The marketing function
Category: Marketing
The marketing function consists of:
Research
| Market Research | Investigation of the size of markets; the rate of growth and decline, market shares of competitors, factors affecting all or any of these. |
| Product Research | Attempts to define product specifications, required performance, price levels acceptable, etc. Also evaluates the technical merits of products and changes of developments taking place |
| Distribution Research | Evaluates the distribution methods used or expected, the best method to be used, location of depots; stock holdings necessary for specified delivery periods, changes taking place which are liable to affect these points. |
| Advertising Research | Research into the effectiveness of advertising and promotional methods used, evaluation of the effective methods available, media and copy to be used, etc. also again, relevant changes taking place. |
Sales
| Sales Policies | the policies to be implemented in the light of research studies (above) and historical knowledge of the market places. |
| Product Policies | the products to be sold («product mix»), rationalisation of obsolete products, new product plans, etc |
| Pricing Policies | the policies to be followed regarding price structure and prices, trade terms, discounts, etc |
| Sales Plans | the selling plans to be fulfilled, i.e. quantity of each product to be sold by customer; area; industry, etc. based on the product and sales policies defined for itself by the company |
| Pricing Plans | the pricing strategy to be followed as a result of the pricing policies defined |
| Distribution Plans | define the method of distribution to be followed, etc; warehousing and stock levels. |
| Management | Concerned with the control of the sales operation; recruitment, training and remuneration of the sales force; sales office staff and procedures to be followed; etc. and the after-sales service functions required. |
Advertising
— campaign to be followed;
— media and copy to be used;
— preparation and production of the copy, etc.
Sales promotion
— supplementary activities in support of the sales campaign, e.g. exhibitions, demonstrations, samples, catalogues and leaflets, direct mail, special discounts or pricing at specified periods; conferences, etc.