what is marketing section 1.1 marketing? most visible business function… …least understood...

What is MarketingSection 1.1

Marketing?• Most visible business function…• …least understood business function• American Marketing Association def. – planning and executing the

conception, pricing, promotion, and distribution of ideas, G&S to create exchanges that satisfy individual & organizational objectives.

Marketing?• Is Marketing simply Advertising?

• One of the main objectives of any business (especially in Marketing) is to take care of the customer’s needs.

Marketing Mix• The Marketing Mix helps you to take care of almost all marketing

activities.• Product – what are you offering your customers?• Price – what price are you charging for your product / service?• Place / Distribution – where is your product available to customers• Promotion – how do the customers know about your product / service?

Marketing Mix• Video on the 4 P’s

Super Bowl Mix• The Super Bowl is THE sports event of the year• Describe the Marketing Mix in terms of how it relates to this grand

event:• Product – • Price – • Place / Distribution – • Promotion

How do you decide?• There are many things to consider when trying to sell your product(s)

to your customers:• Discretionary income

• Why is this so important to Sports & Ent. Marketing?• Price• Distribution

Cyber Marketing• With new technologies popping up all the time, live cybercasts of

concerts are viewed and heard all around the world through the internet.• Movie companies broadcast movie trailers over the Net and market

movie-related merchandise to consumers.• To see some of these videos you first have to type some personal info about

yourself.• How do marketing companies use this info to better promote their products?

Core Standards of Marketing• EVERY marketing activity includes at least 1 of the following:• Distribution• Marketing Information Management• Pricing• Product / Service Management• Promotion• Selling