Which of the following are functions of marketing?
Answer Details
The functions of marketing include production, promotion, distribution, and pricing.
Production refers to the creation of a product or service that meets the needs of the target market. This includes researching and developing the product, determining the features and benefits that will appeal to the target market, and creating a production process that is efficient and cost-effective.
Promotion involves the communication of information about the product or service to the target market. This includes advertising, sales promotions, personal selling, and public relations. The aim of promotion is to inform, persuade and remind customers about the product, and to create a favorable image of the company and its products or services.
Distribution refers to the process of making the product or service available to the target market. This includes transporting the product, storing it, and making it available for purchase through retail outlets, wholesalers or online channels. The aim of distribution is to ensure that the product is available to the customer at the right place and at the right time.
Pricing refers to the process of setting a price for the product or service that is acceptable to both the customer and the company. This involves considering the production costs, market demand, competition, and other factors that may affect the pricing decision. The aim of pricing is to set a price that is fair and competitive, while also generating a profit for the company.
Therefore, among the given options, the functions of marketing are production, promotion, distribution, and pricing.