FUNCTIONS/SCOPE OF MARKETING

Jun 29th, 2015
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The scope of marketing is very wide. The most widely accepted classification of marketing functions is given by Clark and Clark. The marketing functions are categorized into 3 major groups.

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FUNCTIONS/SCOPE OF MARKETING:The scope of marketing is very wide. The most widely accepted classification of marketing functions is given by Clark and Clark. The marketing functions are categorized into 3 major groups. They are;1. Functions of Exchange2. Functions of Physical Supply3. Facilitating FunctionsFunctions of Exchange:The process of passing goods into consumer hands is known as function of exchange. This function is divided into:a) Buying and Assemblingb) SellingBuying and Assembling:Buying involves transfer of ownership of goods. Buying is one of the important steps of marketing. It is the first step in the process of marketing. A manufacturer is required to buy raw materials for production purposes. Similarly a wholesaler has to buy goods to sell them to retailer, and retailer buy goods to sell it to consumer. Assembling starts after the goods have already been purchased. Assembly involves creating and maintaining of the stock of goods purchased from different sources. Both these processes are not simple and they require specialized knowledge on the part of the buyers.Selling:Selling involves transfer of title of goods to the buyers. This is another important function of marketing. It is important from the point of the view of seller, the consumer and the general public. Efficiency in selling is the most important factor that affects the existence of a firm. Mass production has necessitated mass selling of goods. Demand creation is one of the fo

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