Marketing - nature / scope / concept
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Marketing involves studying customer wants and needs, creating products to meet those needs, and delivering products at the right price. It is the process of planning, pricing, promoting, and distributing goods and services to create value for both customers and organizations. Marketing identifies unfulfilled customer desires and works to satisfy them through the delivery of products and services at a profit.
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The document discusses the evolution of marketing concepts from a traditional to modern perspective. It describes how traditional concepts like production and selling focused on making and distributing products, while the modern marketing concept emphasizes understanding customer needs and delivering superior value through an integrated marketing mix. The modern concept orients the entire firm around customers and involves defining target markets, understanding customer needs, coordinating marketing functions, and achieving profitability through customer satisfaction rather than just sales volume.
NATURE AND SCOPE OF MARKETING
The document provides an overview of the nature and scope of marketing. It defines marketing according to various authorities and outlines its core concepts. Marketing is defined as the process of creating, communicating, and delivering value to customers and managing customer relationships. The key elements of the marketing environment, including the internal, micro, and macro environments are described. The document also discusses customer satisfaction, value, and Michael Porter's value chain model.
Nature and scope of marketing
Marketing is defined as the process of exploring, creating, and delivering value to satisfy customer needs for profit. It identifies unfulfilled customer needs and desires. Marketing incorporates activities from product development to distribution and involves studying customer behavior to create and maintain relationships. It is both a science, by following principles to study markets, and an art that anticipates human needs. Marketing encompasses economic, managerial, and social functions to efficiently exchange goods and services between producers and consumers.
Marketing Philosophies or Concepts
Companies approach and conduct business in different ways in order to achieve their organizational goals.
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•A particular company can have its idea or philosophy that if the production is done on a large scale, the cost would be less and the product would be sold automatically.
Marketing environment
The document discusses marketing environment and defines it as forces and factors that affect a company's ability to build relationships with customers. It describes the micro and macro environment, with the micro comprising internal and external forces close to the company like suppliers, customers, and competitors. The macro environment includes large societal forces like demographics, economy, culture, technology, politics, and natural environment that indirectly impact the company. The marketing environment analysis identifies threats and opportunities to help organizations make strategic decisions.
Marketing strategy meaning & significance, formulation of
This document discusses marketing strategy, including its meaning, formulation, and significance. It provides an introduction to marketing strategy and defines it. It then outlines the main steps in developing a marketing strategy, including understanding customers, analyzing the market and competitors, defining the marketing mix, and financial analysis. It also discusses different types of marketing plans and the key components of a marketing strategy, including target market strategy, product strategy, pricing strategy, distribution strategy, and promotion strategy. Finally, it covers the importance and benefits of formulating an effective marketing strategy.
Consumer behaviour
This document provides an overview of consumer behavior. It defines consumer behavior and notes it is influenced by factors like culture, social class, psychology, and more. It discusses the different types of consumers like customers, buyers, and institutional buyers. The document also outlines the consumer decision process from obtaining a product to consuming and disposing of it. It explains how understanding consumer behavior can help with marketing by informing market analysis, target selection, and strategy. The document concludes that understanding consumer needs and wants is important for business success.
Market Control ppt
This document discusses various aspects of marketing control including definitions, objectives, types of controls, and analysis. Marketing control involves monitoring marketing plans and adjusting as needed. It defines control as monitoring actual vs desired results. Key types of control discussed are annual plan control, profitability control, efficiency control, and strategic control. Specific analysis covered include sales, market share, expenses, financials, and customer attitude tracking.
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The document provides an overview of the nature and scope of marketing. It defines marketing according to various authorities and outlines its core concepts. Marketing is defined as the process of creating, communicating, and delivering value to customers and managing customer relationships. The key elements of the marketing environment, including the internal, micro, and macro environments are described. The document also discusses customer satisfaction, value, and Michael Porter's value chain model.
