1. Chapter 1 – Section 1 Defining Marketing
What You’ll Learn
Types of Businesses
Definition of Marketing
Foundations of Marketing
Functions of Marketing
Marketing Concept

2. BUSINESS: An activity that satisfies economic needs by:
planning
organizing
controlling resources
to produce and market goods and services.
List 5 businesses that are service oriented.
List 5 businesses that are manufacturing oriented.
List 5 businesses that are retail oriented.
WHAT MAKE EACH VALUABLE TO THE COMMUNITY--
satisfies different needs and wants
contributes to the economic well being of the community
provided taxes
provides wages
profit for the owners
Chapter 4 will establish roles in business--production, marketing, management
and the social responsibility of business.

3. 95% of all US businesses are classified as “small” businesses.
These small businesses employ over one-half of the private sector work force.

4. Profit Non-profit
What’s the difference between profit and non-profit organizations?
Who gets the profit in each?
List some local non-profit businesses.
Service organizations who operate without the intent of gaining a profit for the owners.

5. NON-PROFIT BUSINESSES
Charitable institutions that operate with many of the characteristics of businesses but are not intended to earn a profit. All income remaining after expenses goes to a charitable cause.
Public Sector - government agencies and services such as public schools.
Private Sector - charitable organizations not government run such as United Way.

6. What is Marketing?
Marketing is the process of planning, pricing, promoting, selling and distributing products to create exchanges to satisfy customers’ needs and wants
Process means it is ongoing and changes
Marketers need to keep up with trends and consumer attitudes
Marketing functions support the process
Current Marketing practices focus on Customer Relationship Management

7. Ideas, Goods and Services
Products include goods, services and ideas that satisfy customers’ needs and wants
Goods are tangible – you can touch
Services are intangible - tasks that have monetary value performed for a customer
Ideas promote causes, political platforms
Exchange is when something is bought or sold in the marketplace

8. Foundations of Marketing
Professional Development
Economics
Business, Management, Entrepreneurship
Communication, Interpersonal Skills

9. Foundations of Marketing
Professional Development
Concepts and strategies for career exploration, development and growth
Economics
The economic principles and concepts that are basic to marketing
Business, Management and Entrepreneurship
The basics of business, management and entrepreneurship concepts that affect business decision making
Communication and Interpersonal Skills
The concepts, strategies and systems needed to interact effectively with others

10. Functions of Marketing
Functions address marketing from the perspective of how it is practiced.
Seven functions of marketing:
Distribution
Financing
Marketing Information Management
Pricing
Product Service Management
Promotion
Selling

11. What are the functions? Distribution Financing
Decide where and to whom to sell
Logistics of physically moving products (truck, rail, ship, air)
Storing and tracking products
Financing
Getting money to pay for the operation of the business
Offering credit and other payment options to customers
Marketing Information Management
Getting information to make sound business decisions
Marketing research to learn about customers and ways to better market the products

12. What are the functions? Pricing Product/Service Management Promotion
Decisions regarding how much to charge for products to obtain maximum profits
Based on competition, customers willingness to pay, gaining market share and returns on investment
Product/Service Management
Obtaining, developing, maintaining and improving products or product mixes
Promotion
Communicate information about products, services, images or ideas to achieve a desired outcome
Selling
Determine clients needs and wants and respond through activities that influence purchasing decisions

13. THE FOCUS IS ON THE CUSTOMER
The Marketing Concept
The marketing concept is the idea that a business should strive to satisfy customers’ needs and wants while generating a profit for the firm.
THE FOCUS IS ON THE CUSTOMER
Customer relationship management (CRM) is an aspect of marketing that combines customer information with customer service and marketing communications.
Try to create more meaningful communications

14. Group Activity In Groups of 3 or 4, Create a Powerpoint:
Slides must have:
Name of the function and definition
An image representing the function
An example of the function