Why study marketing? l... to understand business l... to learn interpersonal skills l... to perfect communication skills.


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