Marketing Functions

SERM #42

The 6 Marketing Functions

• Product/service management• Distribution• Selling• Marketing-information management• Pricing• Promotion

Product/Service Management

• Obtaining, developing, maintaining, and improving a product or product line in respond to customer needs and wants

Product Service Management Example

• Ex: See how the Coca-Cola bottles have changed with the times and with customer’s needs and wants!

Distribution• Making decisions about where to sell the

product and how it gets there

Distribution Example• Ex: Bands pack trailers and busses to

transport their equipment to and from venues.

Selling• Providing customers with goods and

services they want to buy.

• This includes retail and business to business

Selling Example• Business to

Business• Corporate Luxury

Boxes

• Business to Consumer• Club Seating

Marketing Information Management

• Process of collecting information about customer trends, and competitor products

• Marketing Research• Used to determine customer demographics, buying habits,

and attitudes

• How do we get this information?• Surveys• Google search history• Reward cards• Credit card purchases

Marketing Information Management Example

• Ex: J.Crew asks for your zip code before you purchase something.

Pricing• How much to charge for goods and

services

• Most decisions take competition into consideration

Pricing Example• Ex: Tickets to a Raven’s game are sold on a

mark-up of 25%, based on cost.

PromotionAny form of communication used to inform, persuade, or remind people about a business’s products

Promotion example• Ex: Free baseball hats are given away at

a baseball game

Activity• Apply the Marketing Functions to the

Fantasy Football