1. Copyright © Texas Education Agency, 2012. All Rights Reserved

2. 2 “Copyright and Terms of Service” Copyright © Texas Education Agency. The materials found on this website are copyrighted © and trademarked ™ as the property of the Texas Education Agency and may not be reproduced without the express written permission of the Texas Education Agency, except under the following conditions: 1)Texas public school districts, charter schools, and Education Service Centers may reproduce and use copies of the Materials and Related Materials for the districts’ and schools’ educational use without obtaining permission from the Texas Education Agency; 2) Residents of the state of Texas may reproduce and use copies of the Materials and Related Materials for individual personal use only without obtaining written permission of the Texas Education Agency; 3) Any portion reproduced must be reproduced in its entirety and remain unedited, unaltered and unchanged in any way; 4) No monetary charge can be made for the reproduced materials or any document containing them; however, a reasonable charge to cover only the cost of reproduction and distribution may be charged. Private entities or persons located in Texas that are not Texas public school districts or Texas charter schools or any entity, whether public or private, educational or non-educational, located outside the state of Texas MUST obtain written approval from the Texas Education Agency and will be required to enter into a license agreement that may involve the payment of a licensing fee or a royalty fee.

3. 3  Advertising – A paid for announcement to promote goods and services.  Goods – Tangible items that have monetary value and satisfy needs and wants.  Services – Intangible items that have monetary value and satisfy needs and wants.  Need – Something you cannot live without.  Want – Something you would like to have but can live without.  Consumer – Someone who uses products.  Marketing – The process of planning, pricing, promoting, selling, and distributing ideas, goods, or services to create exchanges that satisfy customers.  Marketing Concept – The idea that a business should strive to satisfy customer’s needs and wants while generating a profit for the company.  Functions of Marketing – Distribution, Financing, Marketing Information Management, Pricing, Product-Service Management, Promotion, and Selling.  Utility – Utilities are the attributes of a product or service that make it capable of satisfying the consumers wants and needs. Copyright © Texas Education Agency, 2012. All Rights Reserved

4. 4 1. Marketing Information Management 2. Financing 3. Pricing 4. Promotion 5. Product/Service Management 6. Distribution 7. Selling Copyright © Texas Education Agency, 2012. All Rights Reserved

5. 5  This is the gathering, analyzing, storing, and collecting of information. This information is used to find out who the customer is, their habits, attitudes, and trends in the market place. Copyright © Texas Education Agency, 2012. All Rights Reserved

6. 6  Getting the money that is necessary to pay for setting up and running a business. Financing also involves decisions such as whether to offer credit to customers or other payment options. Copyright © Texas Education Agency, 2012. All Rights Reserved

7. 7  Pricing decisions dictate how much to charge for goods and services in order to make a profit. Marketers must determine how much customers are willing to pay for these products. Copyright © Texas Education Agency, 2012. All Rights Reserved

8. 8  Promotion is the effort to inform, persuade, or remind potential customers about a business’s products or services.  It is also used to improve a company’s brand image. Copyright © Texas Education Agency, 2012. All Rights Reserved

9. 9  Product service management is obtaining, developing, maintaining, or improving existing products. Market research guides product service management toward what the customer wants and needs. Copyright © Texas Education Agency, 2012. All Rights Reserved

10. 10  Distribution is the process of deciding how to get goods to the customer.  This also involves systems that track products so that they can be located at any time. Copyright © Texas Education Agency, 2012. All Rights Reserved

11. 11  Selling provides customers with the good and services they want. This includes:  Manufacturers  Wholesalers  Retailers Copyright © Texas Education Agency, 2012. All Rights Reserved

12. 12  The idea that a business should satisfy customers’ needs.  All seven functions of marketing need to support this idea.  All employees are an extension of this concept and must provide the best possible service. Copyright © Texas Education Agency, 2012. All Rights Reserved

13. 13  Think about your favorite restaurant.  Write down the reason it is your favorite.  How have they tried to keep you as a customer?  Who is the restaurant trying to target?  Now write down one type of job at the restaurant and give a brief summary as to how they contribute to the success of the marketing concept. Copyright © Texas Education Agency, 2012. All Rights Reserved