Nature and scope of marketing
Marketing is defined as the process of exploring, creating, and delivering value to satisfy customer needs for profit. It identifies unfulfilled customer needs and desires. Marketing incorporates activities from product development to distribution and involves studying customer behavior to create and maintain relationships. It is both a science, by following principles to study markets, and an art that anticipates human needs. Marketing encompasses economic, managerial, and social functions to efficiently exchange goods and services between producers and consumers.
Marketing Philosophies or Concepts
Companies approach and conduct business in different ways in order to achieve their organizational goals.
•Every company can have different ideas or philosophy. For example-
•A particular company can have its idea or philosophy that if the production is done on a large scale, the cost would be less and the product would be sold automatically.
Marketing environment
The document discusses marketing environment and defines it as forces and factors that affect a company's ability to build relationships with customers. It describes the micro and macro environment, with the micro comprising internal and external forces close to the company like suppliers, customers, and competitors. The macro environment includes large societal forces like demographics, economy, culture, technology, politics, and natural environment that indirectly impact the company. The marketing environment analysis identifies threats and opportunities to help organizations make strategic decisions.
Marketing strategy meaning & significance, formulation of
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Consumer behaviour
This document provides an overview of consumer behavior. It defines consumer behavior and notes it is influenced by factors like culture, social class, psychology, and more. It discusses the different types of consumers like customers, buyers, and institutional buyers. The document also outlines the consumer decision process from obtaining a product to consuming and disposing of it. It explains how understanding consumer behavior can help with marketing by informing market analysis, target selection, and strategy. The document concludes that understanding consumer needs and wants is important for business success.
Market Control ppt
This document discusses various aspects of marketing control including definitions, objectives, types of controls, and analysis. Marketing control involves monitoring marketing plans and adjusting as needed. It defines control as monitoring actual vs desired results. Key types of control discussed are annual plan control, profitability control, efficiency control, and strategic control. Specific analysis covered include sales, market share, expenses, financials, and customer attitude tracking.
Marketing - Definition & Importance, Concepts & Marketing Management Tasks
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Role of marketing
Marketing plays important roles for both businesses and society. For businesses, marketing helps focus activities on customer needs and wants to drive satisfaction, retention, and growth. For the economy, marketing acts as a catalyst, helping raise standards of living by connecting customers with goods and services that meet their needs through efficient production and distribution systems.
Marketing management philosophies
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Marketing mix
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This document provides an overview of core marketing concepts. It defines marketing as identifying and meeting human needs profitably. The scope of marketing involves understanding customers, competitors, markets, and the marketing environment. Key concepts discussed include needs and wants, market segmentation and targeting, products and brands, delivering value and customer satisfaction, marketing channels, and competition. The document emphasizes that marketing involves all business functions and is critical for financial success. It also notes the importance of understanding changing customer and environmental factors.
Marketing features
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Sales Management
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The document then discusses the objectives, nature, functions, and goals of sales management. The main objectives are to generate sales volume, contribute to profits, and ensure growth. Functions include planning, organizing, directing, controlling, coordinating, recruiting salespeople, and advising other departments. Effective sales management requires structuring the sales organization, training and motivating the salesforce
Societal marketing concept
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Buying motives
This document defines buying motives as the impulses, desires, and considerations that motivate a person to purchase a product. It identifies several types of buying motives:
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1) It defines sales management as the management of a company's personal selling function or the process of planning, directing, and controlling personal selling activities.
2) The objectives of sales management include increasing sales volume, contributing to profits, and continuing growth.
3) A sales manager's responsibilities include sales planning, administration, policy/strategy development, forecasting, organizing the sales team, and coordinating with other departments like marketing, advertising, and production.
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It is another organization within the larger organization which is given the responsibility of selling function
It involves people working together for attaining the sales objectives of the company
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The document discusses marketing definitions from various organizations and the importance and concepts of marketing. It provides 3 definitions of marketing: 1) activities involved in creating time, place and possession utilities (American Marketing Association); 2) planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges (American Marketing Association); 3) identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing). It also discusses the marketing concept and different marketing management tasks including conversional, stimulational, developmental, remarketing, synchro, maintenance, demarketing, and counter marketing.
