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Which of the following functions are involved under marketing management's function?
1. Collection of market information
2. Marketing coordination
3. Marketing controlling
4. All the above
1. Collection of market information
2. Marketing coordination
3. Marketing controlling
4. All the above
- a)Both 1 and 2
- b)Both 2 and 3
- c)Only 3
- d)Only 4
Correct answer is option 'D'. Can you explain this answer?
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Which of the following functions are involved under marketing manageme...
Marketing management is the organisational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organisations and on the management of a firm's marketing resources and activities. Marketing management has the responsibility to perform many functions in the field of marketing such as planning, collecting marketing information, directing, motivating, coordinating and controlling. All these functions aim to achieve the marketing goals.
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Which of the following functions are involved under marketing manageme...
Understanding Marketing Management Functions
Marketing management encompasses a variety of functions essential for the effective planning, execution, and control of marketing activities. The options provided highlight key areas that contribute to the overall success of marketing strategies.
1. Collection of Market Information
- This involves gathering data about consumer behavior, market trends, and competitive analysis.
- Essential for making informed decisions and developing marketing strategies tailored to customer needs.
2. Marketing Coordination
- Refers to the alignment of various marketing activities, ensuring that all efforts work together harmoniously.
- Involves collaboration between different departments such as sales, advertising, and public relations.
3. Marketing Controlling
- This function focuses on measuring the effectiveness of marketing strategies and making necessary adjustments.
- It includes performance analysis and ensuring that marketing objectives are met.
4. All the Above
- Each of the functions mentioned is integral to marketing management.
- They collectively contribute to understanding the market, executing strategies effectively, and ensuring continuous improvement through control mechanisms.
Conclusion
Given that all three functions—collection of market information, marketing coordination, and marketing controlling—are crucial aspects of marketing management, the correct answer is indeed option 'D' (All the above). Each function plays a vital role in creating a cohesive marketing strategy that can adapt to changing market conditions and consumer preferences.
Marketing management encompasses a variety of functions essential for the effective planning, execution, and control of marketing activities. The options provided highlight key areas that contribute to the overall success of marketing strategies.
1. Collection of Market Information
- This involves gathering data about consumer behavior, market trends, and competitive analysis.
- Essential for making informed decisions and developing marketing strategies tailored to customer needs.
2. Marketing Coordination
- Refers to the alignment of various marketing activities, ensuring that all efforts work together harmoniously.
- Involves collaboration between different departments such as sales, advertising, and public relations.
3. Marketing Controlling
- This function focuses on measuring the effectiveness of marketing strategies and making necessary adjustments.
- It includes performance analysis and ensuring that marketing objectives are met.
4. All the Above
- Each of the functions mentioned is integral to marketing management.
- They collectively contribute to understanding the market, executing strategies effectively, and ensuring continuous improvement through control mechanisms.
Conclusion
Given that all three functions—collection of market information, marketing coordination, and marketing controlling—are crucial aspects of marketing management, the correct answer is indeed option 'D' (All the above). Each function plays a vital role in creating a cohesive marketing strategy that can adapt to changing market conditions and consumer preferences.
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Which of the following functions are involved under marketing managements function?1. Collection of market information2. Marketing coordination3. Marketing controlling4. All the abovea)Both 1 and 2b)Both 2 and 3c)Only 3d)Only 4Correct answer is option 'D'. Can you explain this answer?
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