Marketing functions are sales functions, physical distribution and auxiliary functions.
Sales Function
Product Planning and Development
Product planning begins with an idea, idea screening and product prototype. It also takes into account the purchasing power of consumer, taste and market segmentation.
Read also: Relationship Marketing Process and Methods of Marketing Research
Standardization and grading
It is related to setting certain standards/levels to complete production of goods. Standardization and grading are carried out by the production sector and regulated by some government agencies such as the Nigerian Standards Organization. For example, sprites are 30 CLs, coke is 35 CLs, etc.
Purchase and assemble
Here we focus on marketing agencies that buy goods or services at cheaper prices to resell to end users at the lowest prices. These marketing agencies include wholesalers, retailers and agents.
sell
Sales involve selling finished products to individuals who need them. To get the attention of your target consumers, you must start developing various promotional strategies such as discounts, promotional tools, bundlings, bonuses, etc.
Also read: Basic Concepts of Marketing
Physical distribution
Storage
Store goods to meet future needs as well as time and other utilities.
transportation
It involves the transportation of goods from manufacturers to target consumers.
Auxiliary functions
Marketing Finance
That is, points are allowed to be obtained from customers and credit from banks, individuals, etc.
adventure
Risk means uncertainty’ Carrying out new business requires risks such as lost items, road attacks, weather risks, etc.
Market Information
It focuses on collecting necessary information about the market and target consumers, from their purchasing power, taste, color, choice, competition and product aspects.
Read also: Definition and Introduction to Proper Marketing
