11 UNIT 2 What Is Marketing What You'll Learn  The meaning of marketing  The foundations of marketing  The functions of marketing KEY TERMS  Marketing –  Products -  Exchange -

12 What Is Marketing Marketing is the process of _________, promoting, and distributing _________ to satisfy customers' _________ and needs. What Is Marketing

13 Goods: Hammers, automobiles, soda pop, clothing, and computers ________: Dry cleaners, amusement parks, attorneys, and movie theaters Ideas: Political Campaigns, education Products = ______, Services, or ideas

14 What Is Marketing Marketplace: Where _______ and _______ are made available for exchange _________: Buying or selling of a good or service (product)

15 Graphic Organizer Marketing Functions (7 Functions) ProducersConsumers Financing ________ Marketing-Information Management Product/Service Management ________ Distribution Selling

16 What Is Marketing Distribution where and to _____ products need to be sold in order to reach the final ____. Financing getting the money ______ to ___ for the operation of a business. Functions of Marketing Slide 2 of 4

17 What Is Marketing Marketing-Information Management getting the necessary information to make sound business decisions. Pricing dictates ___ ____ to charge for goods and services. Functions of Marketing Slide 3 of 4

18 What Is Marketing Product/Service Management obtaining, developing, maintaining, and improving a ______. Functions of Marketing Slide 3 of 4

19 What Is Marketing Promotion ____________ with _________ customers to inform, persuade, or remind Selling is providing customers with goods and services they _____. Functions of Marketing Slide 4 of 4

110 What Is Marketing These functions define marketing as it is applied in business __________. Functions of Marketing (7 Functions)  Distribution  Financing  Marketing-Information Management  Pricing  Product/Service Management  Promotion  Selling Slide 1 of 4

111 What Is Marketing Why It's Important To be successful in business requires being _________ oriented. Learning how businesses and people operate from a marketing point of view will help you in all your future endeavors. You will also get a good idea of whether marketing is a potential _______ for you.

112 What Is Marketing Building on these four __________ helps you to acquire marketing skills that are relevant to your own career development. Foundations of Marketing (4 Foundations)  Business, Management, and Entrepreneurship  Communication and Interpersonal Skills  Economics  Professional Development Slide 1 of 3

113 What Is Marketing Business, Management, and Entrepreneurship Understanding the _______ of business, management, and entrepreneurial concepts that affect business decision making. Communication and Interpersonal Skills Understanding ________, strategies, and systems needed to interact _________ with others. Foundations of Marketing Slide 2 of 3

114 What Is Marketing Economics Understanding the economic __________ and concepts that are basic to marketing. Professional Development Understanding concepts and strategies needed for _______ exploration, development, and growth. Foundations of Marketing Slide 3 of 3

115 Economic Utilities Bridges the gap between _____ and the ______ or seller of an item. Makes buying ____ for customers. Creates new and ________ products at lower prices. Economic Benefits of Marketing