Study Notes
The marketing process involves eight major functions and numerous
related activities. All of these functions are essential if the marketing
process is to be effective.
Exchange Functions: All companies such as manufacturers,
wholesalers and retailers buy and sell to market their merchandise.
1. Buying- includes such functions as obtaining raw materials to
make products, knowing how much merchandise to keep on hand
and selecting suppliers.
2. Selling- creates possession utility by transferring the title of a
product from seller to customer.
Physical Distribution Functions: These functions involve the flow of
goods from producers to customers.
1. Transporting- involves selecting a mode of transport that provides
an acceptable delivery schedule at an acceptable price.
2. Storing- goods is often necessary to sell them at the best-selling
time. Storage is an activity in physical distribution that creates time
utility by holding and preserving products from the time of
production until their sale.
Facilitating Functions: These functions help the other functions take
place.
The marketing process involves eight major functions and numerous
related activities. All of these functions are essential if the marketing
process is to be effective.
Exchange Functions: All companies such as manufacturers,
wholesalers and retailers buy and sell to market their merchandise.
1. Buying- includes such functions as obtaining raw materials to
make products, knowing how much merchandise to keep on hand
and selecting suppliers.
2. Selling- creates possession utility by transferring the title of a
product from seller to customer.
Physical Distribution Functions: These functions involve the flow of
goods from producers to customers.
1. Transporting- involves selecting a mode of transport that provides
an acceptable delivery schedule at an acceptable price.
2. Storing- goods is often necessary to sell them at the best-selling
time. Storage is an activity in physical distribution that creates time
utility by holding and preserving products from the time of
production until their sale.
Facilitating Functions: These functions help the other functions take
place.
