9 Function Marketing
By: Cameron McCarley 1st Period
Market Planning
-Identify the Market
-Develop a Strategy
-Create Marketing Mix
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
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
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
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