Marketing and It's Functions

Marketing:
Marketing is a managment process which identifies, anticipates and supplies customer reqirements efficiently and profitably.(Charterd Institiute Of Marketing U.K)

Functions Of Marketing :

According to Prof. G.B Giles there are seven functions of markeing.

1. Marketing Research
2. Marketing Planning
3. Product Development
4. Advertisement and Salespromotion
5. Selling and Distribution
6. Aftersales and Service
7. Public Relation

1. Marketing Research:

"Marketing research is the function that links the consumer, customer, and public to the marketer through information - information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the methods for collecting information, manages and implements the data collection process, analyzes, and communicates the findings and their implications."
(American Marketing association - Official Definition of Marketing Research)

OR
The systematic gathering, recording, analyzing, and use of data relating to the transfer and sale of goods and services from producer to consumer.

2. Marketing Planning :

A logical sequence and a series of activities leading to the setting of marketing objectives and the formulation of plans for achieving them.

OR

Marketing planning is the process to creat a roadmap and know about the need of market before the development of a product.

OR

Marketing planning involves assessing the environmental situation and accordingly chalking out the roadmap towards accomplishing long-term marketing objectives of an organization.

3. Product Development :

The revitalization of a product through the introduction of a new concept or consumer benefit. Product development is part of the product life cycle. The concepts or benefits that can be implemented range from modification of the product to simply introducing new packaging.

4. Advertisement and sales promotion :

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an
identified sponsor.
Sales Promotions are short-term incentives to encourage the purchase or sale of a product or
service.

5. Selling and Distribution :

The exchange of goods for an agreed sum of money is called selling.

Act of distributing or portioning something out; particular group to which something is distributed (e.g. a newspaper or magazine); allotment; systematic division of items into parts; (Statistics) probability or frequency with which items are distributed into various groups

6. Aftersales and Services:

A company's after-sales service is all the help and information that it provides to customers after they have bought a particular product.

7. Public Relation :

Building good relations with the company’s various publics by obtaining favorable publicity,
building up a good corporate image, and handling or heading off unfavorable rumors, stories, and
events.

Public Relations Functions
• Press
Relations
• Product
Publicity
• Public Affairs
• Lobbying
• Investor Relations
• Development

Public Relations Tools
• News
• Speeches
• Corporate Identity
Materials
• Mobile
Marketing
• Special Events
• Written Materials
• Audiovisual
Materials
• Public Service Activities.