To exchange (barter) goods and services.  

To improve the quality of life of the society. 

To develop product by enhancing market segment. 

To introduce new modes of life.

To determine the price of goods

Emphasises on the product

Emphasises on the consumers

Emphasises on the consumers` needs

Sales are the primary motive

Satisfaction of the customer is primary

First production, then selling takes place  at a profit without knowing customer’s  needs.

First customers need is known and the  production takes place.

Company’s need is the motive.

Buyers need is the motive.

customers are the  very purpose of the business.

customers are the last  link in the business.

an activity that converts goods into  cash

a function that converts the  

consumer needs into products

Function of Exchange

Function of physical supply

Transportation

Storage and warehousing

Market functions

place

product

consumer

price

promotion