Understanding the 7 Functions of Marketing

What is the primary goal of the Product/Service Management function in marketing?

• To determine the business location

• To manage the budget effectively

• To develop and maintain products or services

• To create advertisements

Which function of marketing involves making decisions about how much to charge for products and services?

• Financing

• Pricing

• Promotion

• Selling

What is the main focus of the Distribution function in marketing?

• Designing products

• Deciding on the price

• Making products available in convenient locations

• Advertising products

Which marketing function is directly involved in informing and persuading potential customers about products and services?

• Selling

• Market Planning

• Promotion

• Information Management

Market Information Management involves:

• Creating a budget for marketing activities

• Gathering, storing, and analyzing information about customers

• Deciding where to sell products

• Choosing which products to sell

Which function of marketing involves obtaining funds to cover the costs of marketing activities?

• Financing

• Selling

• Pricing

• Distribution

What is the purpose of the Selling function in marketing?

• To set prices for products and services

• To advertise products and services

• To communicate directly with potential customers to determine and satisfy their needs

• To gather information about customers

Market Planning involves:

• Designing products that will appeal to customers

• Determining strategies for the marketing mix

• Deciding how to distribute products

• Setting prices for products and services

Which of the following best describes the role of Pricing in marketing?

• To create a budget for marketing activities

• To determine how products will be distributed

• To decide the value customers are willing to exchange for products

• To gather and analyze market information

The Promotion function of marketing is NOT directly responsible for:

• Creating advertisements

• Direct selling to customers

• Designing products

• Organizing sales promotions