A Purchasing Perspective of the Universal Marketing Functions

Economic exchange is a fundamental and necessary activity within any society. In order for an economic exchange to occur, the universal marketing activities must be performed by participants in the exchange process. Traditionally, our literature has focused attention on the role of the seller. This paper, however, presents a discussion of how buyers fully participate in the exchange process by actively performing the universal marketing functions. In the past, many purchasing professionals have not recognized their involvement in these so-called “marketing” activities and this may have constrained the effectiveness of some purchasing organizations. By understanding what the functions are, by acknowledging that both parties in the exchange process are involved, and by developing skills within these domains, purchasing professionals can improve their effectiveness and efficiency within the market place