BMK 201 Lecture Notes - Lecture 26: Tunxis Community College, Market Intelligence
6 Jan 2021
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Document Summary
Can classify the activities in the marketing process by their functions. Defined as a major specialised activity performed in accomplishing the marketing process marketing process. Gives an answer to the what" or who does what" question in the marketing process. Facilitating functions standardisation, risk bearing, financing, market intelligence. Buyers seek sources of supply at the best" prices. Sellers seek buyers through advertising/promotion to receive the best" price. Those functions which facilitate the physical and exchange functions of the. Standardisation functions ensure objective qualities and quantities of products are. Financing functions enable capital to be tied up in stocks of products between. Risk bearing functions relate to losses which may be incurred during the holding. Market intelligence functions are those which provide actors with the data and known to actors in the marketing process stages of the product analysis to operate. Alternatively, you can classify the activities in the marketing process by the institutions involved.
