Coordination

Introduction

Important marketing functions

Marketing Functions

• To achieve success in marketing, effort must be made to have glimpse of the big picture and the activities that must be performed to achieve the set marketing objectives. These set of activities are called marketing functions
• Marketing function refers to a set of specialised processes/activities performed in order for the objectives of marketing to be achieved.
• Thus the objective of:
• Giving value/satisfaction to consumers at steady supply at a reasonable price
• Achieving good customer relationships
• Profit / benefit to producers or organization and its stakeholders. i.e. having a convenient outlet of sales at a remunerative price

Marketing Functions

Important marketing functions

Marketing Functions

• It is often asserted that marketing serve as a bridge between producers and consumers.
• This property of marketing is achieved through marketing functions
• Thus, market function is a link between producers and consumers

Marketing Functions…
Producers
Consumers
Marketing
Functions
Marketing Bridges the Gap!

Important marketing functions

Various of marketing functions

• There are several components of marketing functions. These include

Marketing Functions…

• Researching
• Pricing
• Buying
• Promotion
• Distribution
• Storage
• Processing

• Product development and management
• Standardization and grading
• Market Information
• Financing
• Selling
• Risk Bearing
• After sales-service

• The fulfillment of these functions in a particular place/culture/commodity varies widely, but all the functions are needed in any macro-marketing system.