MARKETING Indicator Understand marketing’s role and functions in business to facilitate economic exchanges with customers.

 The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.  Basically EVERYTHING that happens to get a product to you!

 Marketing's role in a private enterprise system allows for you to be aware of, have access to, and the ability to purchase the goods and services you may want/need.

 If marketing did not exist, society would be reduced to self sufficiency again   Makes our lives better  Promotes using the earth’s resources more wisely  Encourages trade between nations

 Based on the belief that all business activities should be aimed toward satisfying consumer wants and needs while achieving company goals.  The right product, in the right place, at the right time, at the right price!

 Customer Orientation  Company Commitment  Company Goals.

 Marketing activities include planning, pricing, promotion, and distributing.  Categories of marketing include Goods--durable or nondurable, Services, Organizations, Places, Ideas, People, almost anything !

 Everyday  Through people, places, and communication.

FUNCTION: CHANNEL MANAGMENT  The process by which a producer or supplier directs marketing activity by involving and motivating parties comprising its channel of distribution.

FUNCTION: MARKETING INFORMATION MANAGEMENT (MIM)  A marketing function that involves gathering, accessing, synthesizing, evaluating, and disseminating information to aid in business decisions

FUNCTION: PRICING  A marketing function that involves the determining and adjusting of prices to maximize return and meet customers ’perceptions of value

FUNCTION: PRODUCT/SERVICE MANAGMENT  A marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities

FUNCTION: PROMOTION  A marketing function needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome

FUNCTION: SELLING  A marketing function that involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities

 Make a list of all of the goods and services that you have used in the past 24 hours, and respond to the following questions:  a.How did you come to use these goods/services?  b.How did you find out about these goods/services?  c.Where did you obtain these goods/services?  d.How much did these goods/services cost?