1. Section 1.1 What Is Marketing?
Marketing Essentials
n Chapter 1 Marketing Is All Around Us
Section 1.1 What Is Marketing?

2. What Is Marketing SECTION 1.1 The meaning of marketing
What You'll Learn
The meaning of marketing
The foundations of marketing
The functions of marketing

3. What Is Marketing SECTION 1.1
Why It's Important
To be successful in business requires being marketing oriented. Learning how businesses and people operate from a marketing point of view will help you in all your future endeavors. You will also get a good idea of whether marketing is a potential career for you.

4. What Is Marketing SECTION 1.1 marketing products goods services
Key Terms
marketing
products
goods
services
exchange

5. What Is Marketing SECTION 1.1 What Is Marketing
Marketing is the process of developing, promoting, and distributing products to satisfy customers' wants and needs.

6. What Is Marketing SECTION 1.1 Products = Goods and Services
Goods: Hammers, automobiles, soda pop, clothing, and computers
Services: Dry cleaners, amusement parks, attorneys, and movie theaters
Exchange: Buying or selling a good or service

7. What Is Marketing SECTION 1.1 Foundations of Marketing
Building on these four foundations helps you to acquire marketing skills that are relevant to your own career development.
Business, Management, and Entrepreneurship
Communication and Interpersonal Skills
Economics
Professional Development
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8. What Is Marketing SECTION 1.1 Foundations of Marketing
Business, Management, and Entrepreneurship Understanding the basics of business, management, and entrepreneurial concepts that affect business decision making.
Communication and Interpersonal Skills Understanding concepts, strategies, and systems needed to interact effectively with others.
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9. What Is Marketing SECTION 1.1 Foundations of Marketing
Economics Understanding the economic principles and concepts that are basic to marketing.
Professional Development Understanding concepts and strategies needed for career exploration, development, and growth.
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10. What Is Marketing SECTION 1.1 Functions of Marketing
These functions define marketing as it is applied in business operations.
Distribution
Financing
Marketing-Information Management
Pricing
Product/Service Management
Promotion
Selling
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11. What Is Marketing SECTION 1.1 Functions of Marketing
Distribution involves deciding where and to whom products need to be sold in order to reach the final users.
Financing is getting the money needed to pay for the operation of a business.
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12. What Is Marketing SECTION 1.1 Functions of Marketing
Marketing-Information Management involves getting the necessary information to make sound business decisions.
Pricing dictates how much to charge for goods and services.
Product/Service Management is obtaining, developing, maintaining, and improving a product.
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13. What Is Marketing SECTION 1.1 Functions of Marketing
Promotion is communicating with potential customers to inform, persuade, or remind them about a company.
Selling is providing customers with goods and services they want.
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14. Reviewing Key Terms and Concepts
ASSESSMENT
1.1
Reviewing Key Terms and Concepts
1. What is an exchange?
2. Which of the seven functions of marketing were illustrated in the average day described in Chapter 1, Section 1?
3. Which of the seven functions of marketing were not illustrated in that same discussion?

15. ASSESSMENT Thinking Critically 1.1
How is a presidential political campaign an example of marketing?

16. Graphic Organizer 1.1 Marketing Functions Producers Consumers
Financing
Pricing
Marketing-Information Management
Product/Service Management
Promotion
Distribution
Selling
Producers
Consumers

17. Marketing Essentials
End of Section 1.1