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 Monday night to see your
undefeated Freshman football team play
Dominion. Our football team has beat their
previous opponents by a combine score of
133-0. Let’s Go Falcons – show your support
next week!
Student writes 2 more examples in notes

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

Product/service management: “obtaining,
developing, maintaining, and improving a product
or product mix in response to market
opportunities”
◦ Product changes overtime to meet the need of customers


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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Target Market: “focuses all marketing
decisions on the specific group of people you
want to reach”
EXAMPLE: The Target Market for the School
Store is high school students, parents, and
Falcon fans.
Student writes 2 more examples in notes of
what they are the Target Market for
VOCAB TERM
1. Marketing
1.
2.
3.
4.
5.
6.
7.
DEFINITION
PHOTO
the process of developing,
promoting, and
distributing products in
order to satisfy customer
needs & wants
You will draw a photo of
something that helps you
remember this term –
keep it simple!
Vocabulary Terms:
Marketing
Products
Goods
Services
Exchange
6 marketing functions (list all 6)
Target market