Introduction to Marketing
Unit 1: The World of Marketing
Chapter 1: Marketing is All Around Us
Objectives
1. Define Marketing.
2. Explain the four foundations of marketing.
3. List the seven functions of marketing.
4. Explain the concept of utility.
5. Define target market
6. List the components of the marketing mix.
Key Terms
marketing
goods
services
marketing concept
utility
market
consumer market
industrial market
market share
target market
customer profile
marketing mix
Study Organizers
Vocabulary Review
Facts and Ideas Review
Marketing Application
Spreadsheet Application
1.
Define Marketing
2.
Four Foundations
3.
Seven Functions
Examples
Economic Benefits of Marketing
1. __________ and _______________ products.
2. Lower ____________________.
3. Added value and ____________________.
Five added values or utility:
1.
_______________ utility –
2.
_______________ utility –
3.
_______________ utility –
4.
_______________ utility –
5.
_______________ utility –
Math
A customer purchases two tables at $149.99 each and would like them to be delivered.
Your company charges $50 for delivery and the state imposes a 5 percent sales tax on
furniture, but not on the delivery charge. What is the total amount due from the
customer?
_____________________________
Market Share—Target Market—Market Segmentation
Customer Profile