1. MARKETING ESSENTIALS/I Unit 1 What is Marketing? The 5 P’s

2. MARKETING: The connecting link, or bridge, between the producer and the consumer. Producer Consumer

3. The process of planning the product, executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumer wants and needs. PlanningPricing Place (Distribution) PromotionPeople MARKETING IS:

4. THE 5 P’S: MARKETING is a PROCESS and involves the 5 P’s: Planning the PRODUCT PRICING PLACE (Distribution) PROMOTION PEOPLE (The Target Market) Planning PricingPlacePromotionPeople

5. WHAT IS MARKETING? Definition: The process of developing, promoting, and distributing products in order to satisfy customer’s needs and wants.

6. MARKETING IS ALL AROUND US~ SALES REPRESENTATIVES TELEMARKETERS JUNK MAIL VIDEOS, BROCHURES PRODUCT PLACEMENT NETWORKING SIGNS DISPLAYS INTERNET BANNERS

7. >Decisions a business must make. >Depends on Target Market being clearly defined. ___________________________ 1)Product Planning- 1)Make a decision about the product. 2)Produce the Product. 2)Pricing- 1) To Sell (value) 2) To Make a Profit. 3) To be Competitive 3)Place (Distribution)- 1) Packaging 2) Storage 3) Shipping 4) Receiving (Inventory) 5) Where will you sell it? (Con’t) THE 5 P’S =THE MARKETING MIX

8. 5 P’S/THE MARKETING MIX (CON’T) 4)Promotion- 1) Advertising 2) Publicity/Public Relations 3) Personal Sales 4) Sales Promotions 5)People- 1) Consumers 2) Customers _______________________________________________ What is the difference between a Consumer and a Customer?

9. WHAT IS MARKETED? Durable Goods >Desks >Computers >4G phones Places “Get Out There” (RCCL) “Ski Washington.com” “Go Hawaiian” Organizations >WEA >NCAA >NFL >The Red Cross Ideas >”Litter and It Will Hurt” > “Buzzed Driving Is Drunk Driving Nondurable Goods >Yogurt >Gasoline >Cosmetics Services >Airline Travel >Banking >Wedding Planners People >Athletes >Musicians >Ourselves

10. Goods: The kinds of things that you can touch or hold in your hand; TANGIBLES Services: The kinds of things that you can’t physically touch; INTANGIBLES PRODUCTS~INCLUDES IDEAS, GOODS, AND SERVICES, WHICH HAVE MONETARY VALUE AND SATISFY CUSTOMERS’ NEEDS AND WANTS.

11. EXCHANGES=VOLUNTARY PURCHASES (EXCHANGES TAKE PLACE EVERY DAY!)

12. Planning the Product 1)Make a decision about the product 2)Produce It Pricing 1)To Make a Profit 2)To Be Competitive 3) To Sell (Value) BREAKING DOWN THE 5 P’S (MARKETING MIX)

13. 2)Storing (warehousing) 1)Shipping (transporting) DISTRIBUTION(PLACE):

14. 3)Packaging4)Receiving DISTRIBUTION (CON’T)

15. Promotion 1)Advertising 2)Publicity /Public Relations 3)Sales Promos 4) Personal Selling People= The Target Market 1)Customers 2)Consumers THE REST OF THE 5 P’S…

16. THE END