Functions and Classification of Marketing Management
is a major specialized activity performed in marketing. The word marketing
was a recent addition to the ever increasing list of industrial and
technical terms. After the Second World War, the concept of marketing
was adopted to include very many factors and specialized activities.
The word marketing
was a recent addition to the industrial vocabulary. At initial stages
of its development it just referred to buying and selling activities
at market place. As the days pass on after the world war two the very
concept was adapted to include very many factors and functions come
under its meaning. During the forties and fifties of this century managers
and administrators were purely production oriented and the field and
functions of marketing was in no mans thinking.
After the production the goods have to pass through multi-various activities, before it reaches the ultimate consumer. Some of the activities are general and others are special.
More than the distribution of the goods, products and services, marketing in its ambit includes the analysis of the feedback informations form the consumers and users. This feedback information is used to after the existing decisions and policies. So that the organizational goals can say that marketing start and ends with the consumer. By condensing the above said information we can define marketing function. As an act operation or service which the original product and the ultimate consumer are linked together.
In brief marketing is involved in all activities of economic nature. From the economics point of view it creates time ,place, and possession utilities. Even though most of the functions are performed by the so called and intermediaries, this does not reduce or lesson the importance of such functions in any way. These varied functions are grouped under three types of process.
Under this process,
goods and products are collected together at a central point to facilitate
further action upon them. It is concerned with gathering, collecting
and concern rating raw materials, partly finished goods and finished
products etc at central points. This concentration to a certain extent
embraces various other functions also such as assembling, storage, financing,
grading, standardization, risk taking etc..
According to Clark, equalization consists of the adjustment of the supply to the demand on the basis of the time and quality. This sort of adjustment can be done through storage and transportation in market centres
It refers to the allotment of the raw materials to the producer and the final products to the consumers in lots of small and big sizes suitable for their consumption.
Classification of Marketing Functions
There is consensus regarding the functional area of marketing. It varies from 5 to 36 and Rayan has even identified 120 different kinds of marketing functions in the marketing journey of the products and articles.
(A) If we accept the marketing concept as stated in previous lesson we must agree to the simple proposition that supply in the functions of demand and therefore subservient to it, here demand is the limiting and key factor. So a better understanding of the demand will make clear about the various functions of marketing. Bates and Parkinson divide it into four aspects. They are
1. Analysis and
forecasting i.e., marketing research
The success in marketing
of a firm depends upon the co-ordination of these ingredients in such
a way as to create a suitable mix to the particular situation in hand.
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