3.01 7 Functions of Marketing

Destiny Higgins

Marketing-Information Management

Obtaining information needed to make sound business decisions.

Examples such as taste tests and surveys.

Product/service management

Concepts and procedures necessary to obtain develop, maintain and improve 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 and what consumers are willing to pay.

Promotion

Communication used to inform or remind people about a business's product. Involves persuading customers to purchase a product.

Selling

Determining customer needs and want through planned, personalized communication intended to influence purchase decisions and ensure satisfaction.

Distribution

The transport, storing and handling of goods on their way from the manufacture to the consumer. Includes the decisions about where to sell a product.

Work Cited

"Redirect Notice." Redirect Notice. N.p., n.d. Web. 08 Oct. 2015.

"Pricing - Google Search." Pricing - Google Search. N.p., n.d. Web. 08 Oct. 2015

"Finance - Google Search." Finance - Google Search. N.p., n.d. Web. 08 Oct. 2015.

"Sign Shop Management | Point of Sale Marketing Management | POS Tracking Software | Blog." Sign Shop Management | Point of Sale Marketing Management | POS Tracking Software | Blog. N.p., n.d. Web. 08 Oct. 2015.

"How to Adjust Being Promoted In Your Department." How to Adjust Being Promoted In Your Department. N.p., 26 Mar. 2013. Web. 08 Oct. 2015.