Good marketing is said to be an analysis of what clients want to buy and then they help them do so. Marketing is a real science as well as an art and is very important to every company's success. We will take a look at the marketing roles. One of the first moves that the business has to take is to recognize the market's needs and wishes of customers. They must collect data and evaluate this information to do so. You will base your product design on this knowledge until you fully understand your client. Below are some of the functions of marketing;
Promotion is usually at or near the top of the list as people map out their marketing priorities. For any marketing department, putting your name in front of prospective clients, creating brand recognition and raising the image of your company are big priorities.
Promotional techniques, such as advertisement and public relations, frequently overlap with other business divisions and awareness-building events. Promotion can include anything from content marketing and email marketing to social media and influencer marketing, from a marketing perspective.
PRICING OF PRODUCTS:
Fixing the price of a commodity is the most significant role of a marketing manager. The price of a product is influenced by the quality, the profit rate, the price of the competitive product, the government's policy, etc. The price of a commodity should be set in such a way that it should not seem to be too high and, at the same time, the company should gain adequate profit.
PACKAGING AND LABELLING:
The box and the mark are the first impressions that your product makes on the customer, so they are important. Not only can they secure and classify the products, they are excellent marketing tools. There is evidence that in making a product a success, an appealing packaging and label will go a long way.
A very significant feature in marketing is customer service. It includes pre-sales guidance, after-sales support, customer complaint and modification management, credit services, repair services, technical services and information for customers. For instance, with an on-site service warranty of 7 years, the water purifier assists in marketing and is also an essential marketing feature.
STANDARDIZATION AND GRADING:
Standardization means the production of products at predetermined requirements. Standardization ensures that product offerings comply with the quality and quantity defined. In the production product, it helps to achieve uniformity and consistency. Grading is the grouping of products, based on some predetermined attributes, into different classes. This includes the control norms of height, weight, etc.
Market-planning aims at achieving the business goals of an organization. Such goals may include increasing the presence of the industry, dominating the market or increasing market share. The business planning role includes aspects of the level of development, promotions and other programmes of action.
One of the most important tasks of marketing is to recognize the needs, desires and demands of customers and then evaluate the defined information to arrive at different decisions for the effective marketing of the goods and services of a business. The research includes analysing the organization's internal vulnerabilities and strengths as well as the target market's political, legal, social and demographic data. In market segmentations, this data is further used.
One of the significant marketing roles is risk taking. Marketing risk-taking refers to uncertainty regarding customer purchases arising from the production and marketing of products and services that could be purchased in the future by customers.