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Marketing Co-op
The idea that a business should strive
to satisfy customers’ needs and wants
while generating a profit for a firm.
All the marketing
functions make up the
marketing concept.
Raises
the standard of living
Improves
Makes
the quality of life
buying convenient
Maintains
Provides
Increases
reasonable prices
a variety of goods and services
production
The 5 P’s of Marketing
People
Promotion
Place
Product
Price
•People – the target market
•Product – what is the product – name, packaging, etc.
•Price – what customers are willing and able to pay
•Place – where is it sold and how it gets there
•Promotion – how is the product marketed
Pricing
Distribution
Promotion
Marketing
Functions
Financing
Selling
Product &
Service
Management
Marketing
Information
Management
Obtaining the financial resources needed to
promote a business or it’s products/services
Decisions regarding offering
credit (payment options) to
customers
Process of getting and analyzing the
marketing information needed to make
good decisions
This info. must be stored and analyzed
The decisions that dictate how much
to charge for goods and services in
order to make a profit
Based on costs - what competitors are
charging, and how much customers are
willing to pay
Obtaining, developing, maintaining, and
improving a product or product mix in response
to market opportunities
Guides management
toward what the consumer
needs and wants
Any form of communication used to
informing, persuading or reminding
potential customers about a business’s
products or services
Ex. Advertising – radio & TV commercials
Publicity – improves a public image
i.e. ad for recycling or cleaning up the
environment
Providing customers with goods
and services they want to buy
Types of selling
Retail
Business to Business
Personal
The process of deciding how to get
goods into consumers’ hands.
How do the goods get in the customer’s hands?
Main Methods: Truck, Rail, Ship & Air