Marketing functions
Scope of Marketing:
Marketing has a very wide scope it covers all the activities from conception of ideas to realization of profits. Some of them as discussed as below:
1. Product Planning: It includes the activities of product research, marketing research, market segmentation, product development, determination of the attributes, quantity and quality of the products.
2. Branding: Branding of products is adopted by many reputed enterprises to make their products popular among their customer and for many other benefits. Marketing manager has to take decision regarding the branding policy, procedures and implementation programs.
3. Packaging: Packaging is to provide a container or wrapper to the product for safety, attraction and ease of use and transportation of the product.
4. Pricing: One of the important functions of a marketing manager is to determine the price of a product. Price is always influenced by the cost, services attached to it, government policy, competitors prices and marketer’s requirement of profit margin.
5. Channels of Distribution: Decision regarding selection of most appropriate channel of distribution like wholesaling, distribution and retailing is taken by the marketing manager and sales manager.
6. Sales Management: Selling is a part of marketing. Marketing is concerned about all the selling activities like customer identification, finding customer needs, persuading customer to buy products, customer service, etc.
7. Advertising: Advertisement decisions like scope and time of advertisement, advertisement message, selection of media, etc comes into marketing.
8. Finance: Marketing is also concerned about the finance, as for every marketing activity be it packaging, advertising, sales force budget is fixed and all the activities have to be completed within the limit of that budget.
9. After Sales services: Marketing covers after sales services given to customers, maintaining good relationships with customers, attending their queries
Marketing has a very wide scope it covers all the activities from conception of ideas to realization of profits. Some of them as discussed as below:
1. Product Planning: It includes the activities of product research, marketing research, market segmentation, product development, determination of the attributes, quantity and quality of the products.
2. Branding: Branding of products is adopted by many reputed enterprises to make their products popular among their customer and for many other benefits. Marketing manager has to take decision regarding the branding policy, procedures and implementation programs.
3. Packaging: Packaging is to provide a container or wrapper to the product for safety, attraction and ease of use and transportation of the product.
4. Pricing: One of the important functions of a marketing manager is to determine the price of a product. Price is always influenced by the cost, services attached to it, government policy, competitors prices and marketer’s requirement of profit margin.
5. Channels of Distribution: Decision regarding selection of most appropriate channel of distribution like wholesaling, distribution and retailing is taken by the marketing manager and sales manager.
6. Sales Management: Selling is a part of marketing. Marketing is concerned about all the selling activities like customer identification, finding customer needs, persuading customer to buy products, customer service, etc.
7. Advertising: Advertisement decisions like scope and time of advertisement, advertisement message, selection of media, etc comes into marketing.
8. Finance: Marketing is also concerned about the finance, as for every marketing activity be it packaging, advertising, sales force budget is fixed and all the activities have to be completed within the limit of that budget.
9. After Sales services: Marketing covers after sales services given to customers, maintaining good relationships with customers, attending their queries