Marketing Function | Identify, Satisfy & Produce

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Marketing Function | Identify, Satisfy & Produce | tinobusiness.com
Marketing Function | Identify, Satisfy & Produce | tinobusiness.com

Today, no one doubts that companies and organizations need to be able to meet its (current and potential) customers and to satisfy them with higher competitive offers, in exchange for a utility or benefit.

In that sense, the marketing constitutes one of the most important functions of businesses and organizations because they can:

  • 1) Identify and know their target markets,
  • 2) Satisfy them in the best possible way and
  • 3) Produce a certain return. All of which (a personal opinion) leads to other functions such as production, financial, administrative, etc.

It is therefore essential that any marketer knows what is the depth of the marketing function and what are its main functions, in order to properly use it to satisfy the needs and desires of the target market and for the benefit of the business or organization.

 

 

Defining the :


  • For Philip Kotler , author of “Marketing Management”, the marketing is the function of the company that is responsible for defining target customers and how best to meet their needs and desires competitively and profitably “ [1].
  • According to Ricardo Romero , author of “Marketing”, the marketing , in a broad sense, “is a function of the companies comprising a series of activities about themselves but closely interrelated objectives together to serve the objectives of the company” .Expanding this definition, Romero explains that the function of marketing is: “the analysis, planning, execution and control of actions and programs for exchanges, in order to achieve those objectives and customer satisfaction” [2].

In conclusion, the role of marketing is basically: “The identification of target customers and satisfying their needs or desires of a competitive and profitable for the company or organization; all through market analysis, planning of different marketing activities, the implementation of planned activities and control the progress and achievements “ .

 

 

 

Main functions of marketing:


According to Laura Fischer and Jorge Espejo, authors of “Marketing”, the main functions of marketing, are [3]:

  1. Market research : This role involves conducting studies to obtain information that facilitates the practice of marketing [3], for example, to know who they are or can be consumers or potential customers, identify their characteristics (what they do, where They buy, why, where they are located, what their income is, etc …), determine their needs and desires and the degree of readiness they have to satisfy, etc …
  2. Decisions about the product : This function is related to product design, in terms of variety, quality, design, brand, packaging, and features; in short, everything with which pretend to meet the needs or desires of the group or target market for which it was created. At this point, it is recalled that a product is any offer that can satisfy a need or desire and could be one of the ten basic offerings:
    1. 1) Real,
    2. 2) services,
    3. 3) experience,
    4. 4) events,
    5. 5) persons,
    6. 6 ) places,
    7. 7) properties,
    8. 8) organizations,
    9. 9) information and
    10. 10) ideas, [4].
  3. Pricing decisions : This role involves setting a price that is appropriate on the one hand, to the target market (so you can buy it) and on the other, to the company or organization (to perceive profits).
  4. Distribution or Square : This function is in charge of laying the groundwork for the product reaches the consumer manufacturer [3], for example, indirectly through a system of direct distribution (from producer to end customer) or (when at least one level of intermediaries).
  5. Promotion : This function of marketing is responsible for:
    1. 1) To present the product to the target market;
    2. 2) to persuade it acquires or
    3. 3) remind the existence of a product already known. At this point, it remembers that the main tools of the mix or promotional mix are: personal selling, advertising, sales promotion, public relations and direct marketing.
  6. Sale : This role involves conducting any activity generated in the final push customers to the exchange. It is at this point, which becomes effective the effort of the previous activities [3].
  7. Aftermarket : This function is related to any activity (usually, services) that is made after the sale to ensure customer satisfaction. The premise of this function is: “The important thing is not to sell once but remain on the market (at this point it is again analyzes the market for feedback)” [3].

It is noteworthy that in the opinion of Laura Fischer and Jorge Espejo, successful marketing requires the proper management of these seven functions through the planning, organization, integration, management, and control; ie the marketing management [3].

what-is-marketing Marketing Function | Identify, Satisfy & Produce | tinobusiness.com

 

Conclusions:


In conclusion, the marketing is a function of the company or organization (as is the production function, financial, administrative, etc …) which is intended to identify target markets to meet their needs or desires through proper implementation the following functions:

  • 1) Market research,
  • 2) product decisions,
  • 3) pricing decisions,
  • 4) distribution or plaza
  • 5) promoting,
  • 6) Sale

All with the purpose of generating a profit or benefit to the company or organization.

 

 

Sources:

[1] : From the book: Marketing Management, Eighth Edition, by Philip Kotler, Prentice Hall, pp. 32.

[2] : From the book: Marketing, Ricardo Romero, Editor Palmir EIRL, p. 107.

[3] : From the book: Marketing, Laura Fischer and Jorge Espejo, Mc Graw Hill, p. 26.

[4] : From the book: Essential Concepts Marketing Management, Philip Kotler, Prentice Hall, p. 6.

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