3.01 7 Functions of Marketing
Obtaining information needed to make sound business decisions.
Ex. Taste Test and Surveys
Concepts and procedures necessary to obtain, develop,maintain, and improve a product or service mix in response to market opportunities.
Obtaining money needed to finance the operation of a business; bank loans and offering credit to customers
Determining a value to change for goods and services; consider cost and what consumer are willing to pay for good.
Communicate used to inform or remind people about a business's product; involves persuading customers to purchase a product
Determining customer needs and want through planned, personalized communication intended to influence purchase decision and ensure satisfaction
Th transporting, storing and handling of goods on their way from the manufacturer to the consumer; includes the decisions about where to sell a product