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Question
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.
Solution
Three Marketing Functions:
- Packaging and labelling:
- Packaging refers to designing and developing a package for a product.
- It protects the products against damage, spoilage, breakage, and leaking. It also makes purchasing easier for customers and functions as a marketing tool.
- Designing a label to go on the packaging is referred to as labelling. It might range from a straightforward tag to intricate artwork. Colgate, Lays, etc., as examples.
- Promotion:
- Promotion of products and services involves informing the customers about the firm's product, its features, etc. and persuading them to buy the products.
- Methods of promotion are Advertising, Personal Selling, Publicity and Sales Promotion.
- Pricing of Product:
- Price of product refers to the amount of money customers have to pay to obtain a product.
- It is an important factor in the success/ failure of a product.
- Because the price of a product/service is tied to its demand, the pricing should be set after considering all of the elements that influence the price of the product.
- Marketing planning:
- To develop an appropriate marketing plan so that the marketing objectives can be achieved.
- It should specify the action plans to attain these goals.
- For example, if a marketer wants to increase his country's market share in the following three years, his marketing plan should incorporate numerous vital components such as increased production, product promotion, and so on.
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