a) To the Society i. Marketing is a connecting link between the consumer and the producer. ii. Marketing helps in increasing the living standard of people.
iii. Marketing helps to increase the nation’s income. iv. Marketing process increases employment opportunities.
v. Marketing creates modern cultivators. vi. Marketing removes the imbalances of supply by transferring the surplus to deficit areas, through better transport facilities.
12th Commerce Unit - - . . AM Another classification of marketing functions is given by professors Clark and Clark, which is widely accepted by one and all. Functions of marketing are classified into three types.
. Functions of Exchange . Functions of Physical Supply . Facilitating Functions.
FACILITATING FUNCTIONS FUNCTIONS OF MARKETING FUNCTIONS OF EXCHANGE FUNCTIONS OF PHYSICAL SUPPLY Functions of Exchange: Exchange refers to transfer of goods and services for money’s worth. This process can be divided into: (a) Buying and assembling (b) selling Functions of Physical Supply There are two important functions under this classification: i. Transportation ii. Storage and ware housing.
i. Transportation: Transport means carrying of goods, materials and men from one place to another. It plays an important role in the marketing. It creates place utility by moving goods from the place where they are available in plenty, to places where they are needed.
Various types of transport are used for carrying goods like a. Land transport b. Water transport c. Air transport.
ii. Storage and Warehousing: a. Storage Storage is another function of marketing process and it involves the holding and preservation of goods from the time they are produced to the time they are consumed. Generally, there is a time gap between the production and consumption of goods.
Therefore, there is need for storing so as to make the goods available to the consumers and when they are required. b. Warehousing Warehouses create time utility by storing the goods throughout the year and releasing them as and when they are needed. Several types of warehouses are used for storage of goods.
12th Commerce Unit - - . . AM Facilitating Functions There are the functions which help