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What Are The Importance Of Marketing And Its Function?

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Marketing is one of the most important aspects of business. It is a function through which organizations recognize the needs of the individuals and then plan and communicate their product according to these needs.

Marketing serves a number of functions. However, it is often detailed as serving seven functions. These functions are given below:

- Marketing Information Management: This function is used for obtaining and using the information about the market and making decisions for the organization on its basis.
- Financing: Financing involved financial budgeting or planning for the marketing activities of an organization.
- Pricing: Setting the value of a product or a service at which it will be available to the customer.
- Promotion: Communication tools for familiarizing the organization and its product to the public.
- Product and service management: By designing and developing appropriate products and services.
- Distribution: Chalking out how the customer will access the product or service.
- Selling: Communicating with the potential customers for future sales.
Ankit Srivastava Profile
The marketing concept is a philosophy. It makes the customer, and the satisfaction of his/ her needs, the focal point of all business activities. It is driven by senior managers, passionate about delighting their customers.
Importance:
* Marketing focuses on the satisfaction of customer needs, wants and requirements.
* The philosophy of marketing needs to be owned by everyone from within the organization.
* Future needs have to be identified and anticipated.
Functions:
* Try to find out the actual needs of customer.
* Design a product or service, which can satisfy the customer needs.
* To be confirmed about the fulfillment of the customer needs.

It's another thing that not many companies are cared about the satisfaction of customer's needs.

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