3.01 Seven Functions of Marketing
Cameron Hughes
Marketing-Information Management
Obtaining info needed to make sound business decisions.
Product/service management
concepts and procedures necessary to obtain, develop, maintain, and improve a product or service mix in response to market oppurtunities.
Financing
Obtaining money needed to finance the operation of a business; bank loans and offering credit to customers
Website: www.promeroy.com
Pricing
Determining a value to charge for goods and services; consider what is cost competition and what consumers are willing able and to pay.
Promotion
Communication used to inform or remind people about a businesses products; involves persuading customer to purchase product
Selling
Determining customer needs and want through planned , personalized communication intended to influence purchase decisions about where to sell a product
What does the customer want?
Making a deal
Getting the product
Distribution
the transporting, storing and handling of goods on their way from the manufacturer to the customer; includes the decisions about where to sell a product