9 Function Marketing

By: Cameron McCarley 1st Period

Market Planning

-Identify the Market

-Develop a Strategy

-Create Marketing Mix

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Product & Service Management

-Creating products and services

-Meet customers' needs

-Research

-Test

-Gather computer input

Distribution

-Find out best ways to help consumers locate, obtain, and use products and services

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Pricing

-Establishing and communicating the value of products and services to customers

-Consumers often relate the price to the satisfaction they expect to receive from a product or service

Promotion

-Communication of information about products and services to potential customers

-Must create the right blend of advertising, sales promotions, publicity, and personal selling

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Selling

-Direct, personal communication with prospective customers that involves assessing needs, explaining how the business's products and services can satisfy those needs, and following up to ensure satisfaction

-Successful selling requires excellent listening and problem-solving skills

Marketing-Information Management

-Collecting and managing information needed to make marketing decisions

-Require accurate and current information about changes and trends in the market

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Financing

1. Budget

2. Financial purchasing assistance for customers

Risk Management

-identifying potential risks associated with marketing decisions and activities and developing a strategy for dealing with the reducing risks