Goals and Functions of Marketing Lesson Note
Learning objectives: By the end of the lesson, students should be able to:
This SS1 Marketing lesson note covers Goals and Functions of Marketing for First Term, Week 1.
Lesson Note
Learning objectives: By the end of the lesson, students should be able to:
• Clarify different goals of marketing system
• Discuss the functions of marketing .
A. Meaning of Marketing Goals
Marketing goals are the things a business wants to achieve through its marketing activities. They help the business know what it wants to accomplish.
B. Main Goals of Marketing
To satisfy customers’ needs and wants
Marketing helps businesses provide goods and services that customers need and want.
To increase sales
One important goal is to encourage more people to buy the company’s products.
To make profit
Businesses use marketing to attract customers and make enough profit to continue operating.
To create awareness
Marketing informs people about the existence, features and benefits of a product.
To attract new customers
Marketing helps a business find and convince new people to buy its products.
To retain existing customers
Good marketing encourages customers who have bought before to continue buying.
To increase market share
A business may want to increase the percentage of customers it serves compared with its competitors.
To compete effectively
Marketing helps a business compete with other businesses selling similar products.
C. Functions of Marketing
Meaning of Functions of Marketing
Functions of marketing are the various activities carried out to move goods and services from the producer to the final consumer.
D. Major Functions of Marketing
Buying
This involves obtaining goods or materials needed for sale or production.
Selling
This involves persuading customers to buy goods and services.
Transportation
This involves moving goods from where they are produced to where they are needed.
Warehousing/Storage
Goods are kept safely until they are needed by customers.
Financing
Money is provided to carry out marketing activities such as buying, transporting and storing goods.
Advertising
This involves informing and persuading people about goods and services through different media.
Standardisation
This involves producing goods according to set standards of quality, size, weight or other requirements.
Grading
This involves grouping goods according to their quality, size or other characteristics.
Risk-bearing
Marketers may face risks such as theft, fire, damage, spoilage or changes in prices.
Market information
Marketing provides information about customers, competitors, prices and changes in the market.
Example
A company produces bottled water.
Buying: It buys bottles and other materials.
Production: It produces the water.
Storage: It keeps the bottled water in a warehouse.
Transportation: It moves the water to shops.
Advertising: It tells people about the product.
Selling: Shops sell the water to consumers.
Financing: Money is needed to carry out these activities.
Evaluation
OBJECTIVE QUESTIONS
1. Keeping Goods safely until they are needed by customers is
Sale
production
warehousing
financing
2. Providing money to carry out marketing activities is
Financing
Manufacturing
Advertising
grading
3. Advertising involves
Producing
Storing
Standardizing
Informing
4. Producing goods according to set quality, size, weight or other requirements is
Standardization
Advertising
Grading
marketing
5. grouping goods according to their quality, size or other characteristics is
Grading
Standardization
Marketing
Warehousing
6. Marketers may face risks such as theft, fire, damage, spoilage or _______ in prices.
Profit
Good acceptance
Lost
High sale
7. Marketing provides information about customers, competitors, prices and _______
changes in the market
production
storage
D. stock
Theory Questions
1a. What is a marketing goal?
1b. State four goals of marketing.
1c. Mention five functions of marketing.
2a. What is transportation in marketing?
2b. State two reasons why businesses advertise their products.
2c. Explain the difference between standardisation and grading.