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Marketing Functions

Marketing involves satisfying customer needs through products and services. It encompasses 9 key functions: distribution, selling, financing, market information management, pricing, product/service management, promotion, risk-taking, and grading/standardizing. The goal is to connect consumers with opportunities to purchase goods and services through the exchange process between producers and buyers.

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Shanti Kiran Z
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264 views27 pages

Marketing Functions

Marketing involves satisfying customer needs through products and services. It encompasses 9 key functions: distribution, selling, financing, market information management, pricing, product/service management, promotion, risk-taking, and grading/standardizing. The goal is to connect consumers with opportunities to purchase goods and services through the exchange process between producers and buyers.

Uploaded by

Shanti Kiran Z
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Marketing

functions
What is Marketing?

What does the term marketing mean? Marketing


must be understood not in the
old sense of making a sale - 'selling' - but in the
new sense of satisfying customer
needs.
Needs. Wants and Demands


The most basic concept underlying
marketing is that of human needs. A
human need is a state of felt
deprivation. Humans have many
complex needs. These include basic
physical needs for food, clothing,
warmth and safety; social needs for
belonging and affection; and
individual needs for knowledge and
self-expression.
Products and Services

People satisfy their needs and wants


with products.
products A product is anything
that can he offered to a market to
satisfy a need or want. Usually, the
word product suggests a physical
object, such as a car, a television set
or a bar of soap. However, the
concept of product is not limited to
physical objects - anything capable of
satisfying a need can be called a
Value, Satisfaction and Quality


Consumers usually face a broad array
of products and services that might
satisfy a given need. How do they
choose among these many products?
Consumers make buying choices
based on their perceptions of the
value that various products and
sendees deliver.
marketing concept
marketing functions
functions
• Distribution
• Selling
• Financing
• Market Information Management
• Pricing
• Product/Service Management
• Promotion
FUNCTIONS

In order for the marketing bridge to work


correctly -- providing consumers with
opportunities to purchase the products
and services they need -- the marketing
process must accomplish nine important
functions
4p's of marketing


product

Price

Place

promotion

7P's


Product

Promotion

Place,

People

Process

Physical Environment
Buying


people have the the opportunity to buy products
that they want.
Selling


producers function within a free market to sell
products to consumers.
Financing

banks and other financial institutions provide


money for the production and marketing of
products.
Storage


products must be stored and protect ed until
they are needed. This function is especially
important for perishable products such as fruits
and vegetables.
Transportation

products must be physically relocated to the


locations where consumers can buy them. This
is a very important function. Transportation
includes rail road, ship, airplane, truck, and
telecommunications for non-tangible products
such as market information.
Processing

processing involves turning a raw product, like


wheat, into something The consumer can use --
for example, bread.
Risk-Taking

Insurance companies provide coverage to


protect producers and marketers from loss
due to fire, theft, or natural disasters.
Market Information

Information from around the world


about market conditions,
conditions weather,
price movements, and political
changes, can affect the marketing
process. Market information is
provided by all forms of
telecommunication,
telecommunication such as
television, the internet, and phone.
Grading and Standardizing

Many products are graded in order to conform to


previously determined standards of quality. For
example, when you purchase US No. 1
Potatoes, you know you are buying the best
potatoes on the market.
Thank you

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