examining marketing and business the functions of marketing
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Examining Marketing and Business The Functions of Marketing. Marketing I Competency #39- Explain the functions involved in marketing goods and services. Marketing Functions. Selling Marketing-information management Market planning Pricing Promotion Product/Service management - PowerPoint PPT PresentationTRANSCRIPT
Examining Marketing and Business The Functions of MarketingMarketing ICompetency #39- Explain the functions involved in marketing goods and services
Marketing Functions
•Selling•Marketing-information management•Market planning•Pricing•Promotion•Product/Service management•Distribution (channel management)
Selling• Provides customers with goods and
services they want• Two-way communication; personalized• Form of promotion• Includes determining client needs in order
to lead to purchase decision• Business-Consumer• Business-Business
Marketing Management Information
• Research/gathering information• Continual basis using special marketing
research studies• Find out customer habits, attitudes,
demographics, and trends• Good marketing and business relies on
good information!
Market Planning• Process of analyzing one or more market
place• Gather information to successfully compete• Results in marketing strategy or marketing
plan for increased sales/profit
Pricing
• Determining how much to charge for product/service• Price for profit• Pricing strategies and decisions involve:Cost plus mark-up percentageCompetitor priceCustomer perception of value
Promotion
• Effort to inform, persuade, remind about product/service• Targeted towards potential
customers/target market• Four types of promotion: Selling,
advertising, sales promotion, pubic relations
Product/ Service Management• Developing new product•Maintaining and improving products or
product mix• Obtaining products for resale•Marketing research guides developing
products around customer wants and needs
Distribution(Channel Management
• Deciding how to get product in customers’ hands• Physically moving and storing products•Methods of transportation• Tracking products at all times
Class Activity
• Students will work in a small group of 2-3 people• Using the Internet, students will select a product
and research how each of the marketing functions are applied to that product• Prepare brief PPT presentation to share out with
the class50 Points