1. Examining Marketing and Business The Functions of Marketing Marketing I Competency #39- Explain the functions involved in marketing goods and services

2. Marketing Functions Selling Marketing-information management Market planning Pricing Promotion Product/Service management Distribution (channel management )

3. Selling Provides customers with goods and services they want Two-way communication; personalized Form of promotion Includes determining client needs in order to lead to purchase decision Business-Consumer Business-Business

4. Marketing Management Information Research/gathering information Continual basis using special marketing research studies Find out customer habits, attitudes, demographics, and trends Good marketing and business relies on good information!

5. Market Planning Process of analyzing one or more market place Gather information to successfully compete Results in marketing strategy or marketing plan for increased sales/profit

6. Pricing Determining how much to charge for product/service Price for profit Pricing strategies and decisions involve:  Cost plus mark-up percentage  Competitor price  Customer perception of value

7. Promotion Effort to inform, persuade, remind about product/service Targeted towards potential customers/target market Four types of promotion: Selling, advertising, sales promotion, pubic relations

8. Product/ Service Management Developing new product Maintaining and improving products or product mix Obtaining products for resale Marketing research guides developing products around customer wants and needs

9. Distribution (Channel Management Deciding how to get product in customers’ hands Physically moving and storing products Methods of transportation Tracking products at all times

10. Class Activity Students will work in a small group of 2-3 people Using the Internet, students will select a product and research how each of the marketing functions are applied to that product Prepare brief PPT presentation to share out with the class 50 Points