Marketing function:
The function of approach of the marketing consists of a number of activities called marketing functions. A marketing function is "an act or operation or services by which original product and the final consumer are linked together".
Function of the exchange: the process of passing of the goods into the customer's hands is called the function of exchange. This process can be divided into buying, assembling, and selling.
1. Buying: it is the first step in the process of the marketing. A manufacturer has to buy raw materials for from different sources. Generally, the dealer or middleman purchases the goods from more than one seller. In such a case, the goods have to be collected and assembled at one place.
2. Selling: selling and buying are complement to each other. Marketing efforts evolve around the buying and selling functions. In business the selling function is very important. The primary objective of marketing is to sell the products at a profit. By selling, the ownership is transferred to the buyer. Sales are concerned with the activities, which convert the desire into demand. Creation of the demand is maintenance expansions etc. are the soul of the sales efforts.
3. Assembling: assembling means creation and maintenance of the stock of the goods, purchased from different sources. Generally, the dealer or middleman purchases the goods from more than one seller. In such a case, the goods have to be collected and assembled at one place.