THE MARKETING CONNECTION

Goals Understand several key concepts of marketing Learn the 7 marketing functions Learn the 4 elements of the promotional mix.

Marketing is Everywhere Look around the room- how many students have clothes or shoes with logos? Have you ever based a look or hair style off a celebrity? Have you ever worked in retail? Posted fliers? Convinced your friends to do something?

Marketing Marketing- the process of determining and satisfying the needs and wants of customers.

The Key Functions of Marketing

1. Product/ Service Management Designing, creating, improving, and maintaining products and services that satisfy customers needs.

2. Distribution Getting the product or service to the customer the best way possible. This includes everything from the factory to your hands.

3. Selling Direct contact with customers to determine their needs and satisfy these needs. * a salesperson

4. Market Research The process of gathering and using information about customers to improve business decisions Example: Surveying

5. Financing The process of getting the money to make and market the product/ service EX: getting a business loan from a bank. Selling stock

6. Pricing The process of deciding how much a product/ service will cost a customer

7. Promotion The communication to inform, persuade, and remind consumers to buy a product/service.

Marketing, Society, and You Every business is involved in marketing. Marketing is everywhere from the billboard you see..... To the truck transporting products.......

To the location of the store you go to .... To the cashier at the check out counter.... Where we feel the effects of pricing decisions.

Marketing Ideas Like a product or service....ideas can be marketed. Politicians do it to “sell” plans and values to voters.

Marketing Individuals Individuals also use marketing Star athletes market athletic ability and success College applicants market their potential as students Job seekers market their potential as contributing employees

Marketing Yourself in the Workplace You will need to “sell” yourself to.... get into college, apply for scholarships, get a job, get a promotion, convince other people of your ideas.

Employment is an exchange You give your time and skills in exchange for a paycheck and benefits

You must understand your employers needs and wants so that job performance meets or exceeds expectations.

Marketing yourself- Marketing research Self-assessment- understanding your strengths and weaknesses and personal preferences will help you find a good career match.

Marketing Yourself-Promotion How to present yourself in the best light and showcase your value in your resume, job correspondence, and interviews