Role of marketing
Marketing plays important roles for both businesses and society. For businesses, marketing helps focus activities on customer needs and wants to drive satisfaction, retention, and growth. For the economy, marketing acts as a catalyst, helping raise standards of living by connecting customers with goods and services that meet their needs through efficient production and distribution systems.
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Importance of marketing
This document provides an overview of core marketing concepts. It defines marketing as identifying and meeting human needs profitably. The scope of marketing involves understanding customers, competitors, markets, and the marketing environment. Key concepts discussed include needs and wants, market segmentation and targeting, products and brands, delivering value and customer satisfaction, marketing channels, and competition. The document emphasizes that marketing involves all business functions and is critical for financial success. It also notes the importance of understanding changing customer and environmental factors.
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This document defines key marketing terms and concepts. It begins by defining the term "market" and explaining that a market involves buyers and sellers assembling to facilitate an exchange. It then provides definitions of marketing from the American Marketing Association and Philip Kotler, emphasizing that marketing involves facilitating the flow of goods and services to meet consumer needs and wants through value-creating exchanges. The document also outlines key marketing features like needs, wants, creating market offerings, and adding customer value. It describes the basic conditions required for an exchange to occur and provides examples of what can be marketed. Finally, it defines who a marketer is and provides definitions of marketing management.
Sales Management
This document discusses sales management and related concepts. It begins with definitions of sales as the completion of a commercial activity to sell products or services for money, while marketing involves promoting goods and services to create value for customers. The key difference between sales and marketing is that sales focuses on the needs of the seller while marketing focuses on the needs of the buyer.
The document then discusses the objectives, nature, functions, and goals of sales management. The main objectives are to generate sales volume, contribute to profits, and ensure growth. Functions include planning, organizing, directing, controlling, coordinating, recruiting salespeople, and advising other departments. Effective sales management requires structuring the sales organization, training and motivating the salesforce
Societal marketing concept
Marketing involves more than just advertising and sales - it includes analysing trends, determining markets, researching consumer behavior, and designing integrated marketing mixes. Societal marketing holds that companies should consider consumers' wants, their own needs, and society's long-term interests when making marketing decisions. It emphasizes social responsibilities and suggests companies develop strategies to provide more value to customers and improve customer and societal well-being over competitors. Societal marketing aims to create a favorable company image and increase sales while being ethical and addressing social needs.
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This document defines buying motives as the impulses, desires, and considerations that motivate a person to purchase a product. It identifies several types of buying motives:
Product motives refer to attributes of the product itself that drive purchases. Emotional motives involve impulsive buying based on feelings rather than logic. Rational motives involve logical analysis of the pros and cons before purchasing. Operational and socio-psychological motives involve functionality needs and social status considerations. Patronage motives influence a buyer's selection of a particular shop or brand, based on either emotional or rational factors.
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Forecasting and demand measurement
This document discusses forecasting and demand measurement. Forecasting involves estimating future demand by anticipating customer behavior under different conditions. It is important for businesses to forecast in order to plan investments, products, and capacity. There are two types of forecasting: macro, which looks at total market demand, and micro, which focuses on unit sales. Choosing a forecasting method depends on required accuracy, available data, time horizon, and product lifecycle stage. Creating a sales forecast involves estimating market demand, a company's share of that demand, and an expected sales level based on marketing plans. Common forecasting techniques analyze past sales trends, customer intentions, and customer behaviors.
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The presentation gives some idea for the persons who are new to the "Marketing Research Process". It explains the entire process that is being processed in this Marketing Research Process.
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This document discusses sales management, including:
1) It defines sales management as the management of a company's personal selling function or the process of planning, directing, and controlling personal selling activities.
