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Marketing
'Though branding adds to the cost, it provides several advantages to the consumers'. In the light of the statement, state any three advantages of branding to customers.
Brand Name is a part of a brand consisting of words, letters and group of words or letters comprising a name which is intended to identify the goods or services of a seller or a group of sellers and to differentiate them from those of competitors. Example, Promise tooth paste, Safola, Maggie, Lifebuoy, Dunlop, and Rexona are the brand names.
Advantages of branding to customers:
(i) Helps in Product Identification: Branding helps the customers to identify the product easily. Customers not always make a close watch of the features of product. If they get satisfaction from a single consumption, the brand gets identified and will get purchased repeatedly. The brand name, brand mark, etc helps the customer to identify the product easily.
(ii) Ensures Quality: If a product is a branded one the customers usually have an expectation of quality from the product. If the product didn’t satisfy their expectation they can easily approach the manufacturer and complain. Such facility builds confidence of consumers.
(iii) Status Symbol: Some brands become status symbols because of their quality. The consumers of those brands of products feel proud of using them and add to the level of satisfaction of the customers.
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Define Marketing. Explain its features.
‘Bending the customer according to the Product’ and ‘Developing the product according to customer-needs’ are the two important concepts of marketing management. Identify the concepts and differentiate between the two.
Explain ‘Market Planning’ and ‘Product Designing and Development’ as functions of marketing.
What is meant by the 'Product Concept’of marketing?
What is meant by the ‘Societal Concept’ of marketing?
What is meant by ‘Production Concept’ of marketing?
What is meant by ‘Selling Concept’ of marketing?
Distinguish between the product concept and production concept of marketing.
Or
Distinguish between the concepts ‘product’ and ‘production’ in Marketing keeping following as the base: (i) Focus (ii) Means (iii) Ends.
Mansi, a shoe manufacturer for school students, decided to maximise her profit by producing and distributing at large scale and thereby reducing the average cost of production.
(i) Identify the Marketing Management philosophy adopted by Mansi.
(ii) Explain this philosophy on the basis of
(a) Main Focus
(b) Means and Ends
Nisha a school bag manufacturer decided to improve the product for profit maximisation and thus added a water bottle holder to the existing design.
(i) Identify the Marketing Management philosophy adopted by Nisha and
(ii) Explain this philosophy on the basis of
(a) Main Focus
(b) Means and Ends
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