1. Marketing Basics
Marketing-the creation and maintenance of satisfying exchange relationships
Creation-product development
Maintenance-continues even after the consumer buys the product
Satisfaction-meets the needs of both parties
Exchange Relationships-both parties get something of value

2. Marketing Mix Four P’s Product Placement (Distribution) Price
Promotion

3. Product Is what the business offers customers to satisfy needs.
Athletic shoes, games, video rentals

4. Placement (Distribution)
Involves how we make the product available to the consumer

5. Price
The amount the customer is willing to pay for a product

6. Promotion
Involves the ways to encourage customers to purchase products and increase customer satisfaction
Advertising, publicity, personal selling, and public relations

7. Key Marketing Functions
Product/Service Management
Distribution
Selling
Marketing-Information Management
Financing
Pricing
Promotion

8. Product/Service Management
Designing, developing, maintaining, improving, and acquiring products or services so they meet customer needs.

9. Distribution
Determining the best way to get the product to the consumer
Personal selling
In store
On line
Mail order

10. Selling Direct and personal communication with customer
Satisfy current needs and anticipate future needs

11. Marketing-Information Management
Gathering info about customers
Surveys
On-line forms
Warranty registrations
Those annoying people in the mall

12. Financing The budget to sell the item
The ways to assist customers in purchasing your product
0% financing

13. Pricing Communicating the value or cost of goods
High price and quality
Low price and high volume
High price with low volume

14. Promotion
Using advertising and other forms of communication to inform about products
Commercials
“Cubs Floppy Hat Day”
“McDonald’s Beanies”