Q.Explain any four facilitating functions of marketing.
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →Marketing functions are broadly of two types — functions of exchange and physical supply, and facilitating functions. Facilitating functions do not directly create possession or movement but make the whole marketing process smooth and effective. Four important ones are financing, risk-bearing, gathering market information and standardisation & grading.
Four Facilitating Functions of Marketing
-
Financing — Marketing activities such as buying stock, holding goods, granting credit to customers and running promotions need funds. Arranging adequate finance from banks, financial institutions or trade credit is a facilitating function that keeps the flow of goods moving without interruption.
-
Risk-bearing — In marketing, goods face risks such as fall in prices, changes in fashion, fire, theft, spoilage and bad debts. Bearing and managing these risks — partly through insurance and careful planning — is an essential facilitating function that protects the business.
-
Market Information (Gathering and analysing information) — Sound marketing decisions require reliable information about customer needs, tastes, competition, prices and market trends. Collecting, analysing and using such information helps a firm plan its products and strategies correctly, so it facilitates effective marketing.
…
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.