Showro… Identify and detail the activities and initiatives of the following functional areas of management in the private higher education institution you chose: The Human Resources Function The Marketing Function Purchasing Function Operations function. Storing assumes importance when production is regional or consumption may be regional. One of the most important functions of marketing department is to design a set of written goals, objectives and strategies for marketing activities of the organisation. Loyalty Incentives PUBLIC RELATIONS – How to use the media 1. This required market research. Relationship marketing helps companies strengthen customer loyalty and … Marketing - Marketing - Economic and social aspects of marketing: Sometimes criticized for its impact on personal economic and social well-being, marketing has been said to affect not only individual consumers but also society as a whole. Obviously, the broadening scope of marketing research should materially increase the efficiency of the total marketing function. Marketing is an effective tool that helps the company's owners to sell their products regardless of the method of sale. Retailers need to know about sources of supply and also about customers “buying motives and buying habits”. Manufacturers need to know about retailers and about advertising media. Marketing departments are experts at creating short and creative messages that are concise and add to the visual appeal. Marketing helps to increase sales, profits, and flow of customers. Radio 1. If you have a store where you sell your own products, you can personally make sure that you have staff that will help customers. Retail firms are called “stores”. Marketing information makes a seller know when to sell, at what price to sell, who are the competitors, etc. If the firm is the only one that sells this kind of goods in this territory, then it can afford to set the price above the market prices. Marketing is the crucial tool in the modern business organizations; it involves understanding of marketplace, demands of consumers, building profitable relations, customer driven market strategy and provide quality among the customers. Standardization and Grading 6. Financing 7. Market Information. Gathering and Analysing Market Information: Gathering and analyzing market information is an important function of marketing. It involves the division of products into classes made of units possessing similar characteristics of size and quality. Written By Nathan Ellering @njellering. Then to achieve the same, need is felt for planning, organising, staffing, directing and controlling of marketing activities. A manufacturer buys raw materials, spare parts, machinery, equipment’s, etc. Distribution. The organization has to gather the four P’s of marketing in appropriate combination. TOS 7. The assembly operation involves the arrival of individual component parts at the work place and issuing of these parts to be fastened together in the form of an assembly or sub-assembly. Marketing relies mainly on railroads, trucks, waterways, pipelines and air transport. Modern marketing requires a lot of information adequately, accurately and speedily. Common sources for consumers are sales people, media advertisements, colleagues, etc. Under it, an effort is made to understand the consumer thoroughly in the following ways: It creates place, utility. How to Select Marketing Metrics and KPIs to Prove Your Strategy Works. Referral Programs 1. Similar to traditional channels, marketing in the digital space would be those activities that drive an instant action from the consumer, such as search marketing, ads, promotions and EDMs. Though the pursuit of social responsibility and ethical marketing does not automatically translate into increased profit, it is still the responsibility of the firm to ensure it is responsible for its actions and their impact on society. Functions and Activities of HRM 1. In July 2020, Amazon reported a 43.4% increase in North American sales and 33.5% worldwide revenue growth in the second quarter of 2020.Online sales of groceries have tripled as consumers went online in large numbers to buy food during the coronavirus pandemic, and … The other activities that facilitate marketing are standardisation and grading. Instead, marketing is one function within a larger organization, and it operates within a competitive market environment. This is one of the most difficult aspects of marketing. 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