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• Branding enables a firm to charge different price for its products than that charged by its competitors.
• Ease in introduction of new product.
2. List the characteristics of a good brand name?
• The brand name should be short, easy to pronounce, spell, recognise and remember.
• A brand name should be distinctive.
• Must be good packing and labelling.
3. What is the societal concept of marketing?
The societal concept of marketing is not pays attention towards customer benefit and their interest they also pay attention to the social, ethical and ecological aspects of marketing.
4. List the characteristics of convenience products?
Convenience products are purchased frequently, immediately with least time and efforts and it is regular and continuous in demand. Example: Ice- cream, medicines, stationary items.
5. Enlist the advantages of packaging of a consumer products?
• Rising standards of health and sanitation.
• Innovational opportunity e.g., new types of packaging availability have made it easier to market the product.
• Product Differentiation Packaging is one of the very important means creating product differentiation.
6. What are the limitations of a advertising as a promotional tool? Enlist.
Following are the limitations of advertising:
7. List five shopping products purchased by you or your family during the last few months.
Short Answer Type Questions
1. What is marketing? What functions does it play with process of exchange of goods and services? Explain.
Marketing has been referred to as performance of business activities that direct the flow of goods and services from producers to consumers which involves many activities.
The functions does it play with process of exchange of goods and services:
• Gathering and analysing market information: collecting and analysing market information helps to take a decision for the successful marketing of the products and services and needs of customers and know market trends.
• Marketing planning: Another important activity or area of work of a marketer is to develop appropriate marketing plans, so that the marketing objective of the organisation can be achieved.
• Product Designing and Development: Designing of a product makes it attractive so, customer can easily attract. A good design can improve performance of a product and give it a competitive advantage in the market.
• Standardisation and Grading: Standardisation refers to producing goods of predetermined specification which helps in achieving uniformity and consistency in the output which reduces the need for inspection, testing and evaluation of the products.
Grading is the process of classification of products into different groups, on the basis of its features such as quality, size etc. It ensures that goods belong to a particular quality helps in realising higher prices for high quality output.
• Packaging and Labelling: Packaging refers to designing the package for the products. Labelling refers to designing the label to be put on the package. Packaging provides protection to the product and also helps in its promotion. Labelling helps in self -service. Through labelling we know the content of the product, price.
• Branding: Brand names help in creating product differentiations i.e., how the product can be distinguished from its competitors.
• Customer Support Service: Marketing management relates to developing customer support service such as after sales services, handling customer complaints. All these aim at provides customer satisfaction which is a key to marketing success.
• Pricing of Product: Price is an important factor affecting the success or failure of a product in the market. The marketers have to analyse properly the factors determining the price of a product.
• Promotion: Promotion of products and services involves informing the customers about the firm’s product, its features etc and persuading them to purchase these products. It includes four method advertising, sales promotion, personal selling and publicity
• Physical Distribution: The important decisions areas under physical distribution include managing inventory, storage, warehousing and transportation of goods from one place to the other.
• Transportation: Transportation involves physical movement of goods from one place to another. A marketer has to perform this function very efficiently keeping in mind the nature of product, cost, location of target market etc.
• Storage or Warehousing: In order to maintain smooth flow of products in the market, there is a need for proper storage of the products. Further, there is a need for storage of adequate stock of goods to protect against unavoidable delays in delivery or to meet ‘out contingencies in the demand. Wholesalers and retailers are playing an important role.
2. Distinguish between the product concept and production concept of marketing.
Quality Performance, Lectures of product
Availability and Affordability of Product
Profit through volume of product
Profit through product quality
3. Product is a bundle of utilities? Do you agree? Comment.
Yes, I agree anything that can be of value to the buyer can be termed as a product, satisfied consumer needs.
4. What are industrial products? How are they different from consumer products? Explain.
Industrial products are those products, which are used as inputs in producing other products.
Example of industrial products is raw materials, engines, lubricants, etc. it is used for non- personal and business uses. The market for industrial product consists of manufacturers, transport agencies, banks etc.
Whereas Example of consumer products is soap, edible oils, eatables. It is used it is used for personal and non- business.
5. Distinguish between convenience product and shopping product.
These products are purchased at convenient locations, with least effort and time.
The shopping products are generally of durable nature.
These products have small unit of purchased and low price.
High price, customer pre- planned before making purchased.
