1. Why do we need Marketing?

2. All Types of Businesses Use Marketing  Direct Marketing Activities: –Advertising agencies –Market research firms –Trucking companies  Major Marketing Activities: –Retailers –Manufacturers –Real estate agents  Limited Marketing Activities: –Law offices –Physicians –Universities

3. Marketing is all around you…  You make marketing decisions everyday –Cash –Credit cards –Home delivery –Store pickup –Internet purchases –Effective advertising

4. Basic Internet Business Models  Selling businesses and services on-line Selling businesses and services on-line  Providing access to an audience Providing access to an audience  Selling admissions Selling admissions

5. What is Marketing?  Product/Service Management  Distribution  Selling  Marketing-Information System  Financing  Pricing  Promotion

6. Marketing an Automobile

7. Marketing  The creation and maintenance of satisfying exchange relationships  “the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create exchanges that satisfy individual and organizational objectives” AMA  Everything that goes into getting goods, services, and ideas from the producer to the consumer

8. Marketing Mix  Product-good, service, idea  Place-where sold and how it gets there  Price-everything that goes into the amount a consumer pays and how they pay for it  Promotion-anything that is done to communicate product information to a consumer

9. Businesses Need Marketing

10. The Need for Marketing  Past View: simple set of activities that would help a business sell its products  Today’s view: businesses utilize the marketing concept which is using the needs of customers as the primary focus during the planning, production, distribution, and promotion of a product and service

11. Development of Business  Self-sufficient: do not rely on anyone else to survive  Bartering: exchanging products or services with others by agreeing on their value  Specialization of Labor: concentrating on one or a few related activities so they can be done well  Money system: established the use of currency as a recognized medium of exchange  Central Markets: location where people bring products to be conveniently exchanged  Other Marketing Activities: support businesses to make the exchange process more efficient

12. The Functions of Business  Production: creates or obtains products or services for sale –Raw materials (mining, logging) –Processing (oil refining, paper manufacturing) –Services (hair, nail, tanning) –Merchandising (retailers, wholesalers)  Operations: on-going activities designed to support the primary function of a business and to keep it operating efficiently  Accounts and Finance: plans and manages financial resources and maintains records and information related to the business’ finances

13. The Functions of Business  Management and Administration: developing, implementing, and evaluating the plans and activities of a business  Marketing: all business activities to make a product or service available to consumers and to ensure effective exchanges occur

14. Coordination of the Functions of Business  Each function of business is dependent upon the other functions of the business –What would happen if a business was not successful in coordinating all aspects of the business operation? –Examples?