Explain any three functions of marketing.
Explain any three functions of marketing.
Functions of marketing are :
(i) Market research: One of the most significant functions of marketing is market research, that investigates consumer behaviour, their likes and dislikes and their expectations regarding prices, features, etc., of a particular product/service.
(ii) Standardisation and grading: Marketing involves standardisation process that includes setting up standards to manufacture products with a constant physical characteristic that gives uniformity to a group of products. Correspondingly, grading is a part of standardisation wherein products are sorted out in terms of quality and sizes.
(iii) Packing and labeling: Packaging is an effective process of enclosing or protecting products for distribution, storage sale, and use, while labelling complements packaging by communicating the contents of a particular package through the brand name, product feature, usage, etc.
Functions of marketing are :
(i) Market research: One of the most significant functions of marketing is market research, that investigates consumer behaviour, their likes and dislikes and their expectations regarding prices, features, etc., of a particular product/service.
(ii) Standardisation and grading: Marketing involves standardisation process that includes setting up standards to manufacture products with a constant physical characteristic that gives uniformity to a group of products. Correspondingly, grading is a part of standardisation wherein products are sorted out in terms of quality and sizes.
(iii) Packing and labeling: Packaging is an effective process of enclosing or protecting products for distribution, storage sale, and use, while labelling complements packaging by communicating the contents of a particular package through the brand name, product feature, usage, etc.
