1. MARKETING /TOPIC 4 IBBM Unit 4.1 What is Marketing? The 7 P’s

2. MARKETING: The connecting link, or bridge, between the producer and the consumer. Producer Consumer

3. The process of planning the product, executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy consumer wants and needs. PlanningPricing Place (Distribution) Promotion Process Physical Evidence People MARKETING IS:

4. THE 7 P’S: MARKETING is a PROCESS and involves the 7 P’s: PLANNING the Product PRICING PLACE (Distribution) PROMOTION Plus PHYSICAL EVIDENCE PROCESS PEOPLE (The Target Market) Planning Product PricingPlacePromotion Physical Evidence PeopleProcess

5. MARKETING IS ALL AROUND US~ SALES REPRESENTATIVES TELEMARKETERS DIRECT/JUNK MAIL VIDEOS, BROCHURES PRODUCT PLACEMENT NETWORKING SOCIAL MEDIA SIGNS DISPLAYS INTERNET BANNERS

6. >Decisions a business must make. >Depends on Target Market being clearly defined. ___________________________ 1)Product Planning- 1)Make a decision about the product. 2)Produce the Product. 2)Pricing- 1) To Sell (value) 2) To Make a Profit. 3) To be Competitive 3)Place (Distribution)- 1) Packaging Also called Channel Mgmt. 2) Storage 3) Shipping 4) Receiving (Inventory) (Con’t) THE 7 P’S =THE MARKETING MIX

7. 7 P’S/THE MARKETING MIX (CON’T) 4)Promotion- 1) Advertising 2) Publicity 3) Public Relations 4) Displays 5) Physical Evidence- 1) Demonstrations 2) Reviews 3) Endorsements 6) Process- How services are consumed and paid for. 7)People- 1) Consumers 2) Customers _______________________________________________ What is the difference between a Consumer and a Customer?

8. WHAT IS MARKETED? Durable Goods >Desks >Computers >4G phones Places “Get Out There” (RCCL) “Ski Washington.com” “Go Hawaiian” Organizations >WEA >NCAA >NFL >The Red Cross Ideas >”Litter and It Will Hurt” > “Buzzed Driving Is Drunk Driving Nondurable Goods >Yogurt >Gasoline >Cosmetics Services >Airline Travel >Banking >Wedding Planners People >Athletes >Musicians >Ourselves

9. Goods: The kinds of things that you can touch or hold in your hand; TANGIBLES Services: The kinds of things that you can’t physically touch; INTANGIBLES PRODUCTS~INCLUDES IDEAS, GOODS, AND SERVICES, WHICH HAVE MONETARY VALUE AND SATISFY CUSTOMERS’ NEEDS AND WANTS.

10. EXCHANGES=VOLUNTARY PURCHASES (EXCHANGES TAKE PLACE EVERY DAY!)

11. THE END