The Seven Functions of Marketing – Flashcards
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Distribution
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The process of deciding how to get goods to customers.
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Financing
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Getting the money that is necessary to pay for setting up and running a buisness.
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Marketing Information Management (Marketing Research)
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The gathering and analysis of information regarding customers, trends, and the competing products.
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Pricing
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The cost of producing a product, the price that the competition is selling the product for, and how much people are willing to pay for the product.
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Product/Service Management
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Developing and improving a product in responce to a customers needs and wants.
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Promotion
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The effort to inform, persuade, or remind potential customers of your good(s) or service(s).
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Selling
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Determing the customer's needs and wants, and the responding to them through planned, personalized communication.
