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What are the 6 functions of marketing in a business

What are the 6 functions of marketing within the business environment? (Business Studies)

What is marketing

Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. Some marketing is done by affiliates on behalf of a company.

6 Marketing functions with real example examples

  • Support the overall objectives of a business, which is to maximise profits.
  • Gather information about customer needs, preferences and buying behaviour and share information with other departments. Example: Market Research.
  • Assist the development of the marketing strategy in collaboration with senior management from other business functions. Example: deciding how the new coke flavour drink should taste like based on what customers like.
  • Develop a marketing plan using elements of the marketing mix.
  • Develop sales forecasts and projections and provide this information to other business functions. Example: How Covid-19 will affect the sale of the new coke drink flavour.
  • Decide which products or services the business is going to sell and how the products will be distributed.

Extra:

  • Determine what prices (cash or credit) they are going to sell. Example: How much should the smallest coke can drink be.

Sources

https://www.investopedia.com/terms/m/marketing.asp#:~:text=Marketing%20refers%20to%20activities%20a,on%20behalf%20of%20a%20company.

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