Transcript Marketing - cteunt.org

Marketing
Functions of Marketing
Unit 2, Lesson 1
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Copyright
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2
Marketing Functions

Goal

Students will be able to
Explain the marketing concept
 Describe each marketing function and how it
illustrates the marketing concept
 Explain each component of the marketing mix
 Illustrate the importance of marketing strategies
in the marketing mix
 Explain the importance of target markets.

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Marketing Functions

Terms to know
Market
 Customer
 Consumer
 Marketing Concept
 Marketing Functions
 Marketing Mix
 Target Market

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Marketing Functions

Marketing Concept

Businesses must satisfy customers’ needs
and wants in order to make a profit.
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5
Marketing Functions

Customers


Purchase products
Consumers

Consume products
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Marketing Functions

Market

All potential customers who share common
needs and wants, and who have the ability
and willingness to buy the product.
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Marketing Functions

Marketing Mix

Four P’s
Product
 Place
 Price
 Promotion

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Marketing Functions

Marketing Mix

Product includes all aspects of the product
Type of product
 Packaging
 Warranties


Price strategies need to consider how much
a customer is willing and able to pay while
still making a profit.
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Marketing Functions

Marketing Mix
Place strategies must consider where best
to sell the product and which channel of
distribution will be used.
 Promotion strategies must consider how to
inform, persuade, and remind customers
about the product.

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Marketing Functions
Financing
 Pricing
 Promotion
 Product/Service Management
 Distribution
 Selling
 Marketing Information Management

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Marketing Functions

Financing

Getting the money necessary to pay for the
operation of the business
Loans
 Sell stock


Offering credit to customers
Credit cards
 Finance goods/services

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Marketing Functions

Pricing

How much to charge for goods/services

Maximize profit
Competitive pricing
 Gaining market share
 Creating customer perception of value

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Marketing Functions

Promotion
Inform, persuade, or remind
 Advertising – television, radio, magazines
 Can be used to improve companies image
 Communicate information about product,
services, images

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Marketing Functions

Product/Service Management
Obtaining, developing, maintaining, and
improving a product, product mix, or
service.
 Decisions made mostly on marketing
research.

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Marketing Functions

Distribution
Deciding where and to whom to sell
product.
 Physically moving and storing product.
 Primary methods of transportation are truck,
rail, air, and ship.
 Includes systems that track products

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Marketing Functions

Selling
Proving customers with goods and services
they want.
 Retail selling
 Industrial or business-to-business sales.

Determine customers needs and wants
 Respond through planned, personalized
communication that influences customers
 Enhance future business opportunities

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Marketing Functions

Marketing Information Management
Most information from marketing research
 Questionnaire’s about service or products.
 Information used to determine customers
preferences.

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Picture Sources
http://www.sxc.hu/photo/717442
 http://www.sxc.hu/photo/978940
 http://www.sxc.hu/photo/662389
 http://www.sxc.hu/photo/189883
 http://www.sxc.hu/photo/1115856
 http://www.sxc.hu/photo/854196
 http://www.sxc.hu/photo/854196
 http://www.sxc.hu/photo/1128414

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