Today we will tell you the 12 Most Important Functions of Marketing For Small Business that you can keep your products in demand for your products in the market. We proceed through this topic that marketing is concerned with the exchange of goods and services from producers to consumers or users in a way that maximizes the satisfaction of customer needs. From the point of view of this management function, the number of activities is included, which we have described below: Products you want to Small Business.
Before this, which precautions have to be adopted in the market, first, you should study it. The problems you see in the market every day, first you should erase it.
You will have to read this article very carefully, only then you will have the simplicity to grow your products. I know so much that any person is an expert in anything but somewhere he makes a mistake.
1. Gathering and Analysing Market Information:
We tell you that one of the important functions of a marketer is to gather and analyze market information. So it is necessary to identify customer needs and make various decisions for the successful marketing of products and services. It is important to analyze the available opportunities and threats as well as the strengths and weaknesses of the organization. And it helps to decide which opportunities can best be pursued. For example, the Indian economy is predicted to witness rapid growth in several sectors, such as Internet access, cell phones, and markets for many other sectors.
Careful scanning of powers is required for which particular organization should enter one of these areas, or which area it should expand. And, weaknesses of the organization, which are done with the help of careful Market Analysis. With the development of computers, a new trend has emerged in the collection of market information. More and more companies are using interactive sites on the Internet to collect customer views and opinions before taking on important business Decisions.
(See box on Global Brands) One of the popular TV news channels (in Hindi) wants audience choice (via SMS), on which a given four or five headlines are broadcast as detailed stories in prime time Will go. , To ensure that the audience gets to hear the story of their choice. We even hope that you have come to know the activities of gathering and Analyzing the Market.
2. Marketing Planning:
We will tell you the activity in a small way, Important Functions, what are the types of a marketing plan? Another important activity or area of Market Activity is to develop appropriate marketing plans. So as to achieve the marketing objectives of the organization. For example, color TV marketers, aiming to have 10 percent of the current market share in the country, aim to increase their market share to 20 percent in the next three years.
He will have to develop a complete Marketing Plan covering many important aspects, including planning for raising the level of production, promotion of products, etc., and specifying action programs to achieve these objectives. What are the types of marketing plans, I hope? Have known these activities.
3. Product Designing and Development:
We will tell you in a small activity, what is the difference between product design and product development? As we will discuss, another important marketing activity or decision area is related to product designing and development. The product design goal contributes to making the product attractive to customers. A good design can improve a product’s performance and also give This is a competitive advantage in the market.
For example: when we plan to buy any product called a motorbike, we not only look at its features such as cost, mileage, etc. but also design aspects like its size, style, etc. What type of marketing plan do we expect to do? These speed methods have to go. I hope? You must have understood these activities.
4. Standardizations and Grading:
We will tell you the activity in a small way, Important Functions, what is standardization and grading? As we point out, standardization refers to the production of goods of predefined specifications, which helps in achieving uniformity and consistency in output. Standardization ensures buyers that the goods conform to predetermined standards of quality, price, and packaging and minimizes the need for inspection, testing, and evaluation of products.
Grading is the process of classifying products into various important groups, such as quality, size, etc. Grading is particularly necessary for those products based on some of their important characteristics. Those not produced according to predefined specifications, such as in the case of agricultural products, wheat, oranges, etc. Grading ensures that the goods are of a special quality. And helps them come true. High value for high-quality output. I hope? You must have understood these activities.
5. Packaging and Labeling:
We will show you the activity in a small way, Important Functions, why are packaging and labeling important? we will explain that packaging refers to designing packages for products. Labeling refers to designing the label to be applied to the package. Labels can vary from a simple tag to complex graphics. Packaging and labeling have become so important in Modern Marketing, that they are considered as the basis of marketing.
The packaging is not only important for the safety of products but also serves as a promotional tool. Sometimes, product quality is assessed by buyers as packaging. We have seen that in recent times, many consumer brands have played an important role in the success of packagings such as Lays or Uncle Chips Potato Wafers Clinic plus shampoos, and Colgate toothpaste, etc. I hope? You must have understood these activities.
