Functions
Obtaining goods and services for use in the operation of a business or for resale
What is purchasing?
Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior
What is promotion?
Making or producing things
What is form utility?
Products
Goods and services.
Goods
Material items you can touch.
Services
A series of tasks performed for a customer
What are things that are marketed?
The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service
What is pricing?
Determining the need for and availability of financial resources to aid in marketing activities
What is financing?
The product’s usefulness is increased because of its location
What is place utility?
Telling people why you have what they need and listening to what they care about
What is marketing?
The process of creating a product in response to market opportunities
What is product planning?
The physical movement or the transfer of ownership of a good or service form the producer to the consumer
What is distribution?
Making a product available at the right time of year or a convenient time of day?
What is time utility?
. . . to understand business
. . . to learn interpersonal skills
. . . to perfect communication skills.
Why study marketing?
Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.
What is marketing information management?
The ability to aid customers in owning goods
What is possession utility?
Marketing provides the means for the ____ process
What is exchange?
Usefulness added to the product through communication
What is information utility?