The 7 Marketing Functions Marketing CoOp Distribution Financing

The 7 Marketing Functions Marketing Co-Op

Distribution Financing Marketing Information Management Product/Service Planning Promotion Pricing Selling

Financing O Getting the money needed to finance the operation of a business O Decisions regarding payment options for customers

Marketing Information Management O Process of getting and analyzing the marketing information needed to make good decisions O Information Collected O Customer’s trends O Habits O Attitudes O Where they live

Pricing O The decisions that dictate how much to charge for goods and services in order to make a profit O Usually based on O Costs O What competitors are charging O How much customers are willing to pay

Product/Service Management O Obtaining, developing, maintaining, and improving a product or product mix in response to market opportunities

Promotion O Any form of communication used to informing, persuading or reminding potential customers about a business’s products or services O Examples O Advertising – Radio and TV O Publicity – Improving public image (recycling, going green, etc. )

Selling O Providing customers with goods and services they want to buy O Types of selling O Retail O Business to Business O Personal

Distribution O Making decisions about where to sell the product and how it will get into the customer’s hands