Question

Which of the following are universal functions of marketing? a. storing b. risk-taking c. financing d. transporting e. all of the above f. none of the above

Answer 1

e. all of the above is the correct answer.

Step-by-step explanation:

The functions of marketing are to know the customer's demands and to satisfy customer needs.

Universal functions of marketing are

• Buying

• storing: products are stored in the warehouse until the customers require them.

• Risk-taking: Marketer takes a chance when any new product is launched in the market as there is a chance of both profit and failure.

• selling: promotion of the product is done by advertisements and also by personal sales.

• grading: sorting and grading of the products are done as per their quality.

• transportation: is used to transport the products from the production place to the place for shopping.

• securing market information:Gathering information about customers, competitors, wholesalers that help in making marketing conclusions.

• financing: giving a require cash tp produce, store, sell and transport the products.