1. Marketing is all around us
Chapter 1
Marketing is all around us

2. Chapter 1 Objectives Define Marketing & Economic Utility
Identify 9 functions of marketing
Explain benefits of marketing & importance of studying

3. What is Marketing? Marketing Goods Services
The process of developing, promoting, & distributing products, to satisfy the needs of consumers
Goods
Things that can be seen or touched
Ex ?
Services
Cannot be physically touched

4. Functions of Marketing Activity
With a partner
Define the 9 functions
Be prepared to discuss w/ class

5. Nine Functions of Marketing
Purchasing
Buying goods and services for business operations
Selling
Providing customers with goods and services they want
Retail and industrial market
Pricing
Deciding how much to charge for G & S

6. Nine Functions of Marketing
Product Planning
All decisions made in production and sale
Which products to carry, packaging, labeling, branding
Information Management
Gathering and analyzing marketing info
Promotion
Communication used to inform, persuade remind or improve image

7. Nine Functions of Marketing
Financing
Money needed to finance business operations
Bank, investors,
Credit options for customers
Distribution
Where to sell products & how to get it there
Risk Management
Preventing or reducing business loss

8. How Does Marketing Benefit the Economy?
Brings producers and consumers together
Effectively
Efficiently
New & improved products
Adds Value
Utility- Added economic value
Lowers Prices

9. 5 Economic Utilities
1. Form Utility- Making or producing things more useful
Not related to marketing
2. Place Utility-having products where consumers
can buy it
3. Time Utility- Have products available when
People what to buy it
4. Possession Utility- exchange of a product
for Monetary Value
5. Information Utility- Communication with the
consumer, through people, ads, packaging

10. Case Study Baking Soda- Genuine Improvement or Trendy Additive?
Answer question 1-3 in notebooks
Be prepared to discuss

11. Why Should We Study Marketing?
Understanding Business
Interpersonal Skills
Communication Skills

12. Closure Questions What is marketing? What are the 9 functions?
What are the 5 Utilities?
Why should we study marketing?

13. Critical Thinking Answer questions 1-6 Hand in when done Name Date
Chapter