Marketing is concerned with exchange of goods and services from producers to consumers in such a way that maximises the satisfaction of customers’ needs. 

The various functions of marketing include: 

1. Gathering and Analysing marketing information: One of the important functions of a marker is to gather and analyse market information. This is necessary to identify the needs of the customers and take various decisions for the successful marketing of the product and services. 

2. Marketing planning: Another important area of work of a marketers is to develop appropriate marketing plans so that the marketing.objectives of the organisation can be achieved A complete marketing plan covering aspects like plan for increasing production, promotion of the products etc, and action programmes to achieve these objectives are to be developed. 

3. Product Designing and Development: The design of the product contributes to making the product attractive to the target customers: A good design can improve performance of a product and also give it a competitive advantage in the market. 

4. Standardisation and Grading: Standardisation refers to producing goods of Predetermined specifications, which helps in achieving uniformity and consistency in the output. Standardisation ensures the buyers that goods confirm to the pre-determined standards of quality, price, and packaging. Grading is the process of classification of products into different groups, on the basis of some of the important characteristics such as quality, size, etc., Grading ensures that goods belong to a particular quality and helps in realising higher prices for high quality output. 

5. Packaging and Labeling: Packaging refers to designing and developing the package for the products. Labeling refers to designing and developing the label to be put on the package. Packaging and labeling have become so important in marketing that these are considered as the pillars of marketing. Packaging protects the products and also acts as an effective promotion tool. 

6. Branding: brand name helps in creating product differentiation. It provides basis for distinguishing the product of a firm with that of the competitor. Branding also helps in building customer’s loyalty and promotes sales of a product. 

7. Customer support services: These include after sales services, handing customer complaints, procuring credit services, maintenance services, technical services and consumer information. All these services aim at providing maximum satisfaction to the customers. Which is the key to marketing success in modern days. 

8. Pricing of product: Price of product refers to the amount of money customers have to pay to obtain a product the marketers have to properly analyse the factors determining the price of a product and then take several other decision such as setting the pricing objectives, determining the pricing strategies, determining the price and changing the prices etc. 

9. Promotion: It involves informing the customers about the firms product, its features etc, and persuading them to buy these products. The four important methods of promotion include advertising, personal selling, publicity and sales promotion. Deciding the budget for promotion, promotional tools to be used etc, are important decisions to be taken by a marketer in this area. 

10. Physical Distribution: 

The two major areas under this function include 

1. Decision regarding channels of distribution. 

2. Physical movement of the product from the place of its production to the ultimate consumer’s place. Managing Inventory, storage, and warehousing, transportation, etc, are key areas under this physical distribution function. 

Conclusion: The modern functions of marketing emphasises more on customer satisfaction. Customer satisfaction itself leads to survival and growth of an organisations. From the view point of management function, the above activities are referred to as the functions of marketing.