Work the Big Six Marketing Functions
Objectives • Explain the marketing functions (i.e. The Big Six) • Marketing function activity • Name That Function! worksheet
Marketing functions are… interrelated activities that must work together to get goods and services from producers to consumers.
Product/Service Management • Obtains, develops, maintains, and improves a product or service mix in response to market opportunities. • Responsible for a product’s life cycle • Generates ideas for new products http://www.youtube.com/watch?v=kMkd3N1MKLE
Marketing-Information Management • Gathers, accesses, synthesizes, evaluates, and disseminates information for use in making business decisions.
Pricing • Determines and adjusts prices to maximize return and meet customers’ perceptions of value. How much should we charge? This question is not always easy… Businesses must consider many factors These factors must be monitored constantly
Distribution • Moves, stores, locates, and/or transfers ownership of goods and services. • Transporting • Receiving • Storing
Promotion • Communicates information about goods, services, images, and/or ideas to achieve a desired outcome. • Businesses use various methods to communicate. • Advertising • Publicity • Sales Promotion
Selling • Determines client needs and wants and responds through planned, personalized communication that influences purchase decisions and enhances future business opportunities. • Can take place: (1) on a personal level, face-to-face and (2) on a non-personal level.
Activity • Work in 6 groups • Each group will have one of the “Big 6” marketing elements. • Create a poster highlighting 4 activities associated with your element and the importance of each of those 4 activities. • At the bottom of your poster, write why you think your element is more important than the other five elements. • Present your poster to the class
Ray Wilson Group Work Work in your same groups Read the “The Functions Made This!” handout Answer the 7 questions on a separate sheet of paper Write all group members names on the paper
Nature of marketing opens the door to ethical problems. • How is a business to know what is ethical? • Okay to promote an existing product as new? • Okay to limit sale items to encourage customers to buy more expensive items? • Okay to say a product works in all situations? • What do you think?
Name That Function! worksheet • Do individually