6. ‘ Product is a mixture of tangible and intangible attributes’. Discuss
When we think about a product, it refers only to the tangible attributes of a product example we say have bought a bike. But while we take a buying decision we along with tangible attributes also consider the intangible attributes of a product example brand name, image of the company, guarantee, warranty, packing. So, product is a mixture of tangible and intangible attributes which are capable of being exchanged for a consideration and satisfy the customer needs.
7. Describe the functions of labelling in the marketing of products.
The functions of labelling in the marketing of product:
• Describe the product and specify its contents.
• Identification of the product or brand.
• Grading of product.
• Help in promotion of products.
• Providing information required by law.
8. Discuss the role of intermediaries in the distribution of consumer non-durable products.
The term channels of distribution refers the facilitate to the movement of goods and services and their title between the point of production and point of consumption, by performing a variety of marketing activities. Following are the functions performed by the channels of distribution
• Accumulation: It aims at holding the stock to match between the consumer demand and supply condition, warehousing helps in maintaining continuous flow of goods and services.
• Promotion: The marketing channels also help in promoting the demand for the product by displaying demonstrating and participating in various promotional activities organised by the producers.
• Negotiating: The marketing channels are the intermediaries between the producers and the consumers. They attempt to reach final agreement on price and other terms of the offer, so that transfer of ownership is properly affected.
• Risk Taking: Risk taking is the basic responsibility of the intermediaries. It may arise out of physical deteriorations, changes in price levels, natural calamities, change in fashion etc. These are unavoidable as they hold sufficiently large and variety of inventories till the sale of stock.
• Grading/Sorting: Grading is the process whereby they sort the products on the basis of different sizes, qualities, moisture contents and so on. It helps us realising the time value for the product and at the same time ultimate consumer feels satisfied with the uniform quality of the product.
• Packaging: The products are packed in the small tradable lots for the convenience of the consumer.
• Assembling/Assortment: Marketing channels aim at satisfying the needs of the customers. The products desired by the consumer may not be available in the market. They procure such goods from different sources, assemble or assort them as per the requirements of the consumers.
9. Explain the factors determining choice of channels of distribution.
The choice of channels depend on various factors, which are discussed as follows
• Consideration related to product: When the manufacturer selects some channel of distribution he/she should take care of following factors like unit value of the product, standardised or customised product, perishability, technical nature.
• Consideration related to market: the important market characteristics affecting the choice of channel distribution like number of buyers, types of buyers, their buying habit, buying quantity and size of market also depend.
• Consideration related to the company: The important company characteristics affecting the choice of channel distribution include goodwill, financial strength and desire to control the channel of distribution.
• Consideration related to government also affect the selection of channel because only licence holder can carry.
10. Explain briefly the components of physical distribution.
There are mainly four components of physical distribution
• Transportation: transportation is that activity through which products are moved from one place to another. By making the products reach a desirable place can increase the importance and value of those products. while choosing the means of transportation, the following elements kept in mind: cost, speed, dependability, frequency, power, safety.
• Inventory: Inventory Control Inventories ensure the availability of the product as and when consumer demand arises. There are various factors which influence a firm decision regarding the level of inventory e.g., degree of accuracy of sales forecast, cost of blocking of the working capital etc.
• Ware housing: under ware housing activity the following decision regarding the inventory of material are taken:
• Which is better option? (to own or to rent a warehouse)
• Which is the right location for a warehouse? (nearer the factory or nearer the market)
• Which decision is more appropriate?
Warehousing requires investment, so after analysing its advantages and usefulness desirable decision should be taken .
11. Define advertising. What are its main features? Explain.
Advertising means providing adequate knowledge about some special product/ service/ idea to potential consumers so that they are stimulated to buy it.
• Paid form: only that attempt of the seller on which he/ she has spent some money to communicate information to the consumer is called advertising. It means any information about a product communicated free of cost cannot be termed as advertising it may be called propaganda or publicity.
• Impersonal presentation: advertising is non- personal presentation of information. It means the advertiser and the consumer do not come into personal contact.
• Speedy and mass communication: advertising is a speedy medium of communication in other words, it reaches millions of people simultaneously.
• Identified sponsor: sponsor name should be identified when the sponsor name not be identified it will be called publicity, not advertisement.
12. Discuss the role of ‘sales promotion’ as an element of promotion mix?
Sales promotion includes those marketing activities other than personal selling, advertising and publicity that stimulate consumer purchasing and dealer effectiveness, such as display, shows and exhibitions, demonstrations and various non-current selling efforts not in the ordinary routine, The main objectives of sales promotion activities are