2. Marketing and its Importance

3. Marketing The Free Enterprise system of Economics is the driving force behind a bustling and thriving economy. The major components of the Free Enterprise system are: 1) Private ownership/Profit motive 2) Willingness to take a Risk 3) Competition in the marketplace

4. Marketing u Marketing is all of the activities that link producers and consumers in order that these exchanges can be made.

5. Marketing is all Around Us: It affects all of us in one way or another u It is done: –Phone –Mail –Stores –Internet –Television –Doorsteps

6. Why is Marketing Important? u One of the largest providers of jobs in the World! Worlds Largest Industry: Travel and Tourism (a Marketing and Marketing related field.) Fact: 33 million Americans earn a living in Marketing and most workers are in a Marketing related field. u It is the driving force of nearly all Businesses. u It increases Competition in the Marketplace for Customers which in turn...

7. Why is Marketing Important? u Leads to Lower Prices in the marketplace. u Creates Higher Quality of Goods and Services. u Makes buying more Convenient. u Produces the Highest Paying Jobs of any career field: (Example: Larry H. Miller has a marketing job.) u Fun!

8. Marketing Marketing is a process that involves the coordination of the “4 Ps” of Marketing: Product - what Price – how much Place - where Promotion - how

9. Marketing u Products must be planned u Prices must be determined u Goods and Services must be accessible u Potential Customers must be informed, persuaded, induced to buy

10. Marketing The Official Definition: Marketing is the process of DEVELOPING PROMOTING DISTRIBUTING Products in order to satisfy customers !!!!!!! What are Products? Ideas Goods Services

11. Some examples of things that are Marketed: u Durable Goods u Nondurable Goods u Services u People u Places u Organizations u Ideas

12. Benefits of Marketing u Provides a variety of goods and services.

13. Without Marketing... u Increased Costs u Less Variety u Less Competition

14. Without Marketing... u Fewer product Improvements. u Fewer products developed. u Stock shortages and overages.

15. The End