Functions
Purchasing
The process where a customer acquires goods or services by exchanging money or its equivalent.
Form utility
Making or producing things
products
Goods and services.
Pricing
pricing is the process of determining the monetary value at which a product or service will be offered to customers.
Place utility
The product’s usefulness is increased because of its location.
Goods
Material items you can touch.
Product planning
the process of developing a new product or service.
Time utility
Making a product available at the right time of year or a convenient time of day.
Services
A series of tasks performed for a customer.
Promotion
the various methods companies use to communicate with and persuade their target audience about their products or services.
Possession utility
The ability to aid customers in owning goods.
Marketing information management
a systematic process that involves collecting, organizing analyzing, and utilizing marketing-related data to support strategic decision-making and drive business growth.
Information Utility
Usefulness added to the product through communication.
ex.. Packages, labels, advertisements, displays, signs.
what is marketing
Making or producing the correct good or service to add value to consumers everyday life.