2) The objectives of sales management include increasing sales volume, contributing to profits, and continuing growth.
3) A sales manager's responsibilities include sales planning, administration, policy/strategy development, forecasting, organizing the sales team, and coordinating with other departments like marketing, advertising, and production.
CONSUMER BEHAVIOUR INDUSTRIAL BUYING BEHAVIOUR
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Sales Organisation
Sales organization is a part of the total organization which is given the responsibility of selling of products manufactured by a company
It is another organization within the larger organization which is given the responsibility of selling function
It involves people working together for attaining the sales objectives of the company
It is concerned with planning, organizing, leading and controlling the activities of the sales force
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Chapter 1 introduction to marketing present
This document provides an overview of key concepts in marketing. It defines marketing according to several experts and outlines marketing management philosophies including production, sales, marketing, and societal orientations. The differences between sales and market orientations are explained. The marketing process and core concepts like customer value, satisfaction, and relationship marketing are summarized. Trends in marketing are also briefly mentioned.
Marketing
Marketing involves identifying and satisfying customer needs in order to generate profits. It includes activities like market research, product development, pricing, promotion, and distribution. A key aspect is understanding different types of markets, including consumer markets of individuals and industrial markets of organizations. Marketing aims to be customer-oriented by anticipating trends and responding to changes in order to gain a competitive advantage.
Marketing Concepts- Production, Social, Exchange, Selling, Product and Holist...
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Promotion mix of marketing
The document defines promotion mix as the specific blend of promotion tools a company uses to communicate customer value and build relationships. It identifies the main elements of promotion as advertising, personal selling, sales promotion, exhibitions, sponsorship, and public relations. Each element is then briefly described, with advertising defined as paid communication to create awareness and gain response, personal selling as managing personal customer relationships, and sales promotions as tactics to incentivize purchase like BOGO offers or money-off deals.
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Marketing involves identifying and satisfying consumer needs in a profitable way. It is defined as the management process of planning and executing the conception, pricing, promotion, and distribution of goods and services. Effective marketing is important as it allows companies to put products in the hands of targeted customers. Marketing evolves from focusing on production to developing customer-centric philosophies like relationship marketing. The key aspects of marketing include understanding markets, the marketing mix of product, price, place, and promotion, and using both push and pull strategies to create demand.
Introduction to Marketing Management (1).ppt
Marketing involves identifying and satisfying consumer needs in a profitable way. It is defined as the management process of planning and executing the conception, pricing, promotion, and distribution of goods and services. Marketing is important for all organizations because it allows them to effectively put products in the hands of targeted customers. Marketing evolves from focusing on production to developing customer-centric philosophies like relationship marketing. The key aspects of marketing include understanding markets, the marketing mix of product, price, place, and promotion, and using both push and pull strategies to create demand.
Introduction to Marketing Management.ppt
Marketing involves identifying and satisfying consumer needs in a profitable way. It is defined as the management process of planning and executing the conception, pricing, promotion, and distribution of goods and services. Effective marketing is important as it allows companies to put products in the hands of targeted customers. Marketing evolves from a production focus to being customer-centric, focusing on determining customer needs and matching a company's products and services to meet those needs. The key aspects of marketing include the marketing mix of product, price, place, and promotion.
Introduction to Marketing Management.ppt
Marketing is everyone’s business. Every person working for an
organization should understand the importance of marketing.
Definitions:
“ Marketing is the management process responsible for identifying,
anticipating and satisfying consumer requirements profitably”
Marketing is the process of planning and executing the conception,
pricing, promotion and distribution of ideas, goods and services
to create exchange and satisfy individual and organizational needs.
Introduction to Marketing Management.ppt
Marketing is everyone’s business. Every person working for an
organisation should understand the importance of marketing.
Definitions:
“ Marketing is the management process responsible for identifying,
anticipating and satisfying consumer requirements profitably”
“Marketing is the process of planning and executing the conception,
pricing, promotion and distribution of ideas, goods and services
to create exchange and satisfy individual and organisational needs.”
