Function of marketing

1. Functions of Marketing
• Marketing is the process that comprises of all the
activities involved from the concept of the product all
the way till it reaches the final consumer.
• It is said that good marketing is a study about what
customers want to buy and then them help them do
so.
•Functions of Exchange
•Functions of Physical Supply
•Facilitating Functions
Functions
of
Marketing

2. Functions of Marketing
• Activities involved in transfer of ownership from producer/seller to
customer are called activates of exchange.
Functions of
Exchange
• Merchandising is that part of the marketing process which enables us to take
decisions on what to produce or procure, what product is to be added to or deleted
from the present product line. It enables proper co-ordination of supply with
demand.
a) Merchandising
• The buying function involves planning of purchases, selection of proper sources of
supply, selection of goods to be sold, or to be used in business, assembling of goods
in right quantity, at the right place and time and at the right price.
b) Buying
(Assembling)
• The selling function involves a number of subsidiary activities- (a) product planning
and development i.e., merchandising, (b) search of buyers, (c) creation of demand
through all means of promotion, (d) negotiation of terms of sale such as quality,
quantity and price and (e) sale contract leading to transfer of title and possession
of goods.
c) Selling

3. Functions of Physical Supply
• The physical distribution functions of marketing include
transportation and storage of goods. Until the goods have
been sold out they should be kept safe and after selling they
should be transported from one place to another.
2. Functions of
Physical Supply
• Transportation provides the physical means of carrying goods and
persons from one place to another. In other words, it is
concerned with carrying the goods from the places of
production to the places of their consumption.
a) Transportation
• Storage creates time utility by holding and preserving stock of
goods for different periods of time during the marketing
process. Storage enables equalisation process over period of
time.
b) Storage

4. Facilitating Marketing Functions
• In the process of marketing at every stage in the machinery of
distribution/assembling we need a number of auxiliary or facilitating
functions to ensure the smooth flow of goods.
3. Facilitating
Marketing Functions
• Standardisation means prescribing basic limits or grades on the basis of which
products may be sorted and to which producer of goods must conform.
• Grading is the actual sorting of a supply of a given commodity as per specified or
fixed norms or standards.
a) Standardisation &
Grading
• The financing function in marketing involves the use of capital to finance the
marketing agencies (wholesalers and retailers) in their various activities, plus the
financing of goods moving into and through the channels of distribution.
b) Financing
• Marketing may face the risk of loss, fire, theft, natural calamity, price fluctuations,
exchange rate fluctuations etc. Some of these risks may be insured wholly or partly
or borne by the businessman.
c) Risk Management

5. Facilitating Marketing Functions
• The function of collecting, analyzing and communicating
information is also important in marketing.
d) Market
Information
• Generates revenue, all other functions involve costs. Pricing
need to be right. Neither too high nor too low.
d) Pricing
• Branding is the practice of giving a specified name to a product
or a group of products from one seller. Branding helps
• Identify & differentiate products from those of competitors
• Create Brand Image and Brand Equity
• Build Brand loyalty and control over the market
e) Branding

6. Facilitating Marketing Functions
• Packing provides handling convenience, maintains
freshness and quality of the product and prevent
damages or adulteration of the product.
f) Packing and
Packaging
• Sales promotions are the short term promotion
tools designed to stimulate customers to buy and
assist sales-force/ retailers in their sales efforts.
g) Sales
Promotion
• advertising is the backbone of modern marketing It
informs guides, educates and protects buyers, so
that they can take right decisions on what to buy.
h) Advertising