Can You Describe And Discuss The Key Functions Of Marketing?

Marketing is basically a process of realizing the needs of the consumers and producing and promoting a product so that the need of the consumer is satisfied. It is the process of planning the marketing mix for the products in order to create a transaction.

The functions of marketing are as follows:
- Conducting analysis of the market and the environment around the organization.

- Analysis of consumers by using Market segmentation.

- Planning the product or service according to lifecycle of products.

- Planning for distribution channels and sales of the product.

- Planning for progress of products and services by creating demand for the product.

- Pricing.

- Development of marketing programs and overall communication strategy.

These functions are critcal to all the organizations around the world. This is because they have to do extensive work on these functions so that they can make an appropriate product for the market and then communicate and distribute it to the consumer so that sales can be generated.