Marketing Functions

9 Functions

1-3

Market Planning-

Involves identifying target markets and developing an effective marketing strategy and marketing mix that will produce a satisfying exchange relationship.

Product and Service Management-

Involves creating products and services that meet the needs of customers.

Distribution-

Involves determining the best methods and procedures to use so that customers can locate, obtain, and a product or service.

4-6

Pricing-

involves establishing and communicating the value of products and services to customers.

Promotion-

the communication of information about products and service to potential customers.

Selling-

Communicating with customers by telling them how the needs are met for this product

6-9

Market-

information management- involves collecting and managing the information needed to make marketing decisions.

Financing-

Budgeting to ensure they have the correct amount of money to make marketing decisions and to provide financial assistance to customers.

Risk management-

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