Advertisements
Advertisements
Question
Explain the following function of marketing:
Marketing planning
Solution
Creating a market plan to achieve the marketing goals and objectives of the organisation. Market research is conducted to analyse the preferences of the customers to formulate a suitable plan. This function involves several important tasks:
- Setting Objectives: Setting precise and measurable objectives is the first step in marketing strategy. Goals may include expanding market share, launching new products, entering new markets, or boosting brand awareness and reputation.
- Market Research: Market research includes systematic data collection, analysis, and interpretation. It offers insights into market dynamics, customer behavior, and other aspects affecting company decisions.
APPEARS IN
RELATED QUESTIONS
Name the marketing function which is concerned with informing the customers about the firm's products.
Name the function of marketing which is concerned with the cost and location of target market.
Name the marketing function which is concerned with the important decision of managing inventory
Radhika was a student of Business Studies of Class XII. Her father was a farmer who grew different varieties of rice and was well-versed about various aspects of rice cultivation. He was also selected by the government for a pilot-project on rice cultivation. As a project work in Business Studies, she decided to study the feasibility of marketing good quality rice at a reasonable price. Her father suggested her to use the Internet to gather customers' views and opinions. She found that there was a huge demand for packaged organic rice. She knew that there were no pre-determined specifications in case of rice because of which it would be difficult to achieve uniformity in the output. To differentiate the product from its competitors, she gave it the name of 'Malabari Organic Rice' and classified it into three different varieties namely — Popular, Classic and Supreme, based on the quality. She felt that these names would help her in product differentiation.
Explain the three functions of marketing, with reference to the above paragraph.
Explain the following function of marketing:
Customer support services
Explain the following function of marketing:
Product designing and development
Which of the following is the function of marketing?
____________ is the marketing function which is concerned with informing the customers about the firm’s products.
Which of the following are the different functions performed by the intermediaries in case of nondurables.
Which of the following functions of marketing helps in building customer's loyalty and in promoting its sale?
Samay wanted to purchase a car with the latest standards and possessing features to minimize pollution. He saw an advertisement and subsequently visited the showroom of the company where the car was displayed. In his discussion, the marketing manager told Samay that the company is providing credit facilities, maintenance services and many other useful services on account of which the company is experiencing repeat sales and has been able to develop brand loyalty. Thus, ______ marketing function is being discussed between the marketing manager and Samay.
Which of the following marketing functions is concerned with informing the customers about the firm's products?
Marketing is a ______ process by which people interact with others in order to persuade them to act in a particular way, say to purchase a product or service rather than forcing them to do so.
Choco Ltd. offers a wide variety of chocolate products. It has an action program of not selling its products by their generic name but under different names like Choco-silk bar, Choco-Munchy and Choco-crunchy etc. for different customer segments. All these names have great popularity and acceptability in the markets.
As the company policy the products were offered at reasonable and affordable prices for targeting a mass customer base.
During the festive season the company launched a massive promotional campaign to increase its revenue and achieve its communication objectives. The company introduced free gifts for the customers.
Their on-ground sales team delivers the product not only to the departmental stores but also to small shops, so that all segments of customers can easily get the products. They also provide information and support services to customers to ensure repeat sales.
From the viewpoint of the management function, briefly explain any four activities of marketing which the firm will be involved in, apart from the above-mentioned ones it's already performing.
Maharana’ is a famous take-away food outlet in Meerut. It is quite popular among local people and travellers on the national highway. It offers a wide variety of ‘paranthas’ and “sandwiches’ packed in special containers which are designed and developed by them to keep the food hot and fresh.
Considering the taught competition in the nearby area, the prices have been set reasonably low.
The owner Normal Singh spends huge sums of money to put large hoardings and kiosks in the vicinity, to inform the people about the outlet's location and the special items on its menu.
The firm is performing various marketing functions to achieve its marketing objectives.
On the basis of the information given in the above case identify and explain any three ‘marketing functions.
Paddy is grown during summer season but its demand and sale takes place throughout the year.
- Name and state the function of marketing which should be undertaken to reduce the gap between production and consumption of Paddy.
- State by giving two reasons as to why proper discharge of this function is important.
As a function of marketing, Warehousing creates time utility.
