Explain the following functions of marketing
(i) Gathering and analysing market information.
(ii) Customer support services.
(i) Gathering and analysing market
information To gather market
information, the marketer makes a SWOT analysis, Le., the analysis of strengths and weaknesses of the organisation and the available opportunities and threats. Collection of market information is necessary to identify the views and opinions and needs of customers before taking decisions regarding what opportunity can be best pursued by the firm.
(ii) Customer support services An important function of marketing relates with developing customer support services such as after sales services, handling customer complaints, etc.
All these services aim at providing maximum satisfaction to the customers, which, in turn, helps in procuring repetitive sales from the customers and develop brand loyalty for the product.