1. Identify and define the 5 different utilities of Marketing.
Eagle Challenge
Can you name the 7 functions of Marketing?
Learning Target
Identify and define the 5 different utilities of Marketing.

2. The 7 functions of Marketing!
Selling
Distribution
Product Service Management
Promotion
Pricing
Financing
Marketing Information Management

3. Utility refers to the VALUE or USEFULNESS of a product or service

4. Types of Utility
FORM
Changing raw materials or putting parts together to make them more useful.
Trees ….. Pencils, paper
Flour, sugar, butter … Bread

5. Place Utility Having a product WHERE customers can buy it
Stores, Catalogs, Internet

6. Time Utility
Having a product available at a certain time of year or a convenient time of day.
Shopping / Banking hours
Toys at Christmas
School supplies in August

7. Possession Utility The exchange of a product for some monetary value
Cash, Debit, Credit, Check, Financing plans etc.
Adds value to the product. Without options, some customers could not buy.

8. Information Utility Communication with the consumer
Encourages sales through special offers, signs, ads, labels, manuals etc.

9. Marketing Concept
A business should strive to satisfy customers’ needs and wants while generating a profit.
Customer focused
Repeat customers = profit

10. Fundamentals of Marketing
Businesses must satisfy customers’ needs and wants in order to make a profit
….right products at the right price at the right time and in the right place….

11. CUSTOMERS: CONSUMERS: They BUY the products
They actually USE the product
SONY…..Sony’s customers are the retail stores that sell Sony products. The consumers buy Sony products from the retailer.

12. What is a market?
All potential customers who have the ability and willingness to buy a product
Video Game Market would be all people who purchase video games
Target market…
A very specific group of people that a business wants to reach.

13. Customer profiles….
Information about where and how a person lives and what he/she wants and needs.
Age, Income level, Occupation
Ethnic groups – culture, history
Hispanic’s consider music a major part of their culture
70% are Roman Catholic

14. Marketing mix “4 p’s of marketing”
Product
Price
Place
Promotion