Q:

What is the function of marketing in business?

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Quick Answer

Marketing is the process by which a company identifies its marketable services or products and finds the best way to promote them. Marketing may include market research, advertising, distribution and public relations.

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Full Answer

There are five core marketing functions in business. They are corporate marketing, strategic marketing, product management, product marketing and field marketing.

Corporate marketing deals with everything from public relations to investor relations. It can include community programs and involves making a number of different groups aware of the product.

Strategic marketing sets strategy in place for growth and can be used when creating partner programs and other key relationships.

Product management delves into price management, long-term release strategy of the product and research and development. This part of management works on a product life cycle calendar.

Once the product is made, it has to be marketed. Product marketing is what is behind the launch of a product and deals with sales training programs.

Field marketing is perhaps the most important marketing function. It deals with marketing a product or service in the field and reaching as many people as possible.

Marketing requires organization, and these functions may often overlap. In today's world, a lot of marketing is done via social media, which is a fast, easy way to reach a large number of customers at one time.

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