FUNCTIONS OF MARKETING ...contd.

Functions of exchange: selling(Demand creation)and assembling(buying)
Functions of physical supply; Transportation and storage and warehousing.
Facilitating functions
Market information/Standardization(collection and interpretstion)Risk taking/and financing.

Generally this classification has been widely accepted. As most of the essential functions are included in it is capable of giving an overall picture of the whole area of marketing.
1 EXCHANGE FUNCTIONS.
Goods are produced for satisfying human wants. This is achieved only when goods finally reach the hands of the consumers. The process of paying goods into the consumers hands is called functions of exchange.
a)Buying and assemling
Buying is first in the process of marketing. A manufacturer is required to buy raw materials for production purposes it is known as concentration. Similarly a wholesaler has to buy goods to sell them to a retailer.
Assembling process stays after the goods have been purchased. It is a function of mobilising goods. Buying involves transfer of ownership of the goods, whereas assembling involves creating and maintaining of stock of goods purchased from different sources.
Generally goods are not purchased from one seller only. When they are purchased from different sellers they have to be collected and assembled at one place under the control of the buyer. Thus buying and assembling are two distinct processes. .
SELLING......