The Six Functions of Marketing

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Presentation Transcript

Marketing and Economics : 

Marketing and Economics Unit 8: Introduction to Marketing The Six Functions of Marketing

Marketing--Defined : 

Marketing--Defined The process of developing, promoting and distributing products in order to satisfy customers needs/wants

Products : 

Products Goods/Services

Goods : 

Goods Can touch or hold in your hand - Tangible

Services : 

Services Cannot touch or hold in your hand - Intangible The final results

Intangible Good : 

Intangible Good Education is sometimes considered an intangible good.

The Six Functions of Marketing : 

The Six Functions of Marketing Product/Service Management Marketing-Information Management Pricing Distribution Promotion Selling

The Marketing Core, MarkEd© : 

The Marketing Core, MarkEd©

Product/Service Management : 

Product/Service Management All the decisions a business makes in the production and sale of goods and services. This includes Market Planning from the Marketing Core.

Marketing-Information Management : 

Marketing-Information Management The process of getting the marketing information needed to make sound business decisions

Pricing : 

Pricing Deciding how much to charge for goods/services

Distributiona.k.a. Channel Management : 

Distributiona.k.a. Channel Management Making decisions about where to sell your product and the method of transportation

Promotion : 

Promotion Any form of communication used to inform, persuade or remind people about a business’s product

Selling : 

Selling Providing customers with goods/services they want to buy