Marketing Today
Marketing
Chapter 1
Warm-Up

What type of marketing activities do
you see everyday?

Are you involved in marketing? If so,
how? If not, why not?
Why Study Marketing?


To learn how businesses use
marketing to increase their
effectiveness and profits
Improve personal marketing skills
All Businesses Use Marketing
Businesses
Businesses with
Directly Involved Major Marketing
in Marketing
Activity
Businesses with
Limited
Marketing Roles
Advertising Agencies
Retailers
Law Offices
Sales Reps.
Manufacturers
Physicians
Marketing Research
Firms
Banks
Government
Agencies
Trucking Companies
Auto dealers
Universities
Marketing Functions
Distribution
Pricing
Info.
Mgt.
Seven Functions of Marketing

Product Management


Distribution


Getting product from manufacturer to final
customer
Selling


Design/development of products
Direct personal communication with customer
Information Management

Obtaining information to improve performance
Seven Marketing Functions

Financing


Pricing


Budgeting for marketing activities or
providing financing to customers
Communicating the value of products
Promotion

Communicating information about
product to consumers through
advertising or other promotional
methods
Warm - Up

Use complete sentences to answer
the following:


What does it mean to be self sufficient?
What is bartering? Give an example.
What is Marketing?

The creation and maintenance of
satisfying exchange relationships
The Marketing Concept

Using the needs of customers as the
primary focus during the planning,
production, distribution, and
promotion of a product
The Marketing Concept

Elements of the Marketing Concept



Identify customer needs
Develop and market products or
services
Operate a business profitability
Warm-Up

Read the definition of marketing on
page 9, then answer the following:

What is the key attribute of the
exchange relationship that marketers
seek to create and maintain?
The Need for Marketing


First businesses developed
marketing to improve exchange
What if a company has a great
product? Is there a need for
marketing?

Yes – if customers do not know about
the product then they cannot buy the
product…
Marketing and the Development of
Business

Self Sufficient


Bartering


Do not rely on others for the things
needed in order to survive
Exchanging products
Specialization of Labor

Concentrating on one or a few activities
Marketing and the Development of
Business

Money Systems


Use of currency as a recognized
medium for exchange
Central Markets

Location where people bring products
to be conveniently exchanged
Warm-Up

Write an example of a business
implementing the marketing
concept.
The Functions of Business

Production




Creates or obtains products for sale
Raw Materials
Processing
Merchandising

Offering products produced by others for
sale to customers


Wholesalers
Retailers
The Functions of Business

Operations

Makes sure that business is running


Takes care of the facility
Accounting/Finance

Creates budget and maintains financial
well-being of company
The Functions of Business

Management/Administration


Marketing


Sets objectives and goals for business
Ensures effective exchange
Coordination of Business Functions

You must have all functions working
together to have a profitable and
successful business
Warm-Up

For the following Business functions
give an examples of specific
businesses using each function:



Production
Operations
Accounting/finance
Warm-Up

If a business is the sole producer of
a product that its customers need,
why should it bother with
implementing the marketing
concept?
Implementing the Marketing Concept


Identify the Market
Develop a Marketing Mix




Product
Distribution
Price
Promotion
Warm-Up

Answer questions 1 – 8 pages 26 –
27 in the Marketing Textbook
Activity

In groups of 2 - 3


Select a product or service that you
buy frequently (select one for your
group)
Write down ways to improve the
product or service’s marketing mix

Explain how the suggested improvements
would increase the satisfaction of both the
consumers and business (or businesses
that market the product/service)
Warm-Up