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

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

4. Need v. Want

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

6. Wants
WANTS- something that you desire
Example: Soda
List 5 wants

7. Goods and Services purchased by customers
PRODUCTS
Goods and Services purchased by customers

8. GOODS
Goods are tangible:
You can touch them
List 5 goods

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

10. EXCHANGE
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

11. Turn in Activity for Class Grade
Checkpoint Activity
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

12. Example Time Activity Want v. Need Good v. Service Exchange?? 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

13. Time
Activity
Want v. Need
Good v. Service
Exchange??
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

14. Up Next: The Marketing Functions
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