Marketing Functions
The marketing function is a service that links the finished goods with the final consumer. Several activities are involved, from production to the distribution of products to the customer. Therefore, it is challenging to split the marketing process into a few functions. Each company has different ways of approaching the marketing concept. Coca Cola Company, for example, runs a similar advert during the Christmas season every year. Nike, on the other hand, promotes products that are essential for athletes. Recently, the company made wearable devices linked with web and apps that contain training and networking for athletes. Such products contain the company’s trademark. This means that when athletes put on these products, the general public will get to know it is a product from Nike Company.
The result of the marketing process is to get the product to the consumer finally. However, the concept comprises many business aspects. To deliver a product to the customer, a producer needs to find an efficient distribution channel. Here, marketing comes in to play as it guides the producer on how to find the target group in the society. Market research is one of the crucial ways of obtaining information about potential customers. The information will provide insight into the types of goods they require and why a particular supplier is better than the rivals. These functions are essential in business, but they are not enough to take you to success as a business person.
Pricing of the commodities can determine the success or failure of a company. If it sets higher than that of rivals, it will not sell more of the product, and if it sets it below them, it is likely to make low profits. With marketing, the organization can be able to understand the right prices to charge. From the producer to the consumer, the product passes through activities that require a marketing function. Hence there is no simple way of describing marketing.
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