Question

Explain any four functions of marketing.

Hint:

Management principles, consumer responsibilities, and marketing functions are interconnected—understanding them helps build responsible businesses and informed consumers.

Answer 1

Marketing involves various functions to ensure that goods and services reach consumers effectively. Four functions are:
Market Research: Gathering information about consumer needs, preferences, and market trends to design appropriate strategies.
Product Development: Designing and improving products to match consumer requirements and remain competitive.
Promotion: Communicating with consumers through advertising, sales promotion, and publicity to increase sales.
Distribution: Ensuring products are available at the right place and time through efficient channels of distribution.