Marketing is more than just selling. It is a complex activity that reaches into many aspects of an organization and its dealings with consumers.
Marketing involves eight functions: buying, selling, transporting, storing, standardization and grading, financing, risk taking, and market information.
All of these functions are performed by manufacturers, some by wholesalers, and others by retailers.
Exchange Functions Buying and selling are the exchange functions of marketing.
Buying is important to marketing on several levels. Marketers must study how and why consumers buy certain goods and services.
The study of consumer or buyer behavior is critical to the firm's overall success.
For example, industrial marketers must purchase component parts and raw materials to complete their products, and retail buyers have to choose the styles and desigins they believe will sell the next season.
Marketers must be knowledgeable about what consumers are buying in order to make their own purchase decisions.
All organizations must "sell" their goods or services to someone if they are to succeed. Selling is usually done through the organization's promotional strategy.
Advertising, personal selling, and sales promotion are the standard sales tools.