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Marketing Functions

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