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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

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examining marketing and business the functions of marketing

Examining Marketing and Business The Functions of Marketing

Marketing I

Competency #39- Explain the functions involved in marketing goods and services

marketing functions
Marketing Functions
  • Selling
  • Marketing-information management
  • Market planning
  • Pricing
  • Promotion
  • Product/Service management
  • Distribution (channel management)
selling
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
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
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
Pricing
  • Determining how much to charge for product/service
  • Price for profit
  • Pricing strategies and decisions involve:
  • Cost plus mark-up percentage
  • Competitor price
  • Customer perception of value
promotion
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
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
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
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 class

50 Points