4 Objectives After completing this section, you will be able to define the function of marketing.explain the importance of marketing.describe why it is important to study marketing.
5 Key Termsmarket marketing need want business function functions of business consumer
6 What Is Marketing?Marketing consists of dynamic activities that identify, anticipate, and satisfy customer demand while making a profitThe function of marketing is to meet customer needs and wants with products they can and will buyMarketing is a function of business, the term for all of the activities involved in developing and exchanging products and services
7 The Four Functions of Business Goodheart-Willcox Publisher
8 Why Study Marketing?Learning about marketing will make you a better consumerKnowing about marketing helps you understand how businesses influence purchasingLearning about marketing will make you a better employee
11 Key Termsmarketing professional job career profession career cluster career pathways goalshort-term goallong-term goalgoal settingSMART goals
12 Marketing Professionals A marketing professional is the person who helps determine the marketing needs of a company, develops and implements marketing plans, and focuses on customer satisfactionActivities involved in marketing includeDetermining what type of research about customers is neededDeciding how to get products to the customersPricing, promoting, and selling the productsDeciding how to manage data and information
13 Explore Your Career Options A job is the work a person does regularly in order to earn moneyA career is a series of related jobs in the same profession, the term used for jobs in a business field requiring similar education, training, or skillsStudying the career clusters is a good starting point to see where your interests lie
14 Explore Your Career Options (Continued) Career clusters are 16 groups of occupational and career specialties that share common knowledge and skillsCareer pathways under the marketing clusterMarketing CommunicationsMarketing ManagementMarketing ResearchMerchandisingProfessional Sales
15 Five Levels of Careers Entry-level positions are first jobs Career-level positions require some skillsSpecialist-level positions require specialized knowledge, but do not supervise othersSupervisory-level positions require specialized knowledge and management skillsExecutive level positions are the highest level of management
16 Career PlanningSet a career goal, something a person wants to achieve in a specified time periodShort-term goals can be achieved in under one yearLong-term goals can be achieved in more than a yearSet SMART goals that areSpecificMeasurableAttainableRealisticTimely
18 Why a Career in Marketing? Consider a career as a marketing professional based on your differentInterestsSkillsAbilitiesOpportunities are endless
19 Review Define the term marketing. Answer: Dynamic activities that identify, anticipate, and satisfy customer demand while making a profit.What is the difference between short-term goals and long-term goals?Answer: Short-term goals can be achieved in under one year. Long-term goals can be achieved in more than a year.