9 Functions of Marketing

Jake Wilsie

Product/Service Management

Assisting in the design and development of products and services that will meet the needs of prospective customers.

Marketing Information Management

Obtaining, managing, and using market information to improve decision making and the performance of marketing activities
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Financing

Budgeting for marketing activities, obtaining the necessary financing, and providing financial assistance to customers to assist them with purchasing the organization's products and services

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Purchasing

The planning and procedures necessary to obtain goods and services for use in the operation of the business or for resale.
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Pricing

Establishing and communicating the value of products and services to prospective customers.
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Distribution

Determining the best methods and procedures to be used so prospective customers are able to locate, obtain and use the products and services of an organization.
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Promotion

Communicating information to prospective customers through advertising and other promotional methods to encourage them to purchase the organization's products and services.
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Selling

Direct, personal communications with prospective customers in order to assess needs and satisfy those needs with appropriate products and services.
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Risk Management

The planning controlling, preventing, and procedures used to limit business losses.
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