What is a Marketing Function: Marketing function is defined as the role that helps a company source relevant products for the market and promote them through differentiation, thus being able to highlight their unique selling propositions. Typical marketing functions include: 1. Marketing research 2. Developing a marketing plan 3. Product development 4. Standardization and grading 5. Packaging and labeling 6. Pricing 7. Promotion 8. Distribution 9. Customer service and support Below is each marketing function described in detail: 1. Marketing Research: Marketing research is the most important marketing function which helps ascertain the wants and needs, and life roles of the target audience. In light of the market research carried out you can determine how and when to launch the product after having gathered and analyzed the market information. 2. Market Planning: Market planning includes laying down a course of action for achieving the objectives that you have set…
What is Cost based Pricing? Cost based pricing includes calculating the cost of a product and then adding a…
PESTLE analysis as we know is the acronym for political, economic, socio-cultural, technological, legal, and environmental. It is a…
What is PESTLE Analysis? PESTLE analysis (acronym for political, economic, socio-cultural, technological, legal, and environmental, ) analysis is a…
Workplace safety refers to ensuring the safe environment at the place where employees do their jobs. Workplace safety is…
Gap analysis involves the comparison of actual performance and the desired or potential performance of a business. The resultant…
Globalization refers to the process of international trade, the interchange of information, communication, the interaction between people and so…