Business owners across the globe recognise that if they want to make money, they need to sell their products or services. Understanding the core functions of marketing can assist you to better focus your efforts and strategies in order to support your business. Not to mention, it’s a whole lot easier to show ROI and relevant KPIs if you know precisely what the marketing department is expected to deliver.
Marketing functions are the foundation for the work which marketing professionals do. Each function consists of a set of responsibilities and tasks for a marketing team to design, organise and execute a successful campaign. There are seven widely accepted marketing functions which contribute to the overall work of marketers. The seven functions include:
- Product management
- Marketing information management
What Are The Different Marketing Tasks?
There are a number of different tasks which fall under the marketing function.
Some of the crucial ones are the following:
One of the most vital tasks of marketing is to plan – as well as research – the market trends. The whole planning exercise is performed by the marketing department/function.
Market planning takes the whole organisation’s view and strategy in order to make sure that the correct market strategy and tactics are utilised for designing and improving the product/service offering for the customers.
Product life cycle design (PLC) and management is a crucial task which is performed by the marketing function. The entire PLC is managed by the marketing function. Product design encompasses product functionalities, customer requirements, research as well as development activities. Branding is also included in this step.