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Marketing Management

-IVTH SEM BBM

2. MARKETING FUNCTIONS
INTRODUCTION- Marketing made up of no of activities known as marketing functions.
Fulfilling Clark

the needs of consumers.

and Clark defined marketing function as a major specialized activit performed in marketing.! of goods from producers to ultimate consumers involves man operations known as marketing functions.

"ourne

#lassification of Marketing functions


$here

is no uniformit among writers a%out marketing functions %ecause difficult in determing where marketing %egins and ends. Functi n! " e#c$ange 'u ing and assem%ling (elling Functi n! " &$'!ical !u&&l' $ransportation (torage.

&. Clark and Clarka. i. ii. %. i. ii.

c. Facilitating "uncti n!
i. ii. iii. iv.

Financing )isk taking Market information (tandardization.

2. Cundi"" Still and G (ani cla!!i"icati n " marketing "uncti n!) a. Merc$andi!ing Functi n!- consists of those activities necessar to make availa%le to market the products and services and also to fit the needs of particular market to create demand for their products.

i. ii. iii. iv.

*roduct planning and +evelopment(tandardizing and ,rading- uniformit 'u ing and assem%ling (elling. (torage and warehousing $ransportation. Financing- short term and long term financing. )isk %earing. Market information.

%. *$'!ical di!tri%uti n "uncti n


v. vi.

c. Au#iliar' "uncti n!
vii. viii. i-.

A.

MERC+ANDISING FUNCTIONS- consists of those products necessar

to

make availa%le to market products and services.


,. ---

*r duct &lanning and De(el &ment(tarting point of entire marketing programme in a firm. .nvolves /ualit performance of the product0 features0 design0 colour0 size0 shape etc. +efined as an act of marketing and supervising research0 development and commercialization of new products0 modification of e-isting lines and discontinuance of marginal items. *roduct development em%races technical activities of products includes1 #reating idea of a new product. (creening of idea. +evelopment and testing of concept.

--

-i. ii. iii.

2valuating its prospects v. $est Marketing vi. *ricing product vii. *roducing for sale. 2. Standardi-ing and Grading- setting up of standards to produce goods in conformit with standards. - (tandards are set with regard to size0 shape0 colour0 design and material. ,rading- s stem of dividing products into different classes. - +ivided according to their size0 /ualit and characteristics. - (imilar characteristics in one grade.
iv.

3..u'ing and A!!em%ling- process of ac/uiring goods at the

right place0 at right time0 in right /ualit and /uantit and form a right source of suppliers.
-

+etermining ones need i.e what to %u 0 how much to %u and when to %u . Finding out source of suppl . 4egotiation of prices according to terms and conditions. $ransfer of title to goods from seller to %u er.

A!!em%ling- collecting goods from small producing centers and %ringing them to a central place for further disposal. - 5arious parts are %rought from various suppliers and are assem%led in consuma%le units. 2g. 'i-c cles0 automo%iles.

'u ing *ractices1


,.

C ncentrated %u'ing- ena%les %u er to secure certain %enefits %eing a regular customer.6limited or single source of suppl 7 - %u er gets %etter service0 prompt deliver 0 reasona%le price0 higher discounts and more credit facilities from the seller.
/.

Di(er!i"ied r !cattered %u'ing- %u ers make purchase from large no of suppliers. .t is a fle-i%le s stem. Reci&r cal %u'ing- %u ing is made on reciprocal %asis. C n!er(ati(e r $and t m ut$ %u'ing- fre/uent %u ing S&eculati(e .u'ing- purchases are made in %ulk % placing large orders with a view to sell them at higher prices in near future.

0. 1. 2.

8. (elling- process of transfer of ownership of goods or services to a %u er in e-change of mone . (u% functions or 2lements of selling1
i. ii. iii. iv. v.

*roduct planning and development 2sta%lishing contact with %u ers #reation of demand 4egotiation 2ntering into a contract.