Unit 1 Marketing

1 of the 7 Functions of Marketing

Distrubution

1 of the 7 Functions of Marketing

Financing

1 of the 7 Functions of Marketing

Product/service Management

1 of the 7 Functions of Marketing

Information Management

1 of the 7 Functions of Marketing

Promotion

1 of the 7 Functions of Marketing

Pricing

1 of the 7 Functions of Marketing

Selling

3 Factors of Pricing

Cost, Competition, and what customers are willing to pay

Form Utility

Alter its physical appearance

Place Utility

Alter its location availability

Possession Utility

Alter how it can be acquired

Time Utility

Alter when it is available

Information Utility

Alter how people find out about the product

Market Share

one company (or products) percentage of the total sales volume generated by all companies (or products) that compete in a given market

Major Categories of Market Segmentation

Geographic, Demographic, and Pyschographic

(S)WOT

Strengths

S(W)OT

Weaknesses

SW(O)T

Opportunities

SWO(T)

Threats

EX. Form Utility

Adding custom monograms or graphics to off-the-rack plain hoodies.

EX. Information Utility

Displaying verified buyer ratings on e-commerce listings.

EX. Place Utility

Placing convenient locations right off busy highway exits.

EX. Possession Utility

Allowing customers to trade old phones for instant store credit

EX. Time Utility

Delivering emergency supplies within hours of ordering.