7 Functions of Marketing

Trevor Carter

Marketing-Information Management

Obtaining info needed to make sound business decisions. Examples taste tests and surveys

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Product/Service Management

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

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Obtaining money needed to finance the operation of a business; bank loans and offering credit to customers

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Determining a value to charge for goods and services.; consider cost competition and what consumers are willing and able to pay

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

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

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The transporting, storing and handling of goods on their way from the manufacture to the consumer; includes the decisions about where to sell a product

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