Marketing Functions in Organization - 1571 Words

jhcakfjswwwwMARKETING AND ITS FUNCTIONS Marketing has a connective function in society. It connects supply and demand or production and consumption. At micro-level, marketing builds and maintains the relationship between producer and consumer. At business unit level, marketing can have an integrative function. It integrates all the functions and parts of a company to serve the markets. The narrowest definition is to see marketing as a function of a business enterprise between production and markets taking care that products move smoothly from production to customers. 2.2. The societal function of marketing In modern society production and consumption are apart from each other. Marketing connects them. From the societal point of view,†¦show more content†¦For a marketing system to be operative and effective, there are three general types of functions which it must provide. †¢ Exchange functions: - buying - selling - pricing. †¢ Physical functions: - assembling - transport and handling - storage - processing and packaging - grading and standardisation. †¢ Facilitating functions: - financing and risk-bearing - market information - demand and supply creation - market research. Exchange functions are what is commonly thought of as marketing. They involve finding a buyer or a seller, negotiating price and transferring ownership (but not necessarily physical transfer). These functions take place at the market - that is, the physical meeting point for buyers and sellers at the point of production or via some other means of communication. At this point, formal or informal property rights are important to ensure the reliable transfer of ownership and to guarantee legality (e.g. that animals on sale were not stolen and will not be reclaimed). Physical functions enable the actual flow of commodities through space and time from producer to consumer and their transformation to a form desirable to the consumer. Assemblying or concentrating the product at convenient points allows its economical transport (i.e. getting enough animals together to transport cheaply). This is a valuable function which is often overlooked in the public perception of traders. Storage allows theShow MoreRelatedMarketing Functions Within The Organization1084 Words   |  5 PagesAdvertising and Selling is only part of the whole marketing process. There are many definitions used to describe marketing. 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