2.02Classify the functions of marketing and the marketing mix.

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Presentation transcript:

2.02Classify the functions of marketing and the marketing mix.

Classify the functions of marketing Product/service management Product/service management Pricing Pricing Marketing Information Management (MIM) Marketing Information Management (MIM) Selling Selling Promotion Promotion Distribution Distribution

Summarize the marketing mix Marketing mix: A combination of decisions a business makes in order to best reach its target market. Known as the four Ps (product, price, place, promotion). Marketing mix: A combination of decisions a business makes in order to best reach its target market. Known as the four Ps (product, price, place, promotion).

Marketing Mix: Product Businesses must decide which products to offer customers. Businesses must decide which products to offer customers.

Marketing Mix: Price The amount a business charges customers for a product. The amount a business charges customers for a product.

Marketing Mix: Place Having the product available at the right time and location. Also known as distribution. Having the product available at the right time and location. Also known as distribution.

Marketing Mix: Promotion Informing and reminding customers of the products available to them and persuading them to purchase. Informing and reminding customers of the products available to them and persuading them to purchase. Promotion includes advertising, personal selling, sales promotion, and publicity. Promotion includes advertising, personal selling, sales promotion, and publicity.