1. Marketing Foundations
What is Marketing?
What is the goal of Marketing?

2. Definition of Marketing:
dynamic activities that focus on the customer to generate a profitable exchange
Goal of Marketing:
Meet customers’ needs and wants with products that customers can and will buy

3. Functions of Marketing
Marketing consists of hundreds of activities
Activities are organized around the customer
Activities are organized around the 4 Ps:
Product, price, place, and promotion
Another way to organize activities is by function

4. Distribution
activities involved in getting products from producers to consumers
examples
transporting
storing
finding sources
timely transporting
transferring ownership

5. Product/Service Management
developing products
new products
improving an old product
deciding what products to carry in a store

6. Financing
act of providing funds for business activities, making purchases or investing.
Financial institutions and banks are in the business of financing as they provide capital to businesses, consumers and investors to help them achieve their goals.
Getting investors $$$$$
Making revenue

7. Pricing Setting prices for products/services that you sell
Deciding what to sell a product/service for
Changing the price up or down

8. Marketing-Information Management
MIM
marketing research
gathers, analyzes, and distributes information about markets, competition, and customers
one of the main ways a business learns what customers want
surveys, meeting with customers
Market Planning
identifying target market
segmenting the market
determine strategies based on target market
conduct market analysis
develop marketing plan

9. Risk Management

10. Promotion
nonpersonal communication with customers to influence them to purchase products
Advertising
Public relations
Sales promotion
Publicity

11. Selling personal communications with customers
helping customers in a store
making sales presentations
answering questions on phone
demonstrating how product works
question customers

12. Who does this???
Think about the place where you work, your school store, or another business you know.
Who performs each of these 7 marketing functions?
Work with your neighbor to:
List the name of the business
List the 7 functions and who at that business would perform that function (position of person, not personal name)