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
• Distribution (channel management)
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
• 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
• 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
• 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
• 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
• 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
• Deciding how to get product in customers’
hands
• Physically moving and storing products
• Methods of transportation
• Tracking products at all times
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