How is selling today different from selling a hundred years ago?

Marketing Basics

Marketing is… An organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

What are some places/ ways that you are exposed to marketing?

All businesses market Some directly – Advertising agencies – Marketing research firms Transportation – Trucking – Railroad – Air Freight – Shipping/Delivery Financial Companies – Credit cards – Business loans

Marketing Function Product & Service Management DistributionSelling Marketing Information Management Financial Analysis PricingPromotion

Product and Service management Designing Developing Maintaining Improving Acquiring products and services that meet customer needs

Distribution Determining the best way for customers to Locate Obtain Use products

Selling Communicating directly with potential customers Face to face Telephone Computer Video confrencing

Marketing-Information Management Obtaining Managing Applying information to improve decision making and improve marketing activities.

Financial Analysis Budgeting Obtaining Finances Creating payment options – Then making sure they get paid

Pricing Setting price – Easy to see – Comparable – Make a profit Communicate value – What are they getting for the price

Promotion Communicate to customers – Advertising TV Radio Magazines Newspapers Direct Mail Internet

Total Product Concept use all 7 functions when designing a strategy.

Activity Split into 7 different groups (4 in each) Each group will be assigned a function The company is…