3.01 Seven Functions of Marketing
ksaun phillips
marketing information management
obtaining info needed to make sound business decisions
Product/Service Management
Concepts and procedures necessary to obtain, develop, maintain, improve and eliminate a product or service mix in response to market opportunities
financing
obtaining money needed to finance the operation of a business; bank loans and offering credit to customers.
pricing
determining a value to charge for goods and services.; consider cost competition and what consumer are willing & able to pay.
promotion
communication used to inform or remind people about a business products ; involves persuading customers to purchase a product.
Selling
determining customers needs and want through planned, personalized communication intended to influence purchase decisions and ensure satisfaction
distribution
the transporting and handling and storing of goods on their way from the manufacturer to the consumer.