The "universal functions of marketing":

Question

Quizplus · Accepted Answer

The universal functions of marketing are performed differently and by different parties in different economies. They include buying, selling, transporting, storing, standardizing and grading, financing, risk taking, and market information. While some of these functions may be automated in advanced macro-marketing systems, they still need to be performed by different parties in the economy. Consumers also perform some marketing functions, such as buying and providing market information through feedback and reviews. These universal functions can create separations and discrepancies between producers and consumers, but they are necessary for the efficient functioning of markets.

The "Universal Functions of Marketing