4Goods are TANGIBLE products. Tangible products can be touched.
5Services are INTANGIBLE products. Intangible products cannot be touched.
6Marketing helps connect businesses to their customers. Marketing also provides the means for the exchange process to occur.
7School? Breakfast?? TV? Radio? At The Mall? Newspapers? We Experience Marketing DailyHow???School?Breakfast??TV? Radio?Newspapers?At The Mall?
8The Functionsof MarketingAll marketing activities can be classified into one of the seven functions of marketing.
9Selling 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.CornFlakes
10PricingDeciding how much to charge for goods and services in order to maximize profits.
11Product / Service Management 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.
12Marketing Information Management Gathering, storing, and analyzing information about customers, trends, and competing products.The basis for this process is marketing research.
13Any form of communication used to inform, persuade, or remind customers about a business’s products or services.Promotion is also used to improve a firm’s public image.Promotion
14FinancingGetting the money necessary to pay for setting up and running a business.Financing also involves helping customers to purchase items.
15DistributionProcess of deciding how to get goods in customers’ hands.Physically moving and storing products.Main methods of transportation: Truck, Rail, Ship, or Air
16Why Study Marketing ?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 communicationsare necessary in the job market.