Introduction to Business & Marketing
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What is marketing?
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What is marketing?
◦ Process of developing, promoting & distributing
goods & services to meet consumer wants & needs
Distribute
Promote
Develop

What is marketing?
◦ Process of developing, promoting & distributing
goods & services to meet consumer wants & needs

Needs vs. Wants

What is marketing?
◦ Process of developing, promoting & distributing
goods & services to meet consumer wants & needs

Needs vs. Wants
◦ Needs = essential
◦ Wants = desired
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Goods vs. services
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Goods vs. services
◦ Goods – tangible (can touch)
◦ Services – intangible (can’t touch)
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Exchange
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Exchange
◦ Takes place every time something is sold in the
marketplace.
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Marketing Functions: All activities that allow
companies to bring products to the market
for exchange.
1.
2.
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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” to make a profit
EXAMPLE: a snickers bar is $1 in the School
Store
Write 2 more examples in your notes
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Selling: “providing customers with goods &
services they choose/want to buy”
EXAMPLE: The Nike store sells Nike Air
Pegasus shoes.
Write 2 more examples in your notes
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Distributing: “involves making decisions
about where to sell your product and the
method of transportation to use (i.e. train,
plane, automobile)”
EXAMPLE: Surfboards arrive via plane from
Hawaii and are sold on 17th street in Virginia
Beach.
Write 2 more examples in your 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 Thursday night to see the
defending state champion Briar Woods varsity
volleyball team take on Robinson in a battle
you don’t want to miss. First serve is 7 pm.
Write 2 more examples
in your 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 distributes surveys for
customers to complete online based on
potential flavors. These results are used to
make decisions on what new flavors to add.
Yummy!
Writes 2 more examples in your 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 over time 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.
Choose a product (good or service).
Identify the company that produces this product.
Use the Internet to conduct research and 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.