Marketing meaning & concepts
This document discusses various definitions and concepts of marketing. It begins by providing definitions of marketing from several experts such as the American Marketing Association and Philip Kotler. It then lists characteristics of marketing such as it being a societal process, customer-oriented, and focused on customer satisfaction. The document contrasts marketing and selling approaches. It also outlines traditional marketing concepts like the exchange, production, and product concepts as well as modern concepts like the marketing, societal, and holistic concepts. Overall, the document provides a comprehensive overview of the nature, definitions, and evolution of marketing concepts.
Similar to Marketing - nature / scope / concept (20)
Chapter 5ppt small business and their importance.pptx
Chapter 5ppt small business and their importance.pptx
Lecture 1 Introduction to Marketing Management.ppt
Lecture 1 Introduction to Marketing Management.ppt
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This document discusses consumer involvement and how it affects purchasing behavior. It explores factors that influence involvement like product importance, personal relevance, risk, and perceived cost. There are different types of involvement like enduring, situational, and emotional. Increased involvement can benefit businesses through greater brand loyalty, insights into consumer behavior, and improved product development. Involvement is measured through surveys, observations, and strategies to increase it include personalization, gamification, community building, and education. Challenges to involvement are competition, misunderstanding consumer motivations, and lack of interest.
SEGMENTATION OF CONSUMER
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Consumer behavior behaviour
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The document discusses several models of consumer behavior:
1) The economic model focuses on price and consumers seeking lowest prices.
2) The learning model sees behavior as influenced by basic and learned needs.
3) Psychoanalytical models view motives as conscious and unconscious.
4) Sociological models see groups influencing brand and product choices.
Several other models are described including the Howard Sheth model of decision stages, Nicosia model of marketing and feedback, black box model of internal influences, and EKB model of consumer journey stages from awareness to outcomes.
customer perception ppt.pptx
Customer perception is formed in four stages: exposure, attention, interpretation, and retention. It plays an important role in building customer loyalty and brand reputation. There are advantages like increased customer loyalty and influencing buying decisions. Understanding customer perception helps develop new products. However, there are also disadvantages like losing credibility if promises are false, poor customer service impacting perception, and complacency weakening perception over time.
Information Technology Act.pdf
The Information Technology Act, 2000 is the primary cyberlaw of India dealing with cybercrime and electronic commerce. It provides a legal framework for electronic governance by recognizing electronic records and digital signatures. The Act also defines cybercrimes such as hacking and publishing obscene material online, and prescribes penalties for committing them, including imprisonment and fines. Major amendments were made in 2008 to introduce additional cyber offenses and give authorities expanded surveillance and interception powers.
WTO
The World Trade Organization (WTO) was established in 1995 to oversee international trade. It has 164 member countries, including India. The WTO aims to establish rules for trade, provide a forum for negotiations, settle disputes, and offer technical assistance to developing nations. It is headed by the biennial Ministerial Conference and managed by the General Council. Key principles of the WTO include non-discrimination, most favored nation status, national treatment, reciprocity, transparency, and encouraging development. Important agreements under the WTO cover agriculture, intellectual property, sanitary and phytosanitary standards, technical barriers to trade, trade-related investment measures, and services.
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CORPORATE SOCIAL RESPONSIBILITY
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Activities undertaken by the companies under the umbrella of CSR.
BANKING MONETARY POLICY.pptx
The document discusses the monetary policy tools used by the Reserve Bank of India (RBI) to control money supply in the economy. It outlines both quantitative and qualitative instruments. Quantitative tools include open market operations, liquidity adjustment facilities like repo and reverse repo rates, marginal standing facilities, reserve ratios like SLR and CRR. Qualitative tools include credit rationing, selective credit control, margin requirements, and moral suasion. The Monetary Policy Committee headed by the RBI Governor is responsible for fixing benchmark interest rates in India according to its mandate outlined in the RBI Act.
