Transcript What Is Marketing - Westmoreland Central School

UNIT 2 What Is Marketing
What You'll Learn
 The meaning of marketing
 The foundations of marketing
 The functions of marketing
KEY TERMS
 Marketing –
 Products  Exchange -
1
1
What Is Marketing
What Is Marketing
Marketing is the process of _________,
promoting, and distributing _________ to
satisfy customers' _________ and needs.
1
2
What Is Marketing
Products = ______, Services, or ideas
Goods: Hammers, automobiles, soda pop,
clothing, and computers
________: Dry cleaners, amusement parks,
attorneys, and movie theaters
Ideas: Political Campaigns, education
1
3
What Is Marketing
Marketplace: Where _______ and _______
are made available for exchange
_________: Buying or selling of a good or
service (product)
1
4
Graphic Organizer
Marketing Functions
(7 Functions)
Producers
Financing
________
Marketing-Information Management
Product/Service Management
________
Distribution
Selling
1
Consumers
5
What Is Marketing
Functions of Marketing
Distribution
where and to _____ products need to
be sold in order to reach the final ____.
Financing
getting the money ______ to ___ for the
operation of a business.
Slide 2 of 4
1
6
What Is Marketing
Functions of Marketing
Marketing-Information Management
getting the necessary information to
make sound business decisions.
Pricing
dictates ___ ____ to charge for
goods and services.
Slide 3 of 4
1
7
What Is Marketing
Functions of Marketing
Product/Service Management
obtaining, developing, maintaining,
and improving a ______.
Slide 3 of 4
1
8
What Is Marketing
Functions of Marketing
Promotion
____________ with _________
customers to inform, persuade, or
remind
Selling
is providing customers with goods
and services they _____.
Slide 4 of 4
1
9
What Is Marketing
Functions of Marketing (7 Functions)
These functions define marketing as it is
applied in business __________.
 Distribution
 Financing
 Marketing-Information Management
 Pricing
 Product/Service Management
 Promotion
 Selling
Slide 1 of 4
1
10
What Is Marketing
Why It's Important
To be successful in business requires being
_________ oriented. Learning how
businesses and people operate from a
marketing point of view will help you in all your
future endeavors. You will also get a good
idea of whether marketing is a potential
_______ for you.
1
11
What Is Marketing
Foundations of Marketing (4 Foundations)
Building on these four __________ helps you to
acquire marketing skills that are relevant to your
own career development.
 Business, Management, and
Entrepreneurship
 Communication and Interpersonal Skills
 Economics
 Professional Development
Slide 1 of 3
1
12
What Is Marketing
Foundations of Marketing
Business, Management, and Entrepreneurship
Understanding the _______ of business,
management, and entrepreneurial concepts
that affect business decision making.
Communication and Interpersonal Skills
Understanding ________, strategies, and
systems needed to interact _________
with others.
Slide 2 of 3
1
13
What Is Marketing
Foundations of Marketing
Economics
Understanding the economic __________
and concepts that are basic to marketing.
Professional Development
Understanding concepts and strategies
needed for _______ exploration,
development, and growth.
Slide 3 of 3
1
14
Economic Utilities
Economic Benefits of Marketing
Bridges the gap between _____ and the
______ or seller of an item.
Makes buying ____ for customers.
Creates new and ________ products at
lower prices.
1
15