An Overview of Marketing: Functions, Market Planning & Exchange

This presentation provides an introduction to essential marketing functions, focusing on the exchange of goods and services to satisfy customers. It highlights the importance of market information, which involves identifying customer needs and analyzing data for informed decision-making. Market planning is discussed as a means to achieve organizational marketing objectives, while exchange functions are centered on buying and selling. The presentation also emphasizes product designing and development for market attractiveness and competitive advantage. Furthermore, it covers physical distribution, standardization, grading, financing, and risk-taking as vital components of marketing functions. Finally, customer support is presented as an important aspect of marketing, including after-sales services and complaint resolution. The presentation references academic works to support its points.

Marketing Essential

Introduction
 This presentation explores different functions of
marketing along with the information related to market
which is required.
 Along with this, areas such as market planning,
exchange function and product design is also mentioned
in this presentation.

Marketing Functions
l The main goal of marketing is exchange of
the goods and services from the organization
to the consumers in a way in which
customers feel satisfied with the product.

Market information
 It involve identifying the customer needs,
wants and demands and analyzing the
information so as to come up with the best
decisions for a successful marketing of the
organizations goods and services.

Market planning
 Market planning aims at achieving the
organization marketing objectives

Exchange Functions
Buying and selling is the core principle of
marketing.

Product Designing and
development
 The designing of the product make it
attractive to the target market and enable
organization to compete with other firm in the
market.

Physical Distribution
The physical distribution of marketing
function include the storage and transportation
of the product.

Standardization of the product
and grading
 Standardization involve producing goods at a
desired specifications.
 It ensures that the product meet the
established quality and standards.

Financing
 Financing in marketing function involves
giving credit to the channel members and
consumers so as to enable them purchase
the product at higher rate.

Risk taking
 Risk taking is one of the important aspects in
marketing functions.
 In marketing, risk taking involves uncertainty
in producing the product

References
 Valos, M. J. and et. al., 2016. Exploring the integration
of social media within integrated marketing
communication frameworks: Perspectives of services
marketers.
 Marketing Intelligence & Planning. 34(1). pp.19-40.
 Kachersky, L. and Lerman, D., 2013. Bridging
marketing's intentions and consumer
perceptions.
 Journal of Consumer Marketing. 30(7).
pp.544-552.