Goods are TANGIBLE products. Tangible products can be touched.
Services are INTANGIBLE products. Intangible products cannot be touched.
Marketing helps connect businesses to their customers. Marketing also provides the means for the exchange process to occur.
Breakfast?? School? At The Mall? TV? Radio? Newspapers?
All marketing activities can be classified into one of the seven functions of marketing.
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
Deciding how much to charge for goods and services in order to maximize profits.
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.
Gathering, storing, and analyzing information about customers, trends, and competing products. The basis for this process is marketing research.
Any form of communication used to inform, persuade, or remind customers about a businesss products or services. Promotion is also used to improve a firms public image.
Getting the money necessary to pay for setting up and running a business. Financing also involves helping customers to purchase items.
Process of deciding how to get goods in customers hands. Physically moving and storing products. Main methods of transportation: Truck, Rail, Ship, or Air
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.