Marketing Functions Of Marketing And Marketing

1229 Words May 23rd, 2016 5 Pages
Business world has changed in the past few years, owing to globalization, advent of technology and emergence of de-regulation in market place. At the same time the vendors have altered the business model, while consumers are becoming more aware and knowledgeable. In the wake of such trends, the marketing function is used as a measure in the business-to-business practice, to capture and place varied products in a market place (Kono, 2004). A typical market function provides details regarding the planning, information, product distribution, consumer support, risk taking, financing, and standardization and grading amongst other things (Makloof and Sundberg, 2006). In business a market function acts in respect to the corporate marketing, strategic marketing, field marketing and analysis. Furthermore the relevance of this measure, is also evident in the case of product management and marketing (Kono, 2004).
Relevance of marketing functions Typically a market function in business influences the consumer orientation for the organization, and contribute towards the organizational performance (Makloof and Sundberg, 2006). It is reflected that an influential marketing function becomes responsible for effective financial performance, owing to the analytic marketing intelligence framework, and day-to-day management of the market by the organization (Merlo and Bell, 2007). Most marketing studies focus on marketing process and strategies, and fail to consider the relevance of this…
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