Introduction to Business: Marketing Function (Complete Discussion)
Introduction to Business: Marketing Function (Complete Discussion) – Talking about marketing, so far the author understands that marketing is an activity or process of selling purchases made of goods and services are also a process of fulfilling people's needs for goods and services service.
Introduction to Business: Marketing Function (Complete Discussion)
According to Philip Kotler And Gary ArmstrongMarketing is a process where when a company creates value for consumers or customers and build a strong relationship with consumers, aiming to obtain value from consumers as reward.
Marketing Function
This marketing activity is very important for an organization or company. The marketing function is an activity carried out to complete a marketing process. This marketing function is solved by the producers and the institutions involved in it.
Such as banks, transportation businesses, insurance agencies and so forth. There are analyzing activities within the marketing management function, namely an analysis of what is being done to find out the market environment and marketing, so that they will know about how big the opportunities are in seizing the market and the possible threats that must be faced in marketing.
There are seven types of marketing functions, including the following:
1. Consumer Analysis
Is an observation of all the needs and desires of consumers. This consumer analysis involves conducting consumer surveys, analyzing consumer information, evaluating locations, developing and determining strategies for optimal market segmentation.
2. Sales of products and services
Sales of products and services, which includes many activities within marketing, such as sales promotion, advertising, dealer relations, publicity, sales force management and consumer relations.
3. Planning
Planning for products and services includes various activities such as product packaging, marketing tests, product styling, use of guarantees and provision of consumer services. One of the most effective product and service planning techniques is market testing.
4. Pricing
Stakeholders or five stakeholders greatly influence pricing decisions, namely: consumers, suppliers, distributors, competitors and the government.
5. Distribution
Distribution, which consists of warehousing, distribution coverage, distribution channels, area sales, courier transportation, wholesale sales, inventory levels and locations, retail and venue locations retail.
6. Marketing research
That is a collection, recording and analyzing a systematic data regarding various kinds of issues related to marketing. This research activity really supports all the main business functions of an organization.
7. Opportunity analysis
Opportunity analysis, which involves an assessment of the costs, risks and benefits associated with marketing. There are three ways to do a cost-benefit analysis, namely: calculating the total costs associated with a decision; estimating the total benefits of the decisions made; and compare the total costs with the benefits. If the desired benefits can exceed the total costs, then the opportunity becomes more promising and attractive.
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