1. Marketing Functions

2. 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

3. Pricing
Pricing: “means deciding how much to charge for goods & services”
EXAMPLE: a snickers bar is $1 in the School Store

4. Selling
Selling: “providing customers with goods & services they want to buy”
EXAMPLE: The Nike store sells Nike Air Pegasus shoes.

5. Distributing
Distributing: “involves making decisions about where to sell your product and method of transportation to use (i.e. train, plane, automobile)”
EXAMPLE: Surfboards arrive via plane from Hawaii and are sold on 17th street in VA Beach.

6. Promotion
Promoting: “any form of communication used to inform, persuade, or remind people about a business’s products”
Example:
Advertising (paid- commercials, Ads, etc)
Sales Promotion
Direct Mail
Internet and Social Media

7. Marketing Information Management
Marketing Information Management: “gathering market information about customers, trends and competing products”
Examples: customer surveys

8. Product/Service Management
Product/service management: “obtaining, developing, maintaining, and improving a product in response to market opportunities”
Product changes overtime to meet the need of customers
EXAMPLE: The iPod has changed over the last 7 years. It was originally bulky and only black/white; next a smaller/color version called the Nano; next a video iPod; next a smaller Nano; finally iPhone

9. Marketing Functions Activity
Students will work individually to complete the following:
Choose a product and research each of the functions of marketing for that product:
Pricing
Selling
Distributing
Promoting
Product/service management
Marketing information management