MANAGING THE MARKETING FUNCTION

Marketing

Group of activities designed to facilitate and expedite the selling of goods and services.

The Product

Includes the tangible (or intangible) item and its capacity to satisfy a specific need.

The Price

Refers to the money or other considerations exchanged for the purchase or use of the product, idea, or service.

The Place

Importance of locating companies where they can be easily reached by customers.

The Promotion (McCarthy & Perreault)

Involves communicating information between seller and potential buyer to influence attitudes and behavior.

Advertising

A paid message in mass media to inform or persuade people about products, services, beliefs, or actions.

Mass Media

Includes television, radio, magazines, and newspapers.

Publicity

Promotional tool that publishes news or information about a product, service, or idea on behalf of a sponsor without payment.

Personal Selling

Oral presentation in a conversation with prospective purchasers to make a sale.

Sales Promotion

Any paid attempt to communicate with customers other than advertising, publicity, and personal selling.