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7 Functions of Marketing Distribution Deciding where and to whom products need to be sold in order to reach the final user. The logistics of physically moving, storing and tracking goods are part of this. Primary method of transportation is by truck, rail, ship and air Financing Is getting money that is necessary to pay for the operation of a business. Sources of money are bank loans, selling of shares, investors. Financing to customers is also involved. Marketing information management Getting the necessary information to make good sound business decisions. Most of the information is obtained through marketing research. Pricing How much to charge for goods and services in order to maximize profits. Most pricing decisions are based on competitive pricing and determining how much customers are willing to pay. Another factor is gaining market share. Product/service management Obtaining, developing and improving a product or service in response to market opportunities. Promotion Communication with potential customers to inform, persuade or remind them about a business’ products. Public relations – improving the company’s image – are a part of promotion Selling Provides customers with goods and services that they want. This includes industrial consumers, institutional consumers and individual consumers.