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Marketing 12
Learning Guide 4 – World of Marketing
Elijah Marie Antonio TA-15
FACT AND IDEA REVIEW
1. What is marketing? - The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants.
2. Identify the nine functions of marketing.
a. marketing is purchasing - purchasing is buying goods and services for a business’s operation.
b. marketing is selling – selling is providing customers with goods and service that they want to buy.
c. marketing is pricing - pricing means deciding how much to charge for goods and services.
d. marketing is product planning- product planning involves all the decisions a business makes in the production and sales of all its goods and services.
e. marketing is marketing information management- marketing information management is the process of getting the marketing information needed to make sound business decisions.
f. marketing is promoting – promotion is any form of communication used to inform, persuade, or mind people about a business’s products.
g. marketing is financing- financing is getting the money needed to finance the operation of a business.
h. marketing is distribution- distribution involves making decisions about where to sell you product.
i. marketing is risk management- risk management is preventing or reducing business loss.
3. Of the four marketing utilities, is one more important than the other for business success? Explain.
-No, all four marketing utilities are important for business success because when people buy a product, they want to be satisfied. When selecting between your product and another company's product, they will choose the one that gives them the most utility. It is important to send a message to consumer about the amount of utility that your product will provide.
4. Which of the five economic utilities are related to marketing? - Four of the utility is related to marketing. Place, time, possession and information are the
Learning Guide 4 – World of Marketing
Elijah Marie Antonio TA-15
FACT AND IDEA REVIEW
1. What is marketing? - The process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants.
2. Identify the nine functions of marketing.
a. marketing is purchasing - purchasing is buying goods and services for a business’s operation.
b. marketing is selling – selling is providing customers with goods and service that they want to buy.
c. marketing is pricing - pricing means deciding how much to charge for goods and services.
d. marketing is product planning- product planning involves all the decisions a business makes in the production and sales of all its goods and services.
e. marketing is marketing information management- marketing information management is the process of getting the marketing information needed to make sound business decisions.
f. marketing is promoting – promotion is any form of communication used to inform, persuade, or mind people about a business’s products.
g. marketing is financing- financing is getting the money needed to finance the operation of a business.
h. marketing is distribution- distribution involves making decisions about where to sell you product.
i. marketing is risk management- risk management is preventing or reducing business loss.
3. Of the four marketing utilities, is one more important than the other for business success? Explain.
-No, all four marketing utilities are important for business success because when people buy a product, they want to be satisfied. When selecting between your product and another company's product, they will choose the one that gives them the most utility. It is important to send a message to consumer about the amount of utility that your product will provide.
4. Which of the five economic utilities are related to marketing? - Four of the utility is related to marketing. Place, time, possession and information are the