FUNCTIONS OF MARKETING

The features of marketing management are:-
CUSTOMER SATISFACTION
The focus of marketing management is to satisfy the customer. It is by satisfying that a business earns profit.
INTEGRATED FUNCTION
Marketing management integrates the other functional areas of business such as production,finance and personnel to achieve the objective of the organisation.
SPECIALISED FUNCTION
Marketing management is an operative function that requires special knowledge and skills about markets,consumer behaviour and competition.
SOCIAL FUNCTION
Marketing management has a significant impact on society. It influences the consumption pattern,life styles and living standards of public.
UNIVERSAL FUNCTION
It is necessary in all types of business organisation,manufacturing trading and service enterprises.
MARKETS CLASSIFICATION.
A market consists of all the potential customers sharing a particular need or want who might be willing and able to engage to satisfy that need of want. Thus the size of the market depends on the Nymet of persons who exhibit the need,have resources and are willing and able to engage to softy that need or want.
Originally the term market means the place where buyers and sellers gathered to exchange their goods such as village Square. Economists use the term market to refer to a Collection of buyers and sellers who transact over a particular product or a product class hence the housing market the grain market and so on.
Marketers howevet see the sellers as