The Functions of Marketing #2 You need text books today Today I will: Take notes with the intent of learning the seven functions of marketing So I can: Identify the 7 functions using real life examples I will know I’m successful when: I am able to see how the 7 functions are present and integral to all businesses. You need text books today Read/scan pages 8-9. When finished, close your book.

The Functions of Marketing The seven functions of marketing all work toward one goal, achieving the Marketing Concept: satisfying a customer’s needs and wants while making a profit These functions are applied every time – they are the practice of marketing – whether it be a large corporation or a small, independent business

The Seven Functions Channel Management – getting product to customers in the best way possible Marketing Information Management – gathering and using customer information to improve business decisions Market Planning – development of a market plan to reach different types of customers. Pricing – deciding how much a product or service will cost the customer Product/Service Management – design, create, improve or maintain a product toward what the consumer wants or need. Promotion – communications to inform, persuade and remind consumers of a product’s benefit and encourage them to buy it Selling – direct contact with potential customers to determine and satisfy their needs

Assignment: Work in table groups 1 5 Assignment: Work in table groups 2 6 As you work through this, recall the neighborhood lemonade stand 3 7 4 8 Corresponding to the diagram of table numbers above, each table is assigned one of the seven functions (individuals from table 8 choose whichever function you want). Brainstorm and as a table come up and write down how the kid’s lemonade stand implements the function. … We will share out when task is completed. 1 – Product/Service Management 5 – Market Planning 2 – Channel Management 6 – Pricing 3 – Selling 7 – Promotion 4 – Marketing Information Management