1. Bell Ringer
Promotion is only one aspect of marketing. How would you define marketing and all the activities that fall under its umbrella?

2. Marketing!
What’s it all about?

3. Marketing
“The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.”

4. It is a process. It involves. . .
Product (Planning)
Begins with what goods, services, and ideas to produce or sell in order to satisfy consumers’ needs and wants.
Analyzing potential consumers to determine who they are and what items to produce or sell in order to satisfy them.

5. It is a process. It involves. . .
Pricing
Items must be priced so that consumers want to buy them.
Price indicates quality and/or value to consumers.
Price must be set to enable businesses to make a profit, but still be able to compete with others.

6. It is a process. It involves. . .
Promoting
Marketing helps to create and stimulate demand for products by informing people about them.
Advertising, Sales promotion, Publicity, and Personal Selling are forms of promotion.

7. It is a process. It involves. . .
Place (Distributing)
Involves shipping, handling, and storing of items on the way from the producers to the consumer.
Ensures that items are available when and where they are needed.

8. What is Marketed? Durable Goods - desks, computers, houses
Nondurable Goods - food, cosmetics, gasoline
Services - banking, health care, job placement
People - Athletes, Musicians, Political Candidates
Places - Honeymoon locations, vacations
Organizations - NCAA, Art museums
Ideas - “Pitch in”, “Buckle up for Safety”

9. Benefits of Marketing Raises the standard of living.
Adds utility to goods and services.
Makes buying convenient.
Maintains reasonable prices.

10. Benefits of Marketing Improves the quality of life.
Provides a variety of goods and services.
Increases production.

11. Where does Marketing occur?
Marketing is all around us!
All types of businesses use marketing:
Producers
Wholesalers
Retailers

12. Where does Marketing occur?
It occurs in service-selling businesses.
Examples:
Banks, Real estate agencies, Hospitals, Dentists, Hotels/Motels, etc...
It occurs in nonprofit organizations.
Churches, Universities

13. Marketing Concept
To succeed in business, managers must base their decisions on the needs and desires of consumers.
Businesses must give consumers what they want.

14. Why is Marketing Important?
Increased buying power of consumers.
Need for coordinating production and consumption.

15. Why is Marketing Important?
One-third of all workers are in marketing jobs.
Majority of businesses in the US are marketing-type businesses.
Fifty cents of every sales dollar goes to cover the costs of marketing.

16. Without Marketing. . . Increased personal contact with businesses.
Less variety in products.
Fewer product improvements.
Fewer products developed.
Increased stock shortages or overages.