7 functions of marketing
Kayla Rivera
marketing information management
obtaining information needed to make sound business decisions.
Example: taste test and survey
product/service management
concepts and procedures necessary to obtain, develop, maintain, improve and eliminate a product or service mix in response to market opportunities.
finance
obtaining money needed to finance the operation of a business; bank loan and offering credit to customers
pricing
determining a value to charge for goods and services; consider cost and what consumer are willing and able to pay.
promotion
communication used to inform or remind people about a business's products; 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 transportation, storing , and handling of goods on their way from the manufacturing to the consumer; including the decision about where to sell a product.