1. Dhamal Limited has chalked out an action plan in order to increase its market share in the international
market by 30% in the next one year. The action plan contains the details about how the production
levels will be increased, sales promotion activities will be carried out and so on. Identify the type of
marketing function being described in the given lines.
(a) Gathering and analysing market information
(6) Marketing planning
(c) Product designing and development
(d) Packaging and labelling
Answers
Answer:
Marketing is related to the exchange of goods and services. Through its medium the goods and services are brought to the place of consumption. This satisfies the needs of the customers. The following activities are undertaken in respect of the exchange of goods and services:
1. Gathering and Analysing Market Information:
Gathering and analyzing market information is an important function of marketing. Under it, an effort is made to understand the consumer thoroughly in the following ways:
(a) What do the consumers want?
(b) In what quantity?
(c) At what price?
ADVERTISEMENTS:
(d) When do they want (it)?
(e) What kind of advertisement do they like?
(f) Where do they want (it)?
What kind of distribution system do they like? All the relevant information about the consumer is collected and analysed. On the basis of this analysis an effort is made to find out as to which product has the best opportunities in the market.
Explanation:
2. Marketing Planning:
In order to achieve the objectives of an organisation with regard to its marketing, the marketeer chalks out his marketing plan. For example, a company has a 25% market share of a particular product.
The company wants to raise it to 40%. In order to achieve this objective the marketer has to prepare a plan in respect of the level of production and promotion efforts. It will also be decided as to who will do what, when and how. To do this is known as marketing planning.
3. Product Designing and Development:
Product designing plays an important role in product selling. The company whose product is better and attractively designed sells more than the product of a company whose design happens to be weak and unattractive.
In this way, it can be said that the possession of a special design affords a company to a competitive advantage. It is important to remember that it is not sufficient to prepare a design in respect of a product, but it is more important to develop it continuously.
packaging and labeling
Packaging aims at avoiding breakage, damage, destruction, etc., of the goods during transit and storage. Packaging facilitates handling, lifting, conveying of the goods. Many a time, customers demand goods in different quantities. It necessitates special packaging. Packing material includes bottles, canister, plastic bags, tin or wooden boxes, jute bags etc.
Label is a slip which is found on the product itself or on the package providing all the information regarding the product and its producer. This can either be in the form of a cover or a seal.
For example, the name of the medicine on its bottle along with the manufacturer’s name, the formula used for making the medicine, date of manufacturing, expiry date, batch no., price etc., are printed on the slip thereby giving all the information regarding the medicine to the consumer. The slip carrying all these is details called Label and the process of preparing it as Labelling.