Waqt” a watch manufacturing company is a renowned company marketing watches. It performs various activities like, market analysis, product designing or merchandising, packaging, warehousing, branding, pricing, promotion and selling. The company maintains good customer relations through various follow up activities. This helps the company in procuring repeat sales orders. a. Name the concept related to the activities mentioned in the above paragraph. b. Explain any two features of the concept identified in part a.) above.

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Solution

Dear Student,
Here is your answer

(a) The activity involved above is
Marketing Management

Marketing management means management of the marketing functions. It is the process of organising, directing and controlling the activities related to marketing of goods and services to satisfy customers’ needs & achieve organisational goals.

(b)Features of the concept identified above

Marketing planning

Product designing and development

Standardisation and grading

Packaging and labelling

Gathering And Analysing Market Information

Regards.

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