Marketing is the process of planning and executing the pricing, promotion and distribution of ideas, goods, and services to create exchanges between buyers and sellers.

“Exchange” occurs when two parties each have something of value to the other: A buyer buys clothes from a department store. The “value” acquired by the store is profit and the customer acquired clothes – both gaining something to accomplish their goal.

Group discussion and post (10 minutes):

In groups of 3-4 discuss what you currently know about marketing, what it means to you and what companies you think do a good job at it. Think about where you see thier advertisement  (magazines, online, tv, billboards), sponsorship deals, and what sets a company apart from a marketing stand point from their competitors (Nike vs Adidas). As a group summarize your discussion in 4-5 sentences and post your thoughts below. Then take the time to read what the other groups thoughts are on this subject.