MARKETNG 300 Study Guide - Final Guide: Customer Relationship Management, Riak, History Of Marketing
Document Summary
Macro view of marketing: social process that directs an economy"s flow of goods and services from producers to consumers in a way that effectively matches supply and demand and accomplishes the objective of society, heterogeneous supply capabilities and demands of goods and services, right time, right place, at the price they are willing to pay. Universal functions of marketing: buying: looking for and evaluating goods and services, selling: promoting the product, transporting: movement of goods from one place to another, storing: holding goods until customer need them, standardization and grading: sorting product according to size and quality, financing: provides the necessary cash and credit to produce, transport, store, promote, sell and buy products, risk taking: bearing the uncertainties that are part of the marketing process, market information function: collection, analysis and distribution of all the information needed to plan, carry out, and control marketing activities.
