Transcript Intro to Marketing Mr. Bernstein Seven Key Marketing Functions

Intro to Marketing
Mr. Bernstein
Marketing and the Marketing Concept;
The Importance of Marketing
Glencoe pp 4-11
September 8-9, 2014
Intro to Marketing
Mr. Bernstein
What is Marketing?
Planning and executing the conception, pricing,
promotion and distribution of ideas, goods and
services…that satisfy individual and organizational
needs. (AMA)
Creating and maintaining a satisfying relationship of
exchange
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Intro to Marketing
Mr. Bernstein
The Four P’s
“place” =
“distribution”
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Intro to Marketing
Mr. Bernstein
The Four P’s
Product
What will your Target Market buy?
Is your product quality competitive with customer
alternatives?
Does branding affect perceptions of quality?
Pricing
Costs and Expenses
Competition
Supply and Demand – Economic Conditions, Inventory
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Intro to Marketing
Mr. Bernstein
The Four P’s
Place
HOW and WHERE products are offered or distributed
What is your competitors’ distribution method?
Does branding affect perceptions of quality?
Promotion
Advertising
Promotional campaigns
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Intro to Marketing
Mr. Bernstein
Types of value or “Utility”
Form
Place
Time
Possession
Information
Examples?
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Selling
Marketing-Information Management
Financing
Pricing
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Designing, Developing, Maintaining, Improving and
Acquiring Products to meet customer needs
Distribution
Selling
Marketing-Information Management
Financing
Pricing
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Determining the best way to get products and services
to customers
Selling
Marketing-Information Management
Financing
Pricing
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Selling
Direct and personal communication with customers to
access and satisfy their needs
Marketing-Information Management
Financing
Pricing
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Selling
Marketing-Information Management
Gathering and using information about customers to
improve business decision-making
Financing
Pricing
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Selling
Marketing-Information Management
Financing
Budgeting for advertising but also providing financing
for customers to purchase products and services
Pricing
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Selling
Marketing-Information Management
Financing
Pricing
Process of establishing and communicating the value
or cost of good and services
Promotion
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Intro to Marketing
Mr. Bernstein
Seven Key Marketing Functions
Product/Service Management
Distribution
Selling
Marketing-Information Management
Financing
Pricing
Promotion
Using advertising and other forms of communicating
information about products, services, images and
ideas to achieve a desired outcome
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