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Make corrections. There are three categories of marketing functions: exchange functions, physical functions, and facilitating functions. *Each one should be defined and explained.*Discussion should include the microcosm of the internal business itself and the larger macrocosms it operates in, such as the cultural, societal, and legal realms. You should also discuss the relationship-building process between organizations and their customers that center on customer satisfaction and understand how consumers develop product and service loyalty and how companies maintain consumer retention. In addition, discussion of the multiple influences of the consumer decision-making process with a discussion of marketing research and its applicability. The five P's of marketing could also be discussed here. Please reduce the number of direct quotes in your paper, I am unable to award you full points if the words in the paper are not yours. Paraphrasing/using your own words is a better option to demonstrate the knowledge you have gained from the coursework and your research.
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C16D Assignment 4_04
12/18/2017
Core Marketing Functions Within an Organization
Marketing function refers to the process through which the original producer of a product
or service is linked to the final consumers. Marketing function is the most important aspect of
business and needs to be properly carried out because failure to do that may put the business in a
position which it is unable to sell out its products to the customers. The marketing’s main
objective is to collect goods from producers and do all it takes to make products ready for the
consumers. Marketing functions can be categorized into types: Functions of exchange, functions
of physical supply and facilitating functions.
Functions of Exchange
This is the process by which goods and services are transferred from the money’s worth.
Function of exchange can be separated into two parts: buying and assembly, and selling.
Buying and Assembly. This is the first step in the marketing ladder. Raw materials that are to be
used for production are bought by the manufacturer (Alp, 2014). After manufacturing of
products is through, wholesalers buy the product from the manufacture, with the objective of
selling them to retailers. The retailer buys products to sell them to the consumers.
Selling. The eventual goal of any business is to make profits (Steven McDonald, 2017). In order
to achieve this goal, selling plays a very significant role. Before any sale is made, there is no
business progress. Additionally, selling also plays an important role in the satisfaction of the
needs of the consumers. Selling can simply be described as the process that involves the transfer
of goods ownership from the supplier to the purchaser. It also pr...