Types of pricing strategy
This document defines and provides examples of various pricing strategies used in marketing management:
Premium pricing sets a higher price than competitors to position a product as higher quality. Penetration pricing aims to gain market share by initially pricing lower than competitors. Psychological pricing sets prices just below a whole number as customers are less likely to round up. Bundling combines two products into one package at a discounted price to move excess inventory.
CORPORATE SOCIAL RESPONSIBILITY
Corporate social responsibility (CSR) involves companies self-regulating to ensure they are accountable to stakeholders and society on economic, social and environmental impacts. CSR activities include promoting education, health, environment, and infrastructure development. The Companies Act 2013 mandates companies meeting certain net worth, turnover or profit criteria contribute to CSR. It requires forming a CSR committee to plan strategies, allocate budgets, oversee implementation and ensure at least 2% of average profits are spent on CSR activities.
Introduction to salary
Salary income includes any remuneration received by an employee in consideration for services rendered to their employer. It is taxable under Section 15 of the Income Tax Act 1961 and includes monetary value of benefits provided by the employer. Some items included in salary income are wages, annuity, pension, gratuity, fees, commission, perquisites, profit in lieu of salary, advances, leave salary, and contributions to provident funds. Standard deductions allowed under Section 16 include a standard deduction of Rs. 50,000 or the amount of salary (whichever is lower), entertainment allowance for government employees, and professional tax payments.
Functions of marketing
The document discusses the objectives and functions of marketing. The key objectives are customer satisfaction, ensuring profitability, building goodwill, creating demand, and increasing sales volume. The functions include market research, planning, product development, packaging, branding, pricing, promotion, distribution, transportation, and customer support. Marketing aims to satisfy customer needs while maximizing profits through these various objectives and functions.
Communication, meaning and introduction
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Gokila digital marketing| consultant| Coimbatore
Myself Gokila digital marketing consultant located in Coimbatore other various types of digital marketing services such as SEM
SEO SMO SMM CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Gokila digital marketer
Coimbatore
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Marketing - nature / scope / concept
- 2. Marketing Marketing means studying the market place, finding out what customers want, and then creating and delivering those products at the right price The American Marketing Association defines Marketing as the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals. Philip Kotler defines Marketing as “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. ... Marketing is meeting the needs and wants of a consumer.
- 3. Nature of Marketing ➢ Marketing is an Economic Function ➢ Marketing is a legal Process by which ownership transfers ➢ Marketing is a System of Interacting Business Activities ➢ Marketing is a managerial Function ➢ Marketing is a Social Process ➢ Marketing is a philosophy based on consumer orientation and Satisfaction ➢ Marketing as dual Objectives - Profit making and Consumer Satisfaction
- 4. Scope of Marketing Study of Consumer Wants and needs Study of consumer behaviour Production Planning and Development Pricing Policies Distribution Promotion Consumer Satisfaction Market control
- 5. Production Concept Product Concept Sales Concept Marketing Concept Societal Concept Consumer prefer Products - widely available @ low cost, since Organisation do mass production @ low cost Consumer prefer product- offer most Quality, Performance, Features. Since Organisation improving product time to time. Consumer buy product based on their promotion. Since company focus on promotion. focusing on the needs and wants of a target market, a company can deliver more Satisfaction than its competitors. emphasizes the importance of the well-being of customers and society as a whole Concept of Marketing The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. Today most firms have adopted the marketing concept, but this has not always been the case.
- 6. FUNCTIONS OF PHYSICAL SUPPLY ❖ Transportation ❖ Storage or Warehousing FACILITATING FUNCTIONS ❖ Financing ❖ Risk-taking ❖ Standardisation & Grading ❖ Marketing information FUNCTIONS OF EXCHANGE ❖ Buying and Assembling ❖ Selling and Dividing FUNCTIONS OF MARKETING Classification of Marketing Functions