1.

Explain the following functions of marketing:1. Gathering and analysing market information2. Marketing planning3. Customer support services and

Answer»

1. Gathering and analysing market information: Gathering and analyzing market information is an important function of marketing. Under it, an effort is made to understand the consumer thoroughly in the following ways:

• What do the consumers want?

• In what quantity?

• At what price?

• When do they want (it)?

• What kind of advertisement do they like?

• Where do they want (it)?

• What kind of distribution system do they like? All the relevant information about the consumer is collected and analysed. On the basis of this analysis an effort is made to find out as to which product has the best opportunities in the market.

2. Marketing planning: In order to achieve the objectives of an organisation with regard to its marketing, the marketer chalks out his marketing plan. For example, a company has a 25% market share of a particular product. The company wants to raise it to 40%. In order to achieve this objective the marketer have to prepare a plan in respect of the level of production and promotion efforts. It will also be decided as to who will do what, when and how. To do this is known as marketing planning.

3. Customer support service: It refers to a group of services which aim at providing maximum satisfaction to the customers. A marketeer offers primarily the following services to the customers:

a. After-sales-services

b. Handling customers’ complaints

c. Technical services

d. Credit facilities

e. Maintenance services

f. Product related information Helping the customer in this way offers him satisfaction and in today’s competitive age customer’s satisfaction happens to be the top-most priority. This encourages a customer’s attachment to a particular product and he starts buying that product time and again.



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