What Are the Five Functions of an Organization? Briefly Explain

question 27

Essay

What are the five functions of an organization? Briefly explain.

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Definitions:

Strategic Marketing Process

A methodical process for designing, carrying out, and reviewing marketing initiatives to fulfill organizational objectives.

Market Segmentation

The process of dividing a broader market into smaller subsets of consumers with similar needs or characteristics for targeted marketing.

Marketing Strategy

A comprehensive plan designed to achieve the marketing objectives of an organization by offering value to customers.

Marketing Tactic

A specific action or strategy employed in marketing efforts to achieve a desired outcome, such as increasing brand awareness or sales.