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History and Functions of Marketing Notes

History and Functions of Marketing Notes. Concepts to Know!. What is marketing? It is a PROCESS of creating a SATISFYING EXCHANGE RELATIONSHIP What is the Marketing Mix (AKA the 4 P’s) Product, Price, Place, Promotion What is a market? PEOPLE who are willing and capable!.

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History and Functions of Marketing Notes

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  1. History and Functions of Marketing Notes

  2. Concepts to Know! • What is marketing? • It is a PROCESS of creating a SATISFYING EXCHANGE RELATIONSHIP • What is the Marketing Mix (AKA the 4 P’s) • Product, Price, Place, Promotion • What is a market? • PEOPLE who are willing and capable!

  3. Types of Products • Goods • Material items you can touch. • Car, TV, clothing, ect. • Services • A series of tasks performed for a customer. • Hair cut, lawn service, car repait

  4. Marketing History

  5. The Development of Markets • Self –Sufficient • People didn’t need others • Bartering • People could trade for what they needed • Specialization of Labor • People did one thing and did it really well • Money Systems • Established currencies to exchange products • Central Markets • Town centers where people brought products to exchange

  6. The Development of Marketing • 1900’s-1920’s Production Era • Few products were available and production processes were very simple • Only focused on product development and distribution • 1930’s-1940’s Sales Era • Effective production, transportation and standard of living increased • Increased competition=focused on sales

  7. As Marketing Developed • 1950’s-1960’s Marketing • Focused on new marketing activities • Golden age of advertising • Prices became competitive and customers offered credit • 1970’s-Today Marketing Concept Era • Listening to consumers • Marketing became a major part of all businesses

  8. The Seven Functions of Marketing

  9. Functions of Marketing • Product and Service Management • Assisting in the design and development of products and services to meet the needs of prospective customers

  10. Functions of Marketing • Marketing Information Management • Gathering, recording, analyzing and disseminating information to aid in making marketing decisions. • Market Research!

  11. Functions of Marketing • Distribution (Channel Management) • The physical movement or the transfer of ownership of a good or service from the producer to the consumer.

  12. Functions of Marketing • Pricing • The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.

  13. Functions of Marketing • Promotion • Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior.

  14. Functions of Marketing • Selling • Direct, personal communications with prospective customers in order to assess needs and satisfy those needs with appropriate products and services

  15. Functions of Marketing • Financing • Determining the need for and availability of financial resources to aid in marketing activities.

  16. Other Marketing Activities

  17. Market Planning • Developing marketing strategies that will reach markets • Risk Management • Providing security for products • MAKING SURE PRODUCTS ARE SAFE! • Try to reduce the risk associated with using it

  18. Partner Activities • Functions of Marketing Graphic Organizer • Marketing Through the Ages Handout

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