Marketing Functions
There are eight Universal functions that are performed in marketing these are as shown in fig these
are Buying, selling, transporting, storing, standardizing and grading, financing and finally risk taking
now lets discuss these one by one:
• Buying: (Raw material to
produce goods and services and
to purchase finished goods or
services as retailer or whole seller
to sell them again for final
customers and consumers). It is a
function that ensures that
product offerings are available in
sufficient quantities to meet
customer demands
• Selling: The function to be
performed to sell the
products/services/idea to satisfy customer needs or wants. Using advertising, personal
selling, and sales promotion to match goods and services to customer needs
• Transporting: Function related to create the availability of product or services. It is used
for moving products from their points of production to location convenient for purchases
• Storing: Warehouses are used to store the products for further distribution.
• Standardizing and grading: To provide more quality products and services without
variation in the quality. Ensuring that product offerings meet established and grading
quality and quantity control standards of size, weight, and other product variables
• Financing: Providing the financial resources to carry out different function e.g. promotion
of product and providing credit for channel members (wholesalers retailers) or consumers
• Risk taking: Marketer takes a risk specifically when any new product is introduced in a
market because there are equal chances of success and failure. Dealing with uncertainty
about consumer purchases resulting from creation and marketing of goods and services
that consumers may purchase in the future
• Securing Marketing Information: Collecting information about consumers, competitors,
information and channel members (wholesalers, and retailers) for use in making marketing
decisions Almost all marketing functions are based on information acquired from external
There are eight Universal functions that are performed in marketing these are as shown in fig these
are Buying, selling, transporting, storing, standardizing and grading, financing and finally risk taking
now lets discuss these one by one:
• Buying: (Raw material to
produce goods and services and
to purchase finished goods or
services as retailer or whole seller
to sell them again for final
customers and consumers). It is a
function that ensures that
product offerings are available in
sufficient quantities to meet
customer demands
• Selling: The function to be
performed to sell the
products/services/idea to satisfy customer needs or wants. Using advertising, personal
selling, and sales promotion to match goods and services to customer needs
• Transporting: Function related to create the availability of product or services. It is used
for moving products from their points of production to location convenient for purchases
• Storing: Warehouses are used to store the products for further distribution.
• Standardizing and grading: To provide more quality products and services without
variation in the quality. Ensuring that product offerings meet established and grading
quality and quantity control standards of size, weight, and other product variables
• Financing: Providing the financial resources to carry out different function e.g. promotion
of product and providing credit for channel members (wholesalers retailers) or consumers
• Risk taking: Marketer takes a risk specifically when any new product is introduced in a
market because there are equal chances of success and failure. Dealing with uncertainty
about consumer purchases resulting from creation and marketing of goods and services
that consumers may purchase in the future
• Securing Marketing Information: Collecting information about consumers, competitors,
information and channel members (wholesalers, and retailers) for use in making marketing
decisions Almost all marketing functions are based on information acquired from external
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