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Marketing Functions

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Question
Answer
FINANCING   Acquiring the money for starting and running a business.  
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DISTRIBUTION   The transporting, storing, and handling of goods on their way from the manufacturer to the consumer.  
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SELLING   Determining and responding to customer’s wants and needs through personalized communication.  
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MARKETING INFORMATION MANAGEMENT   Gathering information,analyzing information, and utilizing information for use in making marketing decisions.  
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PROMOTION   Communication used to inform, persuade, or remind customers about a business’s products.  
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PRICING   Determining a value to charge for products.  
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PRODUCT/SERVICE MANAGEMENT   Designing, producing, maintaining, improving, and obtaining products to meet customer’s wants and needs.  
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CHANNEL MANAGEMENT   (logistics) is overseeing the distribution process (movement of product/services from producer to consumer).  
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ADVERTISING   The most common form of promotion  
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PRICING   It is important to consider what competitors are charging and the amount customers are willing and able to pay.  
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MARKETING INFORMATION MANAGEMENT   Questionnaires and Surveys  
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PRODUCT/SERVICE MANAGEMENT   Responsible for monitoring products' life cycles  
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PUBLICITY   A free form of promotion  
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PRODUCT/SERVICE MANAGEMENT   Must decide on the type of business image to project  
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MARKETING INFORMATION MANAGEMENT   Useful in keeping up with the times -- trends,customer preferences, etc.  
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PRICING   Necessary to cover costs and make a profit  
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DISTRIBUTION   Necessary to ensure that products are available when and where they are needed  
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PROMOTION   Draws customers to a business  
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Created by: franclarke
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