Marketing facilitating function, Marketing Management

Assignment Help:

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. 


Related Discussions:- Marketing facilitating function

Explain professional and direct purchasing in market, Explain about the Pro...

Explain about the Professional and Direct Purchasing in business market and the consumer market. Professional Purchasing: Products into business markets are purchased usua

Shoppersstop, Draw the typical profiles of shoppers stop customers segments...

Draw the typical profiles of shoppers stop customers segments

Basic model of consumer decision making, (a) Differentiate the substitutio...

(a) Differentiate the substitution effect and income effect of a price change and illustrate same by way of a diagram for the case of a normal good. (b) Describe with example t

Discuss the meaning of packaging by elaborating, Discuss the meaning of pac...

Discuss the meaning of packaging by elaborating. The definition of packaging shows that package into the definite container or wrapper. Therefore packaging is a one of the sign

Segmentation, Identify and briefly describe the criteria you would use to h...

Identify and briefly describe the criteria you would use to help establish whether a variable is useful as a segmentation base.

What is way to define value in marketing of customer, What is the way to de...

What is the way to define the customer’s value in marketing? As we can define the customer value like the difference among the values the customer gains by owning and using a p

Uses of sales promotions, Uses of sales promotions: 1.       For facili...

Uses of sales promotions: 1.       For facilitating introduction of new products, 2.       For retrieving lost accounts, 3.       For overcoming a unique competitive situ

I don''t understand what the question want me write about, You work as a ma...

You work as a marketing consultant and have been approached to develop a Comprehensive Corporate Plan for one of the following events to be held at the Ricoh Arena: Olympic footbal

Pricing strategy:, Should pricing reflect the cost of making the product, b...

Should pricing reflect the cost of making the product, by an economic value approach, or should prices reflect the perceived value of the product

Various stages in the pricing of menus, Question 1: What is the Food Pr...

Question 1: What is the Food Production Cycle? Explain in detail the process of production, sales and service with regard to supervision, quality and control procedures. Qu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd