1. Study of consumer needs and wants
The consumer will only purchase goods if it fulfills him/her needs and wants. Therefore Before offering a product, the marketer does research activities in order to try and understand customer needs. So we do market research to know about our consumer’s needs and wants. Goods are produced to satisfy consumer wants and needs. These needs and want motivate consumers to purchase.
2. Study of consumer behavior
Firstly we study what is the reaction of consumers after getting a finished product. How they treat the product. Every consumer is different and unique in nature, therefore consumers have to be studied in a group as well as individually in order to understand their behavior and satisfy them according.
3. Production planning and development
It is an integral part of the marketing function. The marketing department plays a key role in this activity along with the research and development team. In short mainly, here we consider idea generation, concept development, product development, packaging, & branding of a product.
4. Pricing policy
As marketing is an exchange process, money in exchange for products and services. Price is the main factor of any product whether it is low from competitors or high. Pricing policies differ from product to product. There are different pricing policies. Each policy depends on various factors like production cost, competition, product life cycle, etc.
The decision regarding the selection of the most appropriate channel of distribution. Wholesaling, retailing, B2B, and B2C are taken by the marketing manager.
6. After Sales Service:
Marketing covers after-sales service given to customers. Maintaining a good relationship with customers. Solving their problem like warranty, repairing, etc.
Promotion includes personal selling, sales promotion, word of mouth advertising, etc. However to achieve marketing objectives it is necessary to design the right promotion mix.