Introduction to Business and Marketing.  On a piece of paper write down what you think Marketing is?  Let’s discuss what you think …

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Presentation transcript:

Introduction to Business and Marketing

 On a piece of paper write down what you think Marketing is?  Let’s discuss what you think …

Marketing is the process of developing, promoting, and distributing goods and services to meet customer wants and needs.

 NEEDS- something that is essential; that you must have  Example: Water  List 5 needs

 WANTS- something that you desire  Example: Soda  List 5 wants

 Goods and Services purchased by customers

 Goods are tangible: You can touch them  List 5 goods

 Services are intangible: You cannot touch them!  List 5 services Accounting Services Sports Agent

 Exchange takes place every time something is sold in the marketplace.  Marketing helps connect businesses to their customers  We experience marketing principles everyday in our lives

 How do you experience marketing in your life?  What kinds of marketing experiences do you encounter just through your daily routine?  On a piece of paper, write down your daily routine. Use a timeline!  Think about how each activity that you do, relates to marketing:  Needs VS Wants  Goods VS Services  Exchanges Turn in Activity for Class Grade

TimeActivityWant v. NeedGood v. ServiceExchange?? 6:00 AM Wake-up to Alarm Clock Used a Good (alarm clock) that I purchased to wake me up 6:15 AM-6:30 AM Drink Coffee and watch the news Coffee is a “want”- could exist without it, but it wouldn’t be pleasant Used Keurig Single Service coffee maker Purchased coffee at grocery store to have each morning

TimeActivityWant v. NeedGood v. ServiceExchange?? 6:00 AM Wake-up to Alarm Clock Used a Good (alarm clock) that I purchased to wake me up 6:15 AM-6:30 AM Drink Coffee and watch the news Coffee is a “want”- could exist without it, but it wouldn’t be pleasant Used Keurig Single Service coffee maker Purchased coffee at grocery store to have each morning 6:00 am - wake up 6:30 am – watch news/eat breakfast 7:00 am – leave house for school 7:45 am – arrive at school 9:00 am – school starts 12:15 pm – eat lunch 4:00 pm – leave school 5:30 pm – eat dinner 6:00 pm – watch news 9:00 pm – go to bed

 Marketing Functions: All activities that allow companies to bring products to the market for exchange ◦ Pricing ◦ Selling ◦ Distributing ◦ Promoting ◦ Product/service management ◦ Marketing information management