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Marketing

Question
CBSEENBS12004612

Explain the following functions of marketing:
(i) Gathering and analysing market information;
(ii) Marketing planning; 
(iii) Customer support services and
(iv) Physical distribution

Solution

1) Gathering and Analysing Market information: One of the important functions of a marketer is to gather and analyse market information. It is important to identify the needs and wants of the customers and thus to produce such products which makes the customers satisfied. An analysis of the market for the various opportunities and threats is also very important.
2) Marketing Planning: Another important activity or area of work of a marketer is to develop appropriate marketing plans so that the marketing objectives of the organisation can be achieved. He will have to develop a complete marketing plan covering various important aspects including the plan for increasing the level of production, promotion of the products, etc. and specify the action programmes to achieve these objectives. Planning also includes various strategies to be adopted at critical stages.
3) Customer Support Services: It is a very important function of the marketing management which relates to developing customer support services such as after sales services, handling customer complaints and adjustments, procuring credit services, maintenance services, technical services and consumer information. All these services aim at providing maximum satisfaction to the customers, which is the key to marketing success in modern days. It helps the management to retain the customers and build customer loyalty and thus a long term relation.
4) Physical Distribution: Managing physical distribution is another very important function in the marketing of goods and services. The two major decision areas under this function include
(a) Decision regarding channels of distribution or the marketing intermediaries (like wholesalers, retailers) to be used and
(b) Physical movement of the product from where it is produced to a place where it is required by the customers for their consumption or use.
The important decision areas under physical distribution include managing inventory, storage and warehousing and transportation of goods from one place to the other.

 

Some More Questions From Marketing Chapter

‘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

Jasdeep, a dealer in school uniforms, decided to maximise his profit by using different aggressive promotional efforts.

(i) Identify the Marketing Management philosophy adopted by Jasdeep.

(ii) Explain this philosophy on the basis of

(a) Main Focus

(b) Means and Ends