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Chapter 2 Marketing Basics
ways. One way is to organize around the
customers (also called the market) and the
four Ps: product, price, place, and promo-
tion. Another way is to organize them by the
seven functions of marketing, as shown in
Figure 2-5.
In a small company, all these functions
might be performed by one or two people. In
a large corporation, each function might have
its own department. The seven functions of
marketing are
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Channel Management
The different routes a product takes from
the producers to the customers are called
channels. The channel management func-
tion handles activities involved in getting
products through the different routes from the
producers to the customers. These may include
managing the methods used to transport and
store goods, deciding where products are sold,
finding sources for products, on-time delivery,
and transferring product ownership.
Marketing-Information
Management (MIM)
Marketing-information management
(MIM) involves gathering and analyzing
information about markets, customers,
Figure 2-5 Seven Functions of Marketing
Copyright MBA Research, Columbus, Ohio. Used with permission.