Date post: | 22-Dec-2015 |
Category: |
Documents |
View: | 215 times |
Download: | 2 times |
Role of
Marketing
Functions of Business
Marketing Concept
Using the needs of customers as the primary focus during the planning,
production, distribution, and promotion of a product or service
Marketing Mix
Marketing Information Management• Gathering and
using information about customers to improve business decisions
Financing
• Budgeting• Customers paying
for products purchased
• Loans and capital needed to operate a business
Pricing
• Process of establishing and communicating the value of cost of goods and services to customers
Promotion
• Using advertising and other forms of communicating information about products, services, images, and ideas to achieve a desired outcome
Product/Service Management
• Designing, developing, maintaining, improving, and acquiring products or services so they meet customer needs
Distribution
• Determining the best way to get a company’s products or services to customers
Selling
• Direct and personal communication with customers to access and satisfy customer needs