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Marketing

Marketing . The process of Developing , Promoting , and Distributing products to satisfy customers’ needs and wants. The way businesses let customers know about their products is through marketing. Marketing Terms. Products are goods and services, both of which have monetary value.

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Marketing

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  1. Marketing The process of Developing, Promoting, and Distributing products to satisfy customers’ needs and wants.

  2. The way businesses let customers know about their products is through marketing

  3. Marketing Terms • Products are goods and services, both of which have monetary value. • Goodsare things you can touch or hold in your hand. • Servicesare things that you can’t physically touch; are performed for a customer. • Exchange is what happens every time something is sold in the marketplace.

  4. Functions of Marketing

  5. Functions of Marketing • Distribution involves deciding where and to whom products need to be sold in order to reach the final users. • Financing is getting the money that is necessary to pay for the operation of a business. • Marketing Information Management is getting the necessary information to make sound business decisions. • Pricing decisions dictate how much to charge for goods and services in order to maximize profits. • Product/Service Management is obtaining, developing, maintaining, and improving a product or a product mix in response to market opportunities • Promotion is communication with potential customers to inform, persuade, or remind them about a business’s products. • Selling provides customers with goods and services they want.

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