Role of Marketing. Functions of Business Management/ Administration Accounting/FinanceMarketing Functions of Marketing Marketing ConceptMarketing MixMix.

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Presentation transcript:

Role of Marketing

Functions of Business Management/ Administration Accounting/FinanceMarketing Functions of Marketing Marketing ConceptMarketing MixMix ProductionOperations

Wheel of Marketing Information System FinancingPricingPromotion Product/ Service Management DistributionSelling

Marketing Concept Using the needs of customers as the primary focus during the planning, production, distribution, and promotion of a product or service

Marketing Mix Product Place Price Promotion

Marketing Information Management Gathering and using information about customers to improve business decisions

Financing Budgeting Customers paying for products purchased Loans and capital needed to operate a business

Pricing Process of establishing and communicating the value of cost of goods and services to customers

Promotion Using advertising and other forms of communicating information about products, services, images, and ideas to achieve a desired outcome

Product/Service Management Designing, developing, maintaining, improving, and acquiring products or services so they meet customer needs

Distribution Determining the best way to get a company’s products or services to customers

Selling Direct and personal communication with customers to access and satisfy customer needs