Functions
Purchasing
Obtaining goods and services for use in the operation of a business or for resale.
What is a product?
Goods and services.
What is form utility used for?
Making or producing things
Pricing
The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.
What are goods?
Material items you can touch.
Time utility is?
Making a product available at the right time of year or a convenient time of day.
Product planning
The process of creating a product in response to market opportunities.
What are services?
A series of task performed for a customer.
What is place Utility?
The product’s usefulness is increased because of its location.
Promotion
Communicates information about products, services, images or ideas to customers or clients to influence their purchase behavior.
Marketing provides?
The means for the exchange process.
What is Information utility?
Usefulness added to the product through communication.
Marketing Information Management
Gathering, recording, analyzing and disseminating information to aid in making marketing decisions.
What is Marketing?
Making or producing the correct good or service to add value to consumers everyday life.
What is Possession utility?
The ability to aid customers in owning goods.