Discussion on 9 examples of marketing activities in a business.
Marketing activities Meaning
For in case you are wondering what does marketing activities mean, here is the answer.
Marketing activities refer to the day-to-day actions that the marketing people take in order to market business products to the right customers.
List of 9 Examples of Marketing Activities in a business
- Locating the consumer – businesses must determine the needs of the consumer through research.
- Transport ensures that products are moved from the producer to the consumer. ▪ Storage is needed as goods must be stored in warehouses until wholesalers, retailers or final consumers need the goods.
- When goods are stored they must be insured against fire, theft and damage.
- Transportation and storage make it possible for marketers to get the right goods to the right place at the right time and in the right quantities.
- Grading is the quality categories that appear on some products, e.g. fresh meat is graded by using different colour stamps on the meat.
- Standardisation ensures that all products are the same standard in terms of quantity, quality and packaging, e.g. tinned food.
Grading and standardisation protects the buyer’s interest by making sure that buyers get what they expect.
- Finance is concerned with the raising and using of funds.
All the marketing is based on the financing decisions since costs must be carefully planned and controlled.
- Risk taking – All businesses carry risks. A business can never be sure that its products will sell. There is a possibility that the product might be damaged, stolen or can become outdated which will result in financial losses.
- Buying and selling – Some businesses need to buy raw materials in order to manufacture the final products, while some businesses buy and sell goods and services.