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Question : 43
Total: 45
'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 vicnity, 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.
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 vicnity, 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:
(i) Packaging and labelling:
1. Packaging refers to designing and developing a package for a product.
2. It protects the products from damage, risks of spoilage, breakage and leakage. It also makes buying convenient for customers and serves as a promotional tool.
3. Labelling refers to designing a label to be put on the package. It may vary from a simple tag to complex graphics. For e.g. colgate, lays etc.
(ii) Promotion:
1. Promotion of products and services involves informing the customers about the firm's product, its features, etc and persuading them to buy the products.
2. Methods of promotion are Advertising, Personal Selling, Publicity and Sales Promotion.
(iii) Pricing of Product:
1. Price of product refers to the amount of money customers have to pay to obtain a product.
2. It is an important factor in the success/ failure of a product.
3. Demand for a product/ service is related to its price, so price should be fixed after analysing all the factors determining the price of the product.
(iv) Marketing planning:
1. To develop an appropriate marketing plan so that the marketing objectives can be achieved.
2. It should specify the action programs to achieve these objectives.
3. E.g., if a marketer tries to achieve a bigger market share in the country in the next three years, then his marketing plan should include various important aspects like plan for increasing level of production, promotion of products etc.
(i) Packaging and labelling:
1. Packaging refers to designing and developing a package for a product.
2. It protects the products from damage, risks of spoilage, breakage and leakage. It also makes buying convenient for customers and serves as a promotional tool.
3. Labelling refers to designing a label to be put on the package. It may vary from a simple tag to complex graphics. For e.g. colgate, lays etc.
(ii) Promotion:
1. Promotion of products and services involves informing the customers about the firm's product, its features, etc and persuading them to buy the products.
2. Methods of promotion are Advertising, Personal Selling, Publicity and Sales Promotion.
(iii) Pricing of Product:
1. Price of product refers to the amount of money customers have to pay to obtain a product.
2. It is an important factor in the success/ failure of a product.
3. Demand for a product/ service is related to its price, so price should be fixed after analysing all the factors determining the price of the product.
(iv) Marketing planning:
1. To develop an appropriate marketing plan so that the marketing objectives can be achieved.
2. It should specify the action programs to achieve these objectives.
3. E.g., if a marketer tries to achieve a bigger market share in the country in the next three years, then his marketing plan should include various important aspects like plan for increasing level of production, promotion of products etc.
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