Introduction to Business & Marketing
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What is Marketing?
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Need v. want
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Good v. service
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Exchange
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Marketing Functions: All activities that allow
companies to bring products to the market
for exchange
1.
2.
3.
4.
5.
6.
Pricing
Selling
Distributing
Promoting
Marketing information management
Product/service management
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Pricing: “means deciding how much to charge
for goods & services”
EXAMPLE: a snickers bar is $1 in the School
Store
Student writes 2 more examples in notes
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Selling: “providing customers with goods &
services they want to buy”
EXAMPLE: The Nike store sells Nike Air
Pegasus shoes.
Student writes 2 more examples in notes
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Distributing: “involves making decisions
about where to sell your product and method
of transportation to use (i.e. train, plane,
automobile)”
EXAMPLE: Surfboards arrive via plane from
Hawaii and are sold on 17th street in VA
Beach.
Student writes 2 more examples in notes
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Promoting: “any form of communication used
to inform, persuade, or remind people about
a business’s products”
EXAMPLE: Come out next Monday night to see
the Briar Woods PowerPuff football team play.
This year we have the Juniors v. Seniors in a
battle you don’t want to miss. Plus the halftime show is rumored to be classic … don’t
miss kickoff at 3pm!
Student writes 2 more examples in notes
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Marketing Information Management: “is the
process of getting the marketing information
needed to make sound business decisions”
◦ SURVEYS ARE USED!!!
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EXAMPLE: sweetFrog hands out surveys for
customers to complete online based on
potential flavors. These results are used to
make decisions on what new flavors to add.
Yummy!
Student writes 2 more examples in notes
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Product/service management: “obtaining,
developing, maintaining, and improving a product
or product mix in response to market
opportunities”
◦ Product changes overtime to meet the needs of customers
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EXAMPLE: The iPod has changed over the last 7
years. It was originally bulky and only
black/white; next a smaller/color version called
the Nano; next a video iPod; next a smaller Nano;
finally iPhone.
Student writes 2 more examples in notes
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Students will use the Internet to complete the
following activity that applies their knowledge of
the marketing functions.
Students will choose a product (good or service),
and identify the company that produces this
product. Using the Internet to conduct research,
students will identify how the company applies
each of the marketing functions in developing,
producing, promoting, and distributing the
product. Each student will complete the
questions below and submit for a class activity
grade.