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Selling

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promoting or advocating for a good or service and/or negotiating for its pric

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Buying

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bearing or taking steps to mitigate the uncertainties that occur in a market system or in the marketing process

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Standardization

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organizing goods and/or services according to size or functionality

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Storing

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holding products until the time is appropriate for making or breaking bulk

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Grading

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organizing goods and/or services according to quality or perceived performance

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Risk-Taking/ Speculation

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bearing or taking steps to mitigate the uncertainties that occur in a market system or in the marketing process

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Transportation

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moving goods and services from one location to another

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Financing

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providing cash flow that enables production or purchase

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Collect/Disseminate market information

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the collection, analysis, distribution, and/or storage of data, facts, and opinions that contribute to marketing decision making.

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Universal Marketing Functions – Flashcards

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