Transcript Marketing Functionsx - The Woodlands High School

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Advertising – A paid for announcement to promote goods and
services.
Goods – Tangible items that have monetary value and satisfy
needs and wants.
Services – Intangible items that have monetary value and satisfy
needs and wants.
Need – Something you cannot live without.
Want – Something you would like to have but can live without.
Consumer – Someone who uses products.
Marketing – The process of planning, pricing, promoting, selling,
and distributing ideas, goods, or services to create exchanges
that satisfy customers.
Marketing Concept – The idea that a business should strive to
satisfy customer’s needs and wants while generating a profit for
the company.
Functions of Marketing – Distribution, Financing, Marketing
Information Management, Pricing, Product-Service
Management, Promotion, and Selling.
Utility – Utilities are the attributes of a product or service that
make it capable of satisfying the consumers wants and needs.
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Today’s objective:
1. Recognize the marketing
functions as they relate to
advertising.
What is marketing?
 Includes
the business activities
necessary to get goods and services
from the producer to the final user.
(Consumer or business)
 It is a process of interrelated activities
use by businesses.
 All businesses use marketing
1.
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7.
Marketing Information Management
Financing
Pricing
Promotion
Product/Service Management
Distribution
Selling
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This is the gathering, analyzing, storing,
and collecting of information. This
information is used to find out who the
customer is, their habits, attitudes, and
trends in the market place.
 Collection methods include:
Surveys
Focus groups
Taste testing
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Getting the money that is necessary to
pay for setting up and running a
business.
 Financing also involves decisions such as
whether to offer credit to customers or
other payment options.
 Budgeting to appropriate business
operations, (advertising, inventory, etc)
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Pricing decisions dictate how much to
charge for goods and services in order to
make a profit.
 Marketers must determine how much
customers are willing to pay for these
products.
 Too High
 Too low
 Mark ups and mark downs
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Promotion is the effort to inform,
persuade, or remind potential customers
about a business’s products or services.
 It is also used to improve a company’s
brand image.
 Types/Examples:
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Advertising
Sales Promotions
Publicity
Personal Selling
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Product service management is
obtaining, developing, maintaining, or
improving existing products. Determining
what to make or sale.
 Market research guides product service
management toward what the customer
wants and needs.
 Examples- What colors, styles, brands,
ingredients, product packaging, name
of product, warranty information etc.
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Distribution is the process of deciding
how to get goods to the customer.
 This also involves systems that track
products so that they can be located at
any time.
 Examples:
Transportation
Storage
inventory control
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Selling provides customers with the good
and services they want. This includes:
Manufacturers,Wholesalers, and Retailers
 Sales people help customers make wise
buying decision.
 They also assist with product knowledge
and demonstration, answer customer
questions and reassure the customer’s
purchase.
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The idea that a business should satisfy
customers’ needs.
 All seven functions of marketing need to
support this idea.
 All employees are an extension of this
concept and must provide the best
possible service.
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Think about your favorite restaurant.
 Write down the reason it is your favorite.
 How have they tried to keep you as a
customer?
 Who is the restaurant trying to target?
 Now write down one type of job at the
restaurant and give a brief summary as
to how they contribute to the success of
the marketing concept.
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