Marketing facilitating function, Marketing Management

Facilitating function:

These functions make the marketing process easy and include financing, pricing, risk bearing, standardization and the market information etc.

1.      Financing: it is very difficult to carry on marketing activities smoothly without the availability of the adequate and cheap finance. Commercial banks, corporative credit societies, and government agencies arrange for short term finance, and long term finance to facilitate marketing. Trade credit is also one of the important sources of the finance.

2.      Pricing: pricing is also an important function which is closely alluding to selling. Price policy of the concern directory affects the profit element and therefore, its successful functioning. In determining the price policy, several factors are to be borne in the mind such as cost of the product, competition prices, marketing policies, government policies, or customary or convenient prices etc.

3.     Risk bearing: in marketing there arise numerous risks damages to the goods, physical loss, changes in economic values of the goods, mismanagement, credit losses etc. these are more or less inherent in the marketing process. There are losses on accounts of fire, flood, deterioration, bad debts etc. on all these occasions an intelligent businessman reduces the possibility of the risks. Thus the risks are to be shouldered, shifted or to be reduced. Some of the risks are insurable while other is not.

4.    Standardization: Standardization is related with the division of the commodities into distinct groups. Standard is used in providing certain basic qualities to the goods for their use. Standard is a specification. It is a norm grade or a category. Standards are fixed on physical characteristics of the products. The standardized product possesses uniform characteristics. For example, shape weight, size etc.

5.     Market information: the desired success of the marketing depends on correct and timely decision. These decisions are based on the market information or market intelligence. Modern marketing must have information about of size, location, characteristics of the market etc. The customer's wants, habits, purchasing power etc. are to be considered the strength or weakness of competitions trend in market; supply and demand, etc. are also to be taken into account. Marketing conditions are dynamic and affect the industry to any extent. Market information includes all facts, estimates, opinion, and the other information used in making decisions, which affects the marketing of the products or services. 

Posted Date: 9/19/2012 3:24:40 AM | Location : United States







Related Discussions:- Marketing facilitating function, Assignment Help, Ask Question on Marketing facilitating function, Get Answer, Expert's Help, Marketing facilitating function Discussions

Write discussion on Marketing facilitating function
Your posts are moderated
Related Questions
T arget Market This is the collection or population of customers or consumers that an organization has in mind as the primary audience for its goods or services and to

Question 1: Determine the Employee Role of Dominance Detailed explanation on ‘Employee Role in Service Designing' Question 2: What is service differentiation?

Ask question #Minimum 100 words should video games companies continue to alter their products to include other function , such as email?accepted#

Illustrate the term price leadership strategy. he presence of a leader assists to regulate the market and ignore too many price changes oligopolistic markets, in that the numbe

Ask For each of these markets, plan, discuss and justify what, in your opinion, IKEA''s marketing strategy should be in the near future to gain market shares and achieve higher pr

Q. Evaluate the effectiveness of goodwill Advertisement ? Goodwill ads are issued to develop the image of the organization in the long run. The intention of these ads is to imp

Role of the environment scanning in the organizations: property used environmental scanning can help to ensure organizational success. The specific organizational roles or functio

Question 1: (a). Elaborate using examples, two advantages the internet provides to direct marketers. (b). Apart from online marketing as a form of direct marketing, de


Explain the various approaches that are followed by FMCG COMPANIES IN TEST MARKETING