Functions of Marketing:
(i) Market Planning: This is concerned with the development of appropriate marketing plans to achieve the marketing objectives of an organisation. This includes making a comprehensive action programme covering all the important aspects of the plan.
(ii) Product Designing and Development: Another important marketing activity is related to the product designing and developing in such a way so as to attract the targeted customers. The product design should be such, which improves the performance of a product or gives it a competitive edge over its competitors.
(iii) Pricing: Pricing is the process of fixing the price of a product or service. Prices are generally fixed by manufacturers carefully after looking into three factors, i.e., the cost of production, the demand for the product and the nature of competition.