14/05/2022
Functions of marketing
Marketing can perform several functions.
1. analytical.
It implies an investigation and study of internal and external factors influencing the company to some extent, the market - its current state, competitors and the needs of the audience. All data obtained during these studies help to see an objective picture of the current situation, to make better decisions, correctly determine strategies, methods and choose the tools to be used.
2. Production.
It implies everything that is related to the production of a product, from the development and mastering of technologies to the organisation of material and technical resources. The production function of marketing allows you to improve the quality characteristics of the product and, consequently, its competitiveness.
3. The function of management and control.
Any activity in the enterprise requires control and management - this is another function of marketing. The realization of a good management structure, planning, forecasting, communication and information departments are the basic functions that all large enterprises should have.
4. Sales function.
It implies activities aimed at increasing sales and demand stimulation: pricing, assortment creation corresponding to demand and desires of consumers, promotion and advertising, sales promotion.
5. Innovation.
This function implies development and introduction of innovative technologies into production, creation of new goods or services.