3.01 Seven Functions of Marketing

By: Alivia Laws

Marketing-Information Management

Obtaining information needed to make sound business decisions.

Example: taste tests; surveys

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Product/Service Management

concept and procedures necessary to obtain, develop, maintain, and improve a product or service mix in response to market opportunities.

  • Risk Management- preventing or reducing business loss
  • Purchasing- buying goods and services for use in the day-to-day operations; where a product is sold

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