1. The Marketing Functions
Sports, Entertainment and Recreation Marketing

2. SWBAT Define the marketing concept
Recall the seven marketing functions
Define each marketing function
Explain the importance of the seven marketing functions

3. The Marketing Concept
Satisfying customers’ needs and wants while generating a profit
We can do this by using the 5 P’s and the 7 Marketing Functions

4. The Seven Marketing Functions
Distribution
Marketing Information Management
Pricing
Product/Service Management
Promotion
Selling
Financing
Distribution
Marketing Information Management
Pricing
Product/Service Management
Promotion
Selling
Financing

5. Distribution
Determining the best way to get a company’s products and services to customers
Examples:
Stores (electronics)
Right location, ticket sales (online?)

6. Marketing Information Management
Gathering and using information about customers to improve business decision making
Marketing Research
Predicting consumer demand

7. Pricing
The process of establishing and communicating to customers the value or cost of goods and services

8. Product/Service Management
Design, developing, maintaining, improving, and acquiring products or services for the purpose of meeting customer wants and needs
Examples
Testing new products
Upgrading new products (Apple)

9. Promotion
Using advertising and other forms of communication to distribute information about products, services, images, ideas to achieve a desired outcome
Example
Coupons on the back of ticket sales
Giveaways at sporting events (hats, etc.)

10. Selling
Any direct and personal communication with customers to assess and satisfy their needs and wants
Includes online purchases
Uncovering future needs
Example: A salesperson answering questions about a running watch.

11. Financing
Requires a company to budget for its own marketing activities
Provide customers with assistance in paying for the company’s products or services
Can obtain financing through sponsors, investors or personal finances
Customers receive financing options
Cash, credit, installment payments
More likely to purchase