Marketing Functions SERM 42 The 6 Marketing Functions

Marketing Functions SERM #42

The 6 Marketing Functions • Selling • Pricing • Promotion • Distribution • Product/service management • Marketing-information management

Selling • Providing customers with goods and services they want to buy. • This includes retail and business to business

Selling Example • Business to Business • Corporate Luxury Boxes • Business to Consumer • Club Seating

Pricing • How much to charge for goods and services • Most decisions take competition into consideration

Pricing Example • Ex: Tickets to a Raven’s game are sold on a mark -up of 25%, based on cost.

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

Promotion example • Ex: Free baseball hats are given away at a baseball game • Ex: banner ads on website

Distribution • Making decisions about where to sell the product and how it gets there

Distribution Example • Ex: Bands pack trailers and busses to transport their equipment to and from venues.

Product/Service Management • Obtaining, developing, maintaining, and improving a product or product line in respond to customer needs and wants

Product Service Management Example • Ex: See how the Coca-Cola bottles have changed with the times and with customer’s needs and wants!

Marketing Information Management • Process of collecting information about customer trends, and competitor products • Marketing Research • Used to determine customer demographics, buying habits, and attitudes • How do we get this information? • Surveys • Google search history • Reward cards • Credit card purchases

Marketing Information Management Example • Ex: J. Crew asks for your zip code before you purchase something.

Activity • Apply the Marketing Functions to the Fantasy Football

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