Explain the following functions of marketing `(i)` Market planning. `(ii)` Product designing and development.

Explain the following functions of marketing `(i)` Market planning. `(

1.	Explain the following functions of marketing `(i)` Market planning. `(ii)` Product designing and development.
Answer» `(i)` Marketing planning Marketing develops appropriate marketing plans, so that the marketing objectives of the organisation can be achieved. E.g. A marketer of LED TVs, having `10%` of the current market share, aims at enhancing his market share to `20%` in the next two years. For this, they will have to develop a complete marketing plan covering various important aspects including the plan for increasing the level of production , promotion of products , etc. `(ii)` Products designing and development Marketing activity also relates with designing and developing the product in such a way that it attracts the target customers. A good design can improve performance of a product and also give it a competitive advantage in the market. e.g. if we plan to buy a car, we will not only consider its features like price, mileage, etc, but its design, shape, style also.