Introduction
Marketing is a means of communication which take place between an individual and customers where the main goal is to sell the products to the customers. Describing the value of one’s product and service is the key aspect of marketing.
Marketing Functions
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. Marketing functions begin with identifying the needs of the customers and end up satisfying those customer’s needs. The global functions of marketing involve selling, buying, storing, grading, standardizing, risk taking and marketing organization information. Moreover, modern marketing has come up with new implications which include gathering of marketing information and analyzing the information. Market planning and strategy formation. Designing of product and functions falls under market functions. The important of marketing are discussed below in regards.
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. The analysis of this information include judging the organization strengths and weaknesses and also the political, social and demographic conditions of the target market. The information is used further during market segmentation. McDonald’s in addition, the organization opportunities and threats are identified.
Market planning
Market planning aims at achieving the organization marketing objectives. The objectives include increasing the organization presence in the market, dominating the market and increasing the shares in the market. Market planning covers the area of production levels, the promotions and other actions programmers.
Exchange Function
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