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Question
‘Silkiya Ltd.’ is a company manufacturing silk cloth. It has been consistently earning good profits for many years. This year too, it has been able to generate enough profits. There is the availability of enough cash in the company and good prospects for growth in future. It is a well-managed organisation and believes in quality, equal employment opportunities and good remuneration practices. It has many shareholders who prefer to receive a regular income from their investments. It has taken a loan of < 60 lakhs from SBI Bank and is bound by certain restrictions on the payment of dividend according to the terms of the loan agreement.
The above discussion about the company leads to various factors which decide how much profit should be retained and how much has to be distributed by the company. Quoting the lines from the above discussion, identify and explain any four such factors
Solution
Functions of marketing with reference to the paragraph:
1) Gathering and Analysing Market Information: To know the needs of customers, marketers collect market information. This gives an idea to the business about the threats and business opportunities.
Quotation: Use the Internet to gather customers' views and opinions
2) Standardisation and Grading: Standardisation refers to the production of a product according to some standards or specific details. Grading is the classification of goods into various groups on the basis of size and quality.
Quotation: She knew that there were no pre-determined specifications in case of wheat because of which it would be difficult to achieve uniformity in the output.
3) Branding: Branding refers to deciding a suitable name for the product. The name can be either a generic name or a brand name. The brand name acts as a basis of differentiation of the firm’s product with that of its competitors.
Quotation: To differentiate the product from its competitors, she gave it the name of 'Mahan-Organic-Wheat'.
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