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Question
Explain the following function of marketing:
Grading
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Solution
Grading is the process of classification of products according to similar characteristics and/or quality. Grading is done on the basis of their features like size, shape quality etc. Generally grading is done in case of agricultural products like wheat, rice, potatoes etc.
RELATED QUESTIONS
Ginika, Tanish and Rohit were friends from college days and now they are doing different kinds of business. They regularly meet and discuss their business ideas and exchange notes on customer satisfaction, marketing efforts, product designing, selling techniques, social concerns etc.
In one of such meetings, Ginika drew the attention of Tanish and Rohit towards the exploitation of consumers. She told that most of the sellers were exploiting the consumers in various ways and were not paying attention towards the social, ethical and ecological aspects of marketing, whereas she was not doing so.
Tanish told that they were under pressure to satisfy the consumers, but stated that the consumers would not buy or not buy enough unless they were adequately convinced and motivated for the same.
Rohit stressed that a company cannot achieve its objectives without understanding the needs of the customers. It was the duty of the businessmen to keep consumer satisfaction in mind because business is run by the resources made available to them by the society. He further stated that he himself was taking into consideration the needs of the customers.
Identify the various types of thinking that guided Ginika, Tanish and Rohit in the making efforts of their business. Also. state one more feature of the various types of thinking identified that is not given in the above para.
Hayaram' is a famous chain selling a large variety of products in the Indian market. Their products include chips, biscuits, sweets and squashes. It charges a comparatively higher price than its competitors as it sells quality products. Besides, it offers regular discounts to its customers and easy credit terms to its retailers. It has five of its own retail shops. It also sells its products through various grocery stores so that the products are made available to customers at the right place, in the right quantity and at the right time. It regularly uses different communication tools to increase its sales.
The above para describes the combination of variables used by Hayaram to prepare its market offering. Identify and explain the variables
Explain the following function of marketing:
Standardisation
What is marketing? What functions does it perform in the process of exchange of goods and services? Explain.
Distinguish between the product concept and production concept of marketing.
What is marketing concept? How does it help in the effective marketing of goods and services.
State two features of the modern concept of marketing?
Write a word/term/phrase for the following sentence.
The market for the commodities which are produced in one country and sold in another countries.
State whether the following statement is true or false:
The term market is derived from the Latin word ‘Mercatus’.
Explain the following term/concept.
Commodity Concept of Market
The area concept of market is related to exchange concept.
Which one is the example of an Intangible product?
According to the modern marketing concept, which of the following statements is true?
With which element is the exchange mechanism related?
Marketing is called a ____________ process because it involves the interaction of buyers and sellers.
Find the odd one:
