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THE MARKETING CONNECTION
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Goals Understand several key concepts of marketing
Learn the 7 marketing functions Learn the 4 elements of the promotional mix.
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Marketing is Everywhere
Look around the room- how many students have clothes or shoes with logos? Have you ever based a look or hair style off a celebrity? Have you ever worked in retail? Posted fliers? Convinced your friends to do something?
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Marketing Marketing- the process of determining and satisfying the needs and wants of customers.
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The Key Functions of Marketing
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1. Product/ Service Management
Designing, creating, improving, and maintaining products and services that satisfy customers needs.
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2. Distribution Getting the product or service to the customer the best way possible. This includes everything from the factory to your hands.
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3. Selling Direct contact with customers to determine their needs and satisfy these needs. * a salesperson
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4. Market Research The process of gathering and using information about customers to improve business decisions Example: Surveying
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5. Financing The process of getting the money to make and market the product/ service EX: getting a business loan from a bank. Selling stock
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6. Pricing The process of deciding how much a product/ service will cost a customer
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7. Promotion The communication to inform, persuade, and remind consumers to buy a product/service.
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Marketing, Society, and You
Every business is involved in marketing. Marketing is everywhere from the billboard you see..... To the truck transporting products
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To the location of the store you go to ....
To the cashier at the check out counter.... Where we feel the effects of pricing decisions.
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Marketing Ideas Like a product or service....ideas can be marketed.
Politicians do it to “sell” plans and values to voters.
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Marketing Individuals
Individuals also use marketing Star athletes market athletic ability and success College applicants market their potential as students Job seekers market their potential as contributing employees
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Marketing Yourself in the Workplace
You will need to “sell” yourself to.... get into college, apply for scholarships, get a job, get a promotion, convince other people of your ideas.
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Employment is an exchange
You give your time and skills in exchange for a paycheck and benefits
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You must understand your employers needs and wants so that job performance meets or exceeds expectations.
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Marketing yourself- Marketing research
Self-assessment- understanding your strengths and weaknesses and personal preferences will help you find a good career match.
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Marketing Yourself-Promotion
How to present yourself in the best light and showcase your value in your resume, job correspondence, and interviews
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