1. 11 UNIT 2 What Is Marketing What You'll Learn  The meaning of marketing  The foundations of marketing  The functions of marketing KEY TERMS  Marketing –  Products -  Exchange -

2. 12 What Is Marketing Marketing is the process of developing, promoting, and distributing products to satisfy customers' wants and needs. What Is Marketing

3. 13 Goods: Hammers, automobiles, soda pop, clothing, and computers Services: Dry cleaners, amusement parks, attorneys, and movie theaters Ideas: Political Campaigns, education Products = Goods, Services, or ideas

4. 14 What Is Marketing Marketplace: Where goods and services are made available for exchange Exchange: Buying or selling of a good or service (product)

5. 15 Graphic Organizer Marketing Functions ProducersConsumers Financing Pricing Marketing-Information Management Product/Service Management Promotion Distribution Selling

6. 16 What Is Marketing Distribution where and to whom products need to be sold in order to reach the final users. Financing getting the money needed to pay for the operation of a business. Functions of Marketing Slide 2 of 4

7. 17 What Is Marketing Marketing-Information Management getting the necessary information to make sound business decisions. Pricing dictates how much to charge for goods and services. Functions of Marketing Slide 3 of 4

8. 18 What Is Marketing Product/Service Management obtaining, developing, maintaining, and improving a product. Functions of Marketing Slide 3 of 4

9. 19 What Is Marketing Promotion communicating with potential customers to inform, persuade, or remind Selling is providing customers with goods and services they want. Functions of Marketing Slide 4 of 4

10. 110 What Is Marketing These functions define marketing as it is applied in business operations. Functions of Marketing  Distribution  Financing  Marketing-Information Management  Pricing  Product/Service Management  Promotion  Selling Slide 1 of 4

11. 111 What Is Marketing Why It's Important To be successful in business requires being marketing oriented. Learning how businesses and people operate from a marketing point of view will help you in all your future endeavors. You will also get a good idea of whether marketing is a potential career for you.

12. 112 What Is Marketing Building on these four foundations helps you to acquire marketing skills that are relevant to your own career development. Foundations of Marketing  Business, Management, and Entrepreneurship  Communication and Interpersonal Skills  Economics  Professional Development Slide 1 of 3

13. 113 What Is Marketing Business, Management, and Entrepreneurship Understanding the basics of business, management, and entrepreneurial concepts that affect business decision making. Communication and Interpersonal Skills Understanding concepts, strategies, and systems needed to interact effectively with others. Foundations of Marketing Slide 2 of 3

14. 114 What Is Marketing Economics Understanding the economic principles and concepts that are basic to marketing. Professional Development Understanding concepts and strategies needed for career exploration, development, and growth. Foundations of Marketing Slide 3 of 3

15. 115 Economic Utilities Bridges the gap between you and the maker or seller of an item. Makes buying easy for customers. Creates new and improved products at lower prices. Economic Benefits of Marketing