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Explain the Following Functions of Marketing: Standardization and Grading - Business Studies

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Explain the following functions of marketing:
Standardization and Grading

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Standardisation The term ‘standardisation’ is derived from the word ‘standard’, which means the presence of certain desirable qualities like durability, safety, purity and other features like design, weight, colour; etc in a product. Standardisation refers to the process of setting certain standards for a commodity on the basis of its desired qualities. It implies that the different units of the commodity are of a specified and uniform quality. It facilitates a sale of goods through description and increases the confidence of consumers.

Grading It refers to the process of dividing products into classes made up of units possessing similar characteristics. It involves division of products into classes, lots or groups in accordance with predetermined grades of quality. Grading helps in fixing and securing remunerative prices for the products.

Concept: Marketing Functions
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