WF SEM I SPORTS MARKETING BASICS Recognize the importance of marketing.

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WF SEM ISPORTS MARKETING BASICS Recognize the
importance of marketing.
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Marketing can be Defined two ways

• 1) an organizational function and a set of
  processes for creating, communicating, and
  delivering value to customers and for managing
  customer relationships in ways that benefit the
  organization and its stakeholders.
• 2)Marketing is the creation and maintenance of
  satisfying exchange relationships.

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Marketing actually is

• Marketing involves all the activities necessary
  to get a product from the producer to the
  consumer!

• Marketing is a bridge or a link between the
  producer and the consumer.

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A target market is

• The group of consumers/customers a business
  desires to have buy their products.

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Products are

• Both goods and services
• Goods (tangible) vs. Services (intangible)
• CAN BE TOUCHED! CANNOTBE
  TOUCHED!

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The marketing concept is

• A business approach that directs all marketing
  efforts towards satisfying customers needs and
  wants.
• Understanding that everything a business does
  revolves around the customer.
• The customer is 1.
• The customer is always right.

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The benefits to marketing are

• New and improved products
• Unusual products
• Lower prices

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Benefits of Marketing Continued

• Improves the Quality of Life, which is?
• Raises the standard of living, which is?
• Makes buying convenient
• Adds Utility (Value) to products
• 5 types (Form, Place, Time, Possession,
  Information)