1. Function of marketing
1.1. Involve 8 activities
1.1.1. Selling-produces&sells to customers
1.1.2. Buying-buying goods or raw material from suppliers and resell
1.1.3. Transporting- Moving goods&services
1.1.3.1. Storing- product need to keep in warehouse or store before sold to customer
1.1.4. Financing-facility is made available when business firm producing the goods .
1.1.4.1. They not pay for all the work done
1.1.5. Securing- important in decision making
1.1.6. Grading and standardization on- product have to passed the quality and safety requirements
1.1.7. Assuming risk -
2. Marketing mix
2.1. Product - A good,service or an idea that is marketed to fill customer need and want
2.2. Pricing- process of determining what company will receive in exchange for it product
2.3. Promotion-techniques to communicate about product to customer
2.4. Place
2.4.1. Intermediaries
2.4.1.1. Wholesaler
2.4.1.2. Retailers
2.4.1.2.1. Product line retailers
2.4.1.2.2. Non store retailing
2.4.1.2.3. Bargain retailers
2.4.2. Distribution channels
3. Definition of marketing
3.1. Definition by American Association(1985) - process of planning and excuting concept, pricing,promotion and distribution of ideas,goods and services to create exchanges that satisfy individual and organizational objectives
3.2. Value and benefits
3.2.1. The value: relative comparison of a product benefits vs its cost
3.2.2. Benefits : include function of the product, emotional satisfaction
3.2.2.1. To satisfy customer, company need to
3.2.2.1.1. Develop new product better
3.2.2.1.2. Keep a store longer hours
3.2.2.1.3. Offer lower price
3.2.2.1.4. Give info that how that product works in new ways
3.3. Marketing
3.3.1. Goods
3.3.1.1. Consumer goods
3.3.1.1.1. -Physical products purchase by customer (E.g.Shampoo)
3.3.1.1.2. B2C marketing - business to customer
3.3.1.2. Industrial goods
3.3.1.2.1. Physical product purchase by companies to produce other product
3.3.1.2.2. B2B marketing- Business to business marketing
3.3.2. Services
3.3.2.1. Intangible product such as time/expertise
3.3.2.2. E.g. Clinics,caunselor
3.3.3. Ideas
3.3.3.1. Promotion of ideas that can sell the product
3.4. Relationship marketing- stragegy that emphasizee LASTING relationship with customer& suppliers
3.4.1. Eg . Member card