8 Functions of Marketing

 

Functions of Marketing

 

1. Marketing Information

-Collection, analysis and distribution of all the information needed to plan, carry out and control marketing activities, market research.

2. Purchasing

-Looking for and evaluating goods and services

3. Selling

-Promoting the product – personal selling, advertising-it is the most visible function of marketing.

4. Transportation

-The movement of goods from one place to another

5. Storage

-Holding goods until customers need them

6. Standardization and Grading

-Sorting products according to size and quality-breaking bulk

7. Financing

-Provides the necessary cash and credit to produce, transport, store, promote, sell and buy products.

8. Risk Taking

-Bearing the uncertainties that are part of the marketing process e.g. damage to products, theft and obsolescence.

 

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