Podcast
Questions and Answers
What is the definition of Market Planning?
What is the definition of Market Planning?
What is Product and Service Management?
What is Product and Service Management?
Assisting in the design and development of products and services to meet the needs of prospective customers.
What does Distribution refer to in marketing?
What does Distribution refer to in marketing?
Determining the best methods and procedures for customers to locate, obtain, and use products and services.
Define Risk Management in marketing.
Define Risk Management in marketing.
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What is the purpose of Pricing in marketing?
What is the purpose of Pricing in marketing?
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What is Promotion in marketing?
What is Promotion in marketing?
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What does Selling involve?
What does Selling involve?
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What is Marketing-Information Management?
What is Marketing-Information Management?
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What does Financing involve in marketing?
What does Financing involve in marketing?
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Study Notes
Marketing Functions Overview
- Market Planning involves identifying target markets and creating strategies tailored to each segment.
- Product and Service Management focuses on the design and development of offerings that meet customer needs.
Distribution
- Distribution encompasses the methods and procedures that enable customers to find, acquire, and utilize products and services effectively.
Risk Management
- Risk Management aims to provide security for products, personnel, and customers while minimizing risks linked to marketing decisions and activities.
Pricing
- Pricing establishes and conveys the value of products and services, influencing customer purchasing decisions.
Promotion
- Promotion is the process of communicating with prospective customers through various channels, including advertising, to motivate them to buy.
Selling
- Selling involves personal, direct communication with customers to understand their needs and provide suitable products and services.
Marketing-Information Management
- This function entails collecting, managing, and utilizing market information to enhance decision-making and improve the effectiveness of marketing efforts.
Financing
- Financing includes budgeting for necessary funds and offering financial support to customers to facilitate the purchase of products and services.
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Description
This quiz comprises flashcards covering nine essential functions of marketing. Each card presents a key marketing term along with its definition, helping you grasp core concepts crucial for effective marketing strategies. Perfect for students and professionals looking to enhance their marketing knowledge.
