marketing functions of marketing unit 2, lesson 1 copyright © texas education agency, 2012. all...
TRANSCRIPT
Marketing
Functions of Marketing
Unit 2, Lesson 1
Copyright © Texas Education Agency, 2012. All rights reserved.
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Marketing Functions
GoalStudents will be able to
Explain the marketing conceptDescribe each marketing function and how it
illustrates the marketing conceptExplain each component of the marketing mix Illustrate the importance of marketing strategies
in the marketing mixExplain the importance of target markets.
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Marketing Functions
Terms to knowMarketCustomer ConsumerMarketing ConceptMarketing FunctionsMarketing MixTarget Market
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Marketing Functions
Marketing ConceptBusinesses must satisfy customers’ needs
and wants in order to make a profit.
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Marketing Functions
CustomersPurchase products
ConsumersConsume products
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Marketing Functions
MarketAll 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 MixFour P’s
ProductPlacePricePromotion
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Marketing Functions
Marketing MixProduct includes all aspects of the product
Type of productPackagingWarranties
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 MixPlace 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
FinancingPricingPromotionProduct/Service ManagementDistributionSellingMarketing Information Management
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Marketing Functions
FinancingGetting the money necessary to pay for the
operation of the businessLoansSell stock
Offering credit to customersCredit cardsFinance goods/services
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Marketing Functions
PricingHow much to charge for goods/services
Maximize profitCompetitive pricingGaining market shareCreating customer perception of value
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Marketing Functions
Promotion Inform, persuade, or remindAdvertising – television, radio, magazinesCan be used to improve companies imageCommunicate information about product,
services, images
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Marketing Functions
Product/Service ManagementObtaining, developing, maintaining, and
improving a product, product mix, or service.
Decisions made mostly on marketing research.
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Marketing Functions
DistributionDeciding 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
SellingProving customers with goods and services
they want.Retail selling Industrial or business-to-business sales.
Determine customers needs and wantsRespond through planned, personalized
communication that influences customersEnhance future business opportunities
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Marketing Functions
Marketing Information ManagementMost information from marketing researchQuestionnaire’s about service or products. Information used to determine customers
preferences.
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Picture Sources
http://www.sxc.hu/photo/717442http://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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