Forums Marketing What are the functions of marketing?

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    What are the functions of marketing?


    Ans. There are different functions of marketing which are taken care of by the marketer while developing the new products for selling. These are as follows:

    Gathering and analyzing marketing information

    The first function is to gather information about the market and then analyze that information for the development of the new products. The analysis is done for ascertaining the taste and preferences of the consumers in a particular market.

    Market planning

    Organizations are required to make the market plan in which the detailed information about the goals of the organization are given according to which the production takes place.

    Product design and development

    Designing a product is very important. The product must be designed in a way that can attract a greater number of people which is the ultimate goal of the marketers.

    Packaging and labeling

    Packaging and labeling are one of the important functions of marketing. Packaging needs to be done properly to ensure the safety of goods in transit. Labeling also needs to be done in order to provide the specifications of the product to the customer.

    Pricing of products and promotion

    The next important function of marketing is to price the product according to the consumers in the target markets. The price must not be too high that the consumers will not be able to buy the product and it should not be too low that even the cost associated with the production of the product will not cover. After pricing, the product is promoted through advertisements.

    Distribution, transportation, Storage, and warehousing

    The last function of marketing that organizations need to perform is distribution, transportation, and storage. When the production takes place, the goods are distributed to the markets where these are sold to the consumers through different transports that are available with the marketer. When the delivery of the goods is scheduled for some time later then the goods are stored in the warehouses till the time of delivery.

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