We will tell you in a small way the activity, Important Functions, what is the purpose of branding? We will tell you that marketing is a very important decision area for most consumer products. Whether the product has to be sold under its generic name (product category name, fan, pen, etc.). To sell them in brand names (e.g., Polar Fan or Rotomac Pen). The brand name helps to differentiate the product, that is, it provides the basis for differentiating a firm’s product from that of the competitor, which, in turn, helps build customer loyalty and boost its sales.
Important decision areas regarding branding include decision making. The branding strategy, states whether each product will be given a different brand name or the same brand name will be extended to all of the company’s products, Philips bulbs, tubes and televisions or Videocon washing machines, televisions, and fridges. Choosing a brand name plays an important role in the success of a product. I hope? You must have understood these activities.
7. Customer Support Services definition:
We will tell you in a small activity, Important Functions, why customer support is unfair to the service business? We state that a very important function of marketing management is related to developing customer support services. Such as after-sales services, handling customer complaints, and adjustments, purchasing credit services, maintenance services, technical services, and consumer information.
All these services aim to provide maximum satisfaction to customers, which is the key to marketing success in modern days. Customer support services prove to be very effective in bringing repeat sales from customers and developing brand loyalty for a product. I hope so You must have understood these activities.
8. Pricing of Products:
We will tell you in a small activity, Important Functions, how do you price a product? Many times it will happen that before lunch in your Product Market, what should be the price of your product. So let you know what the price of the product means. How much money customers have to pay to get the product. Price is an important factor influencing the success or failure of a product in the market.
Just as the demand for a product or service is related to its price. Generally the lower the price, the higher the demand for the product and vice versa. Marketers must properly analyze the factors that determine the price of a product and make a number of important decisions in this regard, including setting pricing objectives, determining pricing strategies, determining the price, and changing prices Huh. So, I hope so You must have understood these activities.
We will tell you in a small activity, Important Functions, what is an example of marketing promotion? Like we will inform customers about the firm’s product, its features, etc. in the promotion of products and services. And persuading them to buy these products. The four important methods of promotion include advertising, personal selling, publicity, and sales promotion.
A marketer has to make a number of important decisions regarding the promotion of products and services, such as setting a promotional budget, promotion mix, ie, the combination of promotional tools that will be used, promotion budget, etc. I hope so You must have understood these activities.
10. Physical Distribution:
We will tell you in a small activity, Important Functions, what are the various functions of marketing in business? We will say that physical distribution is another very important function in the marketing of goods and services. There are two major decision areas under this function.
- (A) Distribution or marketing intermediaries (full salary, retailers)
- (B) Use of decisions about the physical decisions of a product from where it is a place where it is produced.
Necessary for customers to consume or use them. The important decision areas under physical distribution are Management Inventory (level of stock of goods), storage and storage and transportation of goods from one place to another. I hope you have understood these activities.
We will tell you in a small activity, how can I promote my transportation business? As we will tell, transportation involves the physical movement of goods from one place to another. Users of products in general, especially consumer products, are widely spread. And geographically different, those produced by them are required to be taken to a place where it is needed for consumption or use, for example, tea produced in Assam.
It is consumed not only within the state but also in other places like Tamil Nadu, Punjab, Jammu and Kashmir, and Haryana, Rajasthan. A marketing firm has to analyze its transportation needs after considering various factors such as, the nature of the product, the cost and location of the target market, and deciding on the mode of transport and other related aspects. I hope you have understood these activities.
12. Storage or Warehousing:
We will tell you in a small activity, Important Functions, what is storage warehousing? As we will tell, there is usually a time lag between the production and purchase of goods and their sale or use. This may be due to irregular demand for products. As in the case of woolen clothing or raincoats or seasonal production may lead to irregular supplies, such as in the case of agricultural products (sugarcane, rice, wheat, cotton, etc.).
To maintain a smooth flow of products in the market, proper storage of products is required. Furthermore, there is a need for storage of sufficient stocks to avoid inevitable delays in delivery or to meet contingencies in demand. In the marketing process, storage is done by various agencies such as manufacturers, wholesalers, and retailers. I hope you have understood these activities.
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