Universal Marketing Functions – Flashcards
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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.
