Radhika was a student of business studies of class XII. Her father was a
farmer who grew different varities 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 proect-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 internet to gather customer's views and opinion. she found that there was a huge demand for packaged organic rice. She knew that there were no pre-determined specification 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 on the quality. she felt that these names would help her in product differentiation.
Explain the three function of marketing, with reference to the above paragraph
farmer who grew different varities 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 proect-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 internet to gather customer's views and opinion. she found that there was a huge demand for packaged organic rice. She knew that there were no pre-determined specification 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 on the quality. she felt that these names would help her in product differentiation.
Explain the three function of marketing, with reference to the above paragraph
Functions
of marketing referred in above para are as follows:
(a) Gathering and analyzing market information: Marketing research is
the systematic investigation of the facts relevant to the various aspects of
marketing. Marketing research helps managers to arrive at an appropriate
decision. Market information should be gathered and analyzed, appropriately.
"use the internet to gather customer's views and opinions"
(b) Standardization and Grading: Standardisation refer to determining
the basic measure/standard of the product with regard to shape, size, colour quality, quantity, etc. Grading is the process of classification of the product
into different groups, on the basis of some parameters like quality, quantity,
size, etc.
"no predetermined specification in case of rice because of which it would
be difficult to achieve uniformity in the output."
Or
"classified it into three different varieties namely-Popular, Classic and
Supreme, based on the quality."
(c) Branding: It is the process of stamping a product with some
identifying name or mark or a combination of both.
"To differentiate the product from its competitors, she gave it the name
of Malabari Organic Rice."
Or
"She felt that these names would help her in product differentiation.”
Functions
of marketing referred in above para are as follows:
(a) Gathering and analyzing market information: Marketing research is
the systematic investigation of the facts relevant to the various aspects of
marketing. Marketing research helps managers to arrive at an appropriate
decision. Market information should be gathered and analyzed, appropriately.
"use the internet to gather customer's views and opinions"
(b) Standardization and Grading: Standardisation refer to determining
the basic measure/standard of the product with regard to shape, size, colour quality, quantity, etc. Grading is the process of classification of the product
into different groups, on the basis of some parameters like quality, quantity,
size, etc.
"no predetermined specification in case of rice because of which it would
be difficult to achieve uniformity in the output."
Or
"classified it into three different varieties namely-Popular, Classic and
Supreme, based on the quality."
(c) Branding: It is the process of stamping a product with some
identifying name or mark or a combination of both.
"To differentiate the product from its competitors, she gave it the name
of Malabari Organic Rice."
Or
"She felt that these names would help her in product differentiation.”
