1. WF Sports and Entertainment Marketing I
Explain the basic concepts of marketing.

2. The Six Functions of Marketing
1.Marketing Information Management
2.Product/Service Management
3.Pricing
4.Promotion
5.Selling
6.Distribution

3. Marketing-Information Management
Obtaining information needed to make sound business decisions. Example: Taste tests and surveys.

4. Product/Service Management
A. Risk Management: preventing or reducing business loss.
B. Purchasing: Buying goods and services for use in the day-to-day about where a product is sold.
Concepts and procedures necessary to obtain, develop, maintain, and improve a product or service mix in response to market opportunities.

5. Pricing
Determining a value to charge for goods and services. It is important to consider competition and what consumers are willing and able to pay.

6. Promotion
Communication used to inform or remind people about a business’s products. Promotion also involves persuading customers to purchase a product.
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7. Selling
Determining customer needs and wants through planned, personalized communication intended to influence purchase decisions and ensure satisfaction.

8. Distribution
The transporting, storing and handling of goods on their way from the manufacturer to the consumer. This includes the decisions about where to sell a product.

9. The Four P’s of Marketing
The marketing mix, known as the four P’s, is a combination of decisions a business must make in order to best reach its target market

10. The goods and services a business will offer to its customers
PRODUCT
The goods and services a business will offer to its customers

11. The amount a business charges customers for their products
PRICE
The amount a business charges customers for their products

12. PROMOTION
Informing, reminding, and persuading customers of the goods and services available to them.

13. Making products available at the right time and location.
PLACE (distribution)
Making products available at the right time and location.