The wheels of evolution have had remarkable impacts in improving the nature and characteristics of markets per se, since the days of the barter system. The complexities of the structure and nature of marketing functions and clearing have thus, increased to phenomenal extents. As a result, students of economics in this century are usually seen to face confusion as far as handling assignments for the same is concerned and are often in need of Market functioning and Clearing details homework help.
A Brief Introduction to Marketing Function Â
Marketing function in very simple terms refers to the role played by a certain company in identifying and introducing potentially promising products in a certain marketplace following it up with adequate promotional efforts in order to differentiate the same from other competing products. This is one of the pivotal processes of the â€˜Marketingâ€™ superstructure per se, enlightenment on which can help companies survive, rather thrive through raging competition as well as economic and market-based uncertainties.
There are different types of marketing functions as have been identified by researchers and academicians in this field. Research function, buying function, production and promotion function, product development and management, pricing and distribution function, standardization, and grading functions, etc. are only a few to name in this respect. Each of these functions is critical for ensuring better future for product success as well as that of the company in the short and long run.
Understanding Core Marketing Functions
Among the long list of marketing functions as has been identified to date, 5 have been named as the core functions that practically form the spine of any business processes. On these students often need Market functioning and Clearing details homework help and professional assignment writers can help in this sphere in an amazing way.
- Corporate marketing â€“
As the name specifies, corporate marketing involves a more global reach with factors like advertising, corporate communications, event strategies, PR, investor relations, etc. forming its core concerns.
- Product marketing â€“
Operating on product life cycle calendar, product marketing has got everything to do with planning the launch of products and services in the market while determining successful positioning of the same.
- Strategic marketing â€“
Strategic marketing revolves around calculating possibilities of products and services in the ever-competitive landscape while designing strategies for growth for the long and short run. Integral aspects like make v/s buy analysis, performing due diligence for mergers and acquisitions, etc., are all included in strategic marketing.
- Field marketing â€“
This is basically the arm of execution of the target processes like marketing campaigns and programs with the sole purpose of generating leads and opportunities through the pipeline.
- Product management â€“
This herculean structure starts with product innovation to materialization while determining initial positioning, messaging, pricing and everything else that is directly linked to understanding and building the future of the product. This core marketing function works very closely with sales, marketing, product development, research and development, operations and engineering to monitor pre and post launch outcomes.
Factors that Affect Marketing Functions â€“
Whether core or associated, marketing functions at large can be subject to a number of factors that can determine and affect its moods significantly. Some of these factors can be mentioned as follows. Often students are made to write papers on these topics and grappling with such tasks makes professional Market functioning and Clearing details homework help, crucial.
- Economy â€“
This is one of the primary determinants of marketing functions. In very simple words, not all businesses can thrive in best of economies while certain otherwise unattractive ventures can crack the codes of success in the worst performing markets. Strategic marketing and product management can help companies rule out the odds in their favor.
- Environment â€“
Both internal and external environments of the company can affect Marketing functions phenomenally. Internal environment basically includes finance and accounting, top management, R&D, manufacturing, purchasing, brand equity, resources, etc. External environment, on the other hand, has everything to do with consumers (both domestic and international), competitors, sellers/resellers, government, etc.
- Technology â€“
Technology and social has a massive role to play in marketing functions. In fact, this is one of those factors that have shown very rapid changes in as little as over the course of a decade. This is basically in terms of technological interfaces that are very intricately linked with consumer behavior. Marketing functions thus need to revolve around technology in order to stay in tune with progress and success.
Each of these factors and functions is individual topics for study in the part of students of economics and marketing.Â When students are stuck with concepts or any task, high-quality Market functioning and Clearing details homework help can prove to be of great aid.
Understanding Market Clearing
Clearing is yet another subject that has phenomenal significance in economics and marketing. By definition, the market clearing condition in economics is where the demand for a certain product equals the supply for the same, and clearing price refers to the price of the product that helps is building this equation. This is basically a very harmonious condition in the market that balances the interest of the buyers/consumers with the interests of the manufacturing/selling entities for a productive and growth based future.
With market clearing condition, there is no surplus or shortage in the market which also implies that neither the buyers nor the sellers feel the need for price alterations. This also goes a very long way in efficient allocation of resources which plays a role in enhancing sustainable productivity in the part of the involved manufacturing/selling parties. Market clearing price is also known as equilibrium price which is determined by the intersection of the demand and supply curve.
The word â€˜clearingâ€™ in economics, however, has different meanings with respect to the field in which it is applied. â€˜Clearingâ€™ in the world of stock and investments can be mentioned in this respect.
Factors that Can Affect Clearing Equilibrium Price
There was a time almost a century and a half ago when market clearing mechanism was considered inevitable by some of the leading economists of the days. However, the Great Depression of 1930 changed existing perceptions significantly to establish pivotal factors that can affect clearing price per se.
For example, demand can often get affected by variables like changes in income, changes in tastes and preferences, introduction of substitutes in the market, etc.
Similarly, supply can be affected by variables like changes in governmental policies that affect production; changes in natural conditions like weather, etc., changes in technology and associated causes.
How Professional Homework Assistance can help with these Topics
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