What Are The 7 Function Of Marketing?
Marketing is one of the most important aspects of business. It is a function through which organizations recognize the needs of the individuals and then plan and communicate their product according to these needs. Marketing serves a number of functions. However, it is often detailed as serving seven functions. These functions are given below: – Marketing Information Management: This function is used for obtaining and using the information about the market and making decisions for the organization on its basis. – Financing: Financing involved financial budgeting or planning for the marketing activities of an organization. – Pricing: Setting the value of a product or a service at which it will be available to the customer. – Promotion: Communication tools for familiarizing the organization and its product to the public. – Product and service management: By designing and developing appropriate products and services. – Distribution: Chalking out how the customer will access the product or
