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8 Functions of Marketing
Transcript of 8 Functions of Marketing
Deciding how much to charge for goods and services in order to maximize profits
Providing tools for customers to purchase products
methods used to start up a business (ex: bank loan)
developing and improving products in response to customer trends (wants/needs)
non-personal communication used to inform, persuade, or remind customers about a business's products
Transporting, storing products
Working with channel members
Where product are sold
Deciding how products get from producer to consumer
gathering data about customers
use information to make good business decisions
usually through market research - surveys, focus groups, interviews
Communicating with customers
Providing customers with goods and services they want
identify the market
make a plan
know your target market
the responsibilities of marketers
the activities that occur every time a product/service is developed and sold (from the manufacturer/producer to consumer)
4 Foundations of Marketing
fundamental knowledge to begin an understanding of marketing specific content
Management & Entrepreneurship
Communication & Interpersonal Skills