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Functions and Importance

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21 views16 pages

Functions and Importance

Uploaded by

rakeshellboy2006
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Marketing

Management

Dr.A.Poomagal
A
Agenda
Functions of Marketing

Importance of
Marketing

Activity

Timeline

Summary

Presentation title 2
Functions of Marketing
Management
The term functions of marketing management means the
main role of this type of management in any organization.

We need to understand the major functions of marketing


management in order to understand and groom our
organization. The following are some of the major
functions of marketing management −

Presentation title 3
Selling

• Selling is the crux of marketing.


• It involves convincing the prospective buyers to actually
complete the purchase of an article/product/service
• It includes transfer of ownership of products to the buyer.
• Selling plays a very vital part in realizing the ultimate aim
of earning profit.
• Selling is groomed by means of personal selling,
advertising, publicity and sales promotion.
• Effectiveness and efficiency in selling determines the
volume of the firm’s profits and profitability.
Presentation title 5
Buying and Assembling

• It deals with what to buy, of what quality, how much from whom,
when and at what price.

• People in business purchase to increase sales or to decrease costs.

• Purchasing agents are much tempted by quality, service and price.

• The products that the retailers buy for resale are selected as per
the requirements and preferences of their customers.

Presentation title 6
.
Assembling

 Assembling means buying necessary component parts and to fit them together
to make a product.
 ‘Assembly line’ marks a production line made up of purely assembly functions.
 The assembly operation includes the arrival of individual component parts at
the work place and issuing of these parts for assembling.

Presentation title 8
Transportation
 Transportation is the physical means through which products are moved from
the places where they are produced to those places where they are needed
for consumption.

 It creates locational utility.

 Transportation is very important from the procurement of raw material to the


delivery of finished products to the customer’s places.

 Transportation depends mainly on railroads, trucks, waterways, pipelines and


airways.

Presentation title 9
Storage
It includes holding of products
in proper, i.e., usable for
saleable, condition from the
time they are produced until
they are required by
customers in case of finished
products or by the production
department in case of raw
materials and stores.

Presentation title 10
Standardization & Grading

Appearance
Weight Quality Design Size, taste
& Materials

Presentation title 11
Standardization & Grading

Standardization means setting up of certain standards or specifications for


products based on the intrinsic physical qualities of any item. This may
include quantity like weight and size or quality like color, shape, appearance,
material, taste, sweetness etc. A standard gives rise to uniformity of products.

Grading means classification of standardized items into certain well defined


classes or groups. It includes the division of products into classes made of
units possessing similar features of size and quality.
Grading is very essential for raw materials; agricultural products like fruits
and cereals; mining products like coal, iron and manganese and forest
products like timber.
Presentation title 12
F
Financing
• Financing involves the application of the capital to meet the
financial requirements of agencies dealing with various activities
of marketing.
• The services to ensure the credit and money needed and the
costs of getting merchandise into the hands of the final user are
mostly referred to as the finance function in marketing.
• Financing is required for the working capital and fixed capital,
which may be secured from three sources — owned capital, bank
loans and advance & trade credit.
• In other words, different kinds of finances are short-term,
medium-term, and long-term finance.

Presentation title 13
RISK TAKING & MARKET INFO

RISK TAKING MARKET INFORMATION


• Risk means loss due to some unforeseen situations. • The importance of this facilitating
• Risk bearing in marketing means the financial risk function of marketing has been recently
invested in the ownership of goods held for an
anticipated demand, including the possible losses marked. The only sound foundation on
because of fall in prices and the losses from which marketing decisions depend is
spoilage, depreciation, obsolescence, fire and timely and correct market information.
floods or any other loss that may occur with the
passage of time. • The importance of this facilitating
• They may also be due to decay, deterioration and function of marketing has been recently
accidents or due to fluctuation in the prices induced
by changes in supply and demand. The different marked. The only sound foundation on
risks are usually termed as place risk, time risk, which marketing decisions depend is
physical risk,
timely and correct market information.

Presentation title 14
Summary
DISCUSSION BY STUDENTS

Presentation title 15
Dr.A.Poomagal​

Thank Assistant
you Professor

SRFMS

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