3.01 Seven Functions of Marketing

Daniel Silva

Marketing information management

Obtaining information needed to make sound business decisions

Examples: Taste test and surveys

Product/Service management

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

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

Determining a value to change for goods and services; consider cost and what consumer are willing and able to pay
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Promotion

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

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

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

-https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAYQjB1qFQoTCKyq7M6Os8gCFURoPgodv4wOIg&url=http%3A%2F%2Fwww.insightssolutions.com%2FJust-In-Time-Marketing-Information.html&psig=AFQjCNFi8VJWaG6ooX9N6QU7X6irru5gpw&ust=1444401867793914

-http://www.google.com/imgres?imgurl=http://image.slidesharecdn.com/marketing3-01a-productservicemanagement-120409101500-phpapp01/95/marketing-301-a-productservicemanagement-3-728.jpg%253Fcb%253D1333966555&imgrefurl=http://www.slideshare.net/grantdeaton/marketing-301-a-productservicemanagement&h=546&w=728&tbnid=U62OPuA3nlai8M:&docid=bhauU9rd-KnjMM&ei=joMWVs31G4n0-AGtw7HoDA&tbm=isch&ved=0CCoQMygOMA5qFQoTCM30kceQs8gCFQk6PgodrWEMzQ

-https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCLD3tfWRs8gCFYpuPgodLUoMzQ&url=http%3A%2F%2Fclarisenergy.com%2Ffs_financing-solutions&bvm=bv.104615367,d.cWw&psig=AFQjCNGoeCFX5SN-TP7W9jwCJOyBoKb3uw&ust=1444402798797766

-https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCLC0pOGSs8gCFQJzPgod-hEMXg&url=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2F20141031115725-123708726-auditing-the-pricing-process&psig=AFQjCNHbEYpoAafJwX1FiEdb-e9kweKh5Q&ust=1444403034858259

-https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCP3fsaWTs8gCFUZpPgod3GUF4g&url=http%3A%2F%2Fchapmanservices.com%2F12-behaviors-that-will-kill-your-chances-for-a-promotion%2F&psig=AFQjCNHSnAMTh2bAfmVKNB10zokiwqdvMw&ust=1444403178039714

-https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCJHuz4CUs8gCFchoPgod7BwL7A&url=http%3A%2F%2Fwww.allaccessboston.com%2Fblog%2Fwhy-arent-you-selling%2F&psig=AFQjCNFABPIy62i4EzdxKY6H3cvqfcmMDQ&ust=1444403365810335

-https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCMqM9cmUs8gCFch6PgodipwHOw&url=http%3A%2F%2Fextensitech.com%2Fdistribution-inventory-management%2F&psig=AFQjCNEQ8vRPOYmlr4fkIl13tm9eUD20ZQ&ust=1444403521406435