Fill in the Blanks DiM_U1_S2Online version Diploma in Marketing unit 1, session 2, activity 2 by Dimuthu Thammitage 1 financing service storing exchange intermediaries Transporting facilitating utilities form storing buying place Firms must spend money to create time , and ownership as discussed earlier . Several studies have been made to measure marketing costs in relation to overall product costs and costs and most estimates have ranged between 40 - 60 percent . These costs are not associated with raw materials or any of the other production functions necessary for creating utility . What then does the consumer receive in return for this proportion of marketing cost ? This question is answered by understanding the functions performed by marketing . Marketing is responsible for the performance of 8 universal functions : , selling , transporting , , standardizing and grading , , risk taking and securing marketing information . Some functions are performed by manufacturers , others by marketing like wholesalers and retailers . Buying and selling , the first two functions represent functions . and are physical distribution functions . The final four marketing functions ? standardizing and grading , financing , risk taking and securing market information ? are often called functions because they assist the marketer in performing the exchange and physical distribution functions .
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