Q.Explain the important functions performed by a marketer.
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Start your 14-day free trial to unlock the full solution →A marketer's work can be understood as a connected chain of functions that together move a good or service from the point of production to the point where it genuinely satisfies a consumer's need.
The process begins with identifying consumer needs and wants, through market research, surveys, and observation, so that the marketer understands exactly what gap in the market an offering should fill. This is followed by developing the offering, or product/service planning — deciding on features, quality, variety, branding, and packaging so that what is offered genuinely matches the need identified.
Next comes pricing — setting a price that covers costs and a reasonable margin, while remaining acceptable to the target buyers in light of competitors' prices and the value delivered. Promotion follows, informing and persuading potential buyers that the offering exists and explaining why it is worth buying, through advertising, personal selling, and sales promotion schemes.
Distribution involves selecting the right channel — direct sale, wholesalers and retailers, or online platforms — and physically moving the goods through transport and storage so that they reach buyers conveniently. Selling is the function of actually closing the exchange, transferring ownership or the right to use the offering to the buyer against payment. …
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