Marketing is All Around Us - Ch.1 Marketing is All Around Us

Marketing is All Around Us - Ch.1 What is Marketing? l The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants.

Marketing is All Around Us - Ch.1 Marketing is... l Products –Goods and services. l Goods –Material items you can touch. l Services –A series of tasks performed for a customer.

Marketing is All Around Us - Ch.1 Marketing... Connecting businesses to their customers. l Marketing provides the means for the exchange process. –An exchange takes place every time something is sold in the marketplace.

Marketing is All Around Us - Ch.1 In what ways does marketing affect you every day?

Marketing is All Around Us - Ch.1 Functions of Marketing l Marketing Information Management –Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.

Marketing is All Around Us - Ch.1 It is a process. It involves... Pricing l Items must be priced so that consumers want to buy them. l Price indicates quality and/or value to consumers. l Price must be set to enable businesses to make a profit, but still be able to compete with others.

Marketing is All Around Us - Ch.1 What is Marketed? l Durable Goods - desks, computers, houses l Nondurable Goods - food, cosmetics, gasoline l Services - banking, health care, job placement l People - Athletes, Musicians, Political Candidates l Places - Honeymoon locations, vacations l Organizations - NCAA, Labor unions, Art museums l Ideas - “Pitch in”, “Buckle up for Safety”

Marketing is All Around Us - Ch.1 Why study marketing? l... to understand business l... to learn interpersonal skills l... to perfect communication skills.