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  • MarketFunctions101
  • 
  • Product/Service Management includes developing and obtaining a product to the customers wants and needs.
  • Market planning  shows how a business will plan to advertise their product-guides decision making-less money and time wasted
  • . involves determining and adjusting prices to maximize return and meet customers’ perceptions of value. Well recognized brands may use value-based pricing.
  • Gathering data from targeted audience, analysis. This helps with accurate information for customers.(ex:surveys, customers sharing analytics to help them develop better software)
  • marketing info information
  • pricing
  • Identifies, selects, monitors, and evaluates sales channels (a.k.a. channels of distribution)Puts products in the customers’ hands
  • Channel management involves identifying, selecting, monitoring, and evaluating sales channels
  • Examples may include:a luxury bakery that only sells certain products in upscale areas, sales and operations planning.
  • Selling involves interaction with customers. influences purchase decisions and enhances future business opportunities.
  • Promotion Informs, persuades or reminds customers about a business and/or its products(ex: ads, deals, sales, public relations)
  • promotion/selling
  • Any Questions?
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