2. All Business is International Business

5. So, if we want to keep things good We have to have a good understanding of marketing, here locally, and globally

11. Process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives. Marketing - the formal definition This Formal Definition is used by other texts

12. Process of ……………. Planning and executing  = carrying out actions the conception, = (creation of the idea) pricing, promotion, and distribution of “STUFF” stuff = ideas, goods, and services to create exchanges = customer gets the product, mfg. gets the $$ that satisfy  people people = individuals and organizational objectives. Marketing - the formal definition This Formal Definition is used by other texts

22. Micro Marketing Macro Marketing Page 9

23. Micro Marketing Macro Marketing Page9 Micro - marketing for a company Macro - the whole economy

24. Micro Marketing Macro Marketing Micro - marketing for a company, things you do to accomplish the organizations objectives ( companies and NPO’s) Macro - the whole economy and its flow of goods and services from producers to consumers Page 10

25. Micro Marketing Macro Marketing Micro - Its not just selling stuff, but also looking at what the customers want Macro - Looking at how everybody in the country can have access to things they need. Government has to make sure everybody has fair access . Page 10

26. Micro Marketing Macro Marketing Micro Mktg is the main focus of this text

30. The 8 Marketing Functions These 8 functions are the same in several textbooks, and important for you to learn

31. The Marketing Functions Buying Buying Selling Selling Transporting Transportation Storing Storage Grading Standardization Financing Finance (Credit) Risk Taking Risk Bearing Information Collection Research Beckman, Kurtz & Boone Foundations of Marketing 6th Edition as used in MKTG 116 Nickels, McHugh & Berman Understanding Canadian Business 2nd Edition as used in GNED 119

33. Innovation Innovation is encouraged by a market-directed economy (capitalism) because people who come up with new ideas are free to try and market them and make a fortune. In a communist country, government has strict controls on the “means of production” so there is a limit to what people can manufacture. In a capitalist economy, people are always trying think of new ways to satisfy un-met needs, and, this encourage new thinking Page 29

35. ETHICS One of the big complaints about marketing is that ppl act unethical in order to make a sale. Sometimes it is easy to forget that morals are based on your own cultural standards and in different cultures, people have different opinions about what is ethical. Eg. Bribery is perfectly acceptable in some parts of Asia and Latin America, but unacceptable in USA and Canada page 22