TEST: Know at least 2 definitions of marketing Know the difference between Goods vs Services Know: Raw Goods, Processed Goods, Finished Goods Consumer Goods v.s. Industrial Goods Functions of Marketing: 1)Distribution 2)Financing 3)Marketing Information Management 4)Pricing 5)Product Service Management 6)Promotion 7)Selling Marketing Concept: Businesses must satisfy customers’ needs and wants in order to make a profit. Profit – the money earned from conducting business after all costs and expenses are paid. Profit is the motivation for taking a risk. •Imports: Items coming into a Country •Exports: Items going out to a different Country •Trade Surplus: When a Country Exports more than it Imports. This is good, you’re selling more than you are buying. •Trade Deficit: When a Country Imports more than it Exports -This is bad, you’re buying more than you are selling. Types of Ownership: Sole Proprietorship, Partnership, Corporation The 4P's and 4 C's Product: Needs it addresses, specs, function, how it works, why it makes life easier etc Price: Pricing Strategies –Competition – basing your prices on those of the competition –Penetration – making your price low while new just to get some business –Bundle – putting the product/service with another item and bundling the prices –Psychological – making the price say something about the quality of your product Place: Direct and Indirect Distribution Product: •A successful product or service means nothing unless the benefit of that product/service can be communicated to the Target Market 4C's that Match the 4P's |
Skill OneSuperbowl Ad Presentation: Marketing Demographics and target market
Marketing Inventions: Project Sheets |
Skill Two |
Skill Three |