Marketing 1 explores the seven core functions which are Marketing Planning, Marketing-Information Management, Pricing, Product/Service Management, and how industry and target market play a role.
Marketing Functions and Related Activities
What are the marketing functions and related activities?
The six marketing functions are product/service management, pricing, promotion, selling, marketing-information management, and distribution. These functions focus on understanding customers and providing what they want.
The 7 Functions of Marketing Explained
What are the 7 functions of marketing?
The seven functions are:
- marketing information management
- product and service management
- pricing
- promotion
- selling
- distribution
- financing
Your product or service is central. Pricing determines your audience’s buying willingness. Promotion helps your target audience discover your offering. Selling is crucial. Distribution involves where and how you sell your product. Financing is needed to operate. Marketing information management gathers important data.