1. October 5 & 6, 2016
OBJECTIVES
Describe trends in marketing
Explain the functions involved in marketing goods and services
HOMEWORK
None
Sept. Wage and Hour sheet due 10/5
TODAY’S AGENDA
Marketing Functions- identify the 7 types Functions Activity
Demonstrate understanding with WS
CLOSURE
Answer the following ?’s:
How does each function affect a business?
Which of the functions focus on the consumer?

2. The 7 Marketing Functions
Marketing Co-Op

3. Financing Pricing Selling Promotion Distribution
Marketing Information Management
Pricing
Selling
Promotion
Product/Service Planning
Distribution

4. Financing
Getting the money needed to finance the operation of a business
Decisions regarding payment options for customers

5. Marketing Information Management
Process of getting and analyzing the marketing information needed to make good decisions
Information Collected
Customer’s trends
Habits
Attitudes
Where they live

6. Pricing
The decisions that dictate how much to charge for goods and services in order to make a profit
Usually based on
Costs
What competitors are charging
How much customers are willing to pay

7. Product/Service Management
Obtaining, developing, maintaining, and improving a product or product mix in response to market opportunities

8. Promotion
Any form of communication used to informing, persuading or reminding potential customers about a business’s products or services
Examples
Advertising – Radio and TV
Publicity – Improving public image (recycling, going green, etc.)

9. Selling Providing customers with goods and services they want to buy
Types of selling
Retail
Business to Business
Personal

10. Distribution
Making decisions about where to sell the product and how it will get into the customer’s hands