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

3. The Scope of Marketing You have been a consumer for many years and made decisions about products you liked or did not like. As you study marketing, you will analyze what businesses do to influence consumers’ buying decisions. That knowledge will help you think like a marketer.

4. The scope of Marketing Marketing is... Work with a partner to come up with a good definition of what marketing is. 5 minutes Share

5. Marketing is:… The process of developing, promoting, and distributing products to satisfy customer’s needs and wants.

6. Marketing is… American Marketing Association defines Marketing as: “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”

7. Marketing: Definition AMA (1935-04) Process of managing the 4Ps to create exchanges that satisfy individual & org. objectives. 2005: Creating Communicating Delivering Value Added: Relationships; Benefits; Stakeholders

8. Marketing Definition Marketing involves the processes of: –Planning –Pricing –Promoting –Selling –Distributing Goods, Services, Ideas Create Exchanges that satisfy customers

9. Trends Work with a partner and write down the trends you have noticed in your experience as a teenager. 5 minutes Share

10. Key Terms Products – –goods and services having monetary value that satisfy customer needs and wants. Goods – –tangible products (things you can smell, touch, hold, and feel.) Services – –tasks performed for a customer. (Cleaning, hair cut, plane ride.) Exchange – –trading money or something of monetary value for a good or service.

11. Offerings Goods –Cars, Homes, Books, Furniture, Office Supplies, Tools, Food, etc… Services –Chefs, Custodians, Beauticians, Dentists, Physicians, Auto Mechanics, etc… Ideas –Energy Conservation, Good Health, Saving Money, Go to College, etc…

12. Functions of Marketing Activities that work together to get goods and services from producers to consumers Each is essential

13. Marketing Core Functions: Channel Management –the process of deciding how to get offerings into customers hands. –Includes physically moving and storing the goods –Main methods are: truck, rail, ship, air –Companies may choose several different channels of distribution –The goal is to find the best way to get it into the customers’ hands

14. Marketing Core Functions Marketing Information Management –Good business and marketing decisions rely on good information about customers, trends, and competing products –Gathering Information, Storing Information, Analyzing Information –Companies conduct research so they can be successful at marketing and selling –Customer habits, attitudes, locations, trends

15. Marketing Core Functions Market Planning –used to develop marketing strategies to select a specific audience Determine Information Needs Design Data-collection Processes Collecting Data Analyzing Data Presenting Data –Using data to create a marketing plan

16. Marketing Core Functions Pricing –how much to charge for the good or service in order to make a profit. –based on costs and what competitors charge for the same product or service –must also determine what customers are willing to pay

17. Marketing Core Fucntions Product/Service Management –obtaining, developing, maintaining, improving a product –responses to market opportunities –research guides this toward what the consumer wants or needs. –New technology and trends will influence this.

18. Case Study: Adidas Sales associates for Adidas would get frustrated when they would make a sale to a customer, only to find out some of the products were no longer available. They would be forced to call back to attempt to change the order, or even worse, call customer service on a sales call, interrupting the selling process. So Adidas gave laptops to its sales staff so they could interface with the company’s computer system to check real-time inventory. Today, their sales application can be run from a Blackberry.

19. Marketing Core Functions Promotion –inform, persuade, remind customers about a product or service –Television & Radio commercials are common forms – called Advertising –Also used to improve public image Companies can show responsibility by recycling or cleaning up the environment. –can help achieve success in marketplace.

20. The Pompeian olive oil company is focused on helping the environment by shipping in bulk and using recyclable bottles. Q – How can using ideas like these help the business profit and the environment?

21. Marketing Core Functions Selling –provides customers with the goods and services they want. retail market; business-to-business market; wholesalers; retailers; manufacturers –determine client needs & wants, responding through planned, personalized communication –influences purchasing decisions and future business opportunities

22. The Marketing Concept The idea that a business should strive to satisfy customers’ needs & wants while generating a profit for the business. The focus should be on the customer - If customers don’t buy a company’s products, it will go out of business. With your partner – make a list of 10 ideas that a business could practice to satisfy their customer’s needs and wants.

23. Assignment Write 1 paragraph explaining the problems that would happen if marketers did NOT conduct business with the marketing concept in mind.