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Name of the product, Name of manufacturer, Date of Manufacture and Expiry, Ingredients, Price of the product, Special qualities of the product, Sales promotion scheme, Batch No., FPO mark, Method of using, Weight and normal value, e.g., crush the bottle after use or keep your city clean, etc.

Market:

It refers to a place where the buyers and sellers meet each other for sale and purchase of the commodity.

A good market offer is one which is developed after analysing the needs and preferences of the potential buyers.

It refers to a place where the buyers and sellers meet each other for sale and purchase of a commodity.

Product, Price, Place and Promotion

Any person who takes more active part in the process of exchange.

Satisfaction of customers as well as of social well-being.

According to the modern view, market refers to the real and the group of potential buyers of products and services.

A customer means people or organisations who want to fulfill their needs.

Orientation of marketing implies that focus on the satisfaction of customer's needs is the key to the success of any organization in the market. All the decisions in the firm are taken from the point of view of the customers, e.g., What product will be produced, with what features and at what price shall it be sold or where shall it be made available for sale will depend on what do the customers want. 

Marketing concept helps in effective marketing of goods and services by using the following.

• Identification of market or customers who are chosen e.g the target of marketing effort. 
• Understanding needs and wants of customers in the target market. 
• Development of products or services for satisfying needs of the target market. 
• Satisfying needs of target market better than the competitors. 
• Doing all this at a profit.

Marketing mix refers to the combination of four basic elements known as four P’s – Product, Price, Promotion and Place.

1. Product Mix: Product mix basically concerns with the features related to a product e.g., range, quality, size, labeling, packaging, branding etc. All products must satisfy consumer needs and expectations. It aims at providing good quality products at fair prices.

2. Price Mix: It includes decisions relating to price determination, discounts and allowances credit terms. It covers pricing objectives and pricing policies. Price should cover not only cost of production and selling expenses but also a reasonable profit margin. The price policy adopted by the enterprise should not only be cost-based but also demand based and competition based.

3. Place Mix: Place mix links the seller and the buyer. The choice of channels of distribution and transport are the two major issues here. There are various factors which help in deciding the channel e.g., the time and the place, where the goods have to reach or transportation. It is the nature of goods, place of destination, cost, and availability, etc.

4. Promotion Mix: It refers to all marketing activities to increase the volume of sales of the product of an enterprise. It consists of a means of marketing communication with a view to informing and persuading the prospective buyers to buy a certain product. It includes advertising, personal selling, publicity, and sales promotion.

A marketer means a person or an organisation who provides goods or services to satisfy the needs of the customers.

Correct option is B) Secondary packaging

Levels of Packaging: There are three levels of packaging as given below:

i. Primary Packaging: It refers to that container which is very close to the product. In some cases, it is kept throughout the entire life of the product, such as shaving cream tube, match box, etc. In other cases, it is kept till the consumer is ready to use the product, such as, plastic cover of Britannia Cake.

ii. Secondary Packaging: It refers to that container which is used for extra care of the product till the product is come into use, such as, card board box of shaving cream tube. When a consumer starts using the cream, he will dispose off the box but retain the primary packaging (e.g., plastic tube).

iii. Transportation Packaging: It refers to that packaging which is necessary to use for transportation, identification and storage. For example, a big card board box which is containing say 100 units of shaving cream tubes.

Sales promotion is an important component of promotion utilized along with advertisement and personal selling.

Sales promotions are short-term incentives that encourage the customer to buy the product or service. Sales promotions have quick effect on customers.

Characteristics of a good salesman:

1. Salesman should be smart, interactive and physically fit.
2. Salesman should be good in communication, intelligent and efficient.

Correct option is 

1 a) Marketing

2 d) public relation

Correct option is 

1 a) Gathering and analysing marketing information

2 a) Advertising

3 d)Place.

Correct option is 

1 a) Brand name

2 b) Standardisation and Grading

3 d) Customer satisfaction is main objective of marketing

Correct option is (c) Brand name

Quantity gift

Correct option is (d) None of the above

Tansportation

Transportation.

Promotion/Promotion Mix

i. Marketing Planning: In order to achieve the objectives of an organisation with regard to its marketing, the marketeer chalks out his marketing plan. For example, a company has a 25 per cent market share of particular product. The company wants to raise it to 40 per cent. In order to achieve this objective the marketeer shall have to prepare a plan in respect of the level of production and promotion efforts. It will also be decided that who will do what, when and how. To do this is known as marketing planning.

ii. Product Designing and Development: Product designing plays an important role in product selling. The company whose product is better and attractively designed sales will be more than the product of a company whose design happens to be weak and unattractive. In this way, it can be said that the possession of a special design affords a company competitive advantage. It is important to remember that it is not sufficient to prepare a design in respect of a product, but it is more important to develop it continuously.

(1) Physical attributes: Good personality, sound health and stamina.

(2) Social and mental attributes: Presence of mind, imagination, quick observation and judgement, initiator tactful, disciplined and loyal.

Market Planning: After collecting and analysing the market information, the next function of marketing is to develop appropriate marketing plans so that marketing objectives can be achieved. It involves making plans for increasing the production level, plans for promotion of products, etc. It also specifies the action programme that are needed to achieve these objectives.

Product Designing and Development: A product can be successfully marketed only when it satisfies the desires and needs of the consumers. The next function of marketing is the product designing and development. It involves taking decisions regarding features, design, shape, size, appearance, etc. of the product. Design of a product makes the product more attractive and provides a competitive advantage in the market. For e.g. Swift car is very popular due to its unique design.

Marketing functions include a series of specialised activities performed on the marketing of goods and services.

(a) Market Planning: This is concerned with the development of appropriate marketing plans to achieve the marketing objectives of an organisation. This includes making a comprehensive action programme covering all the important aspects of the plan.

(b) Product Designing and Development: Another important marketing activity is related to the product designing and developing in such a way so as to attract the targeted customers. The product design should be such, which improves the performance of a product or gives it a competitive edge over its competitors.

1. Product Designing and Development: Product designing plays an important role in product selling. The company whose product is better and attractively designed sales will be more than the product of a company whose design happens to be weak and unattractive. In this way, it can be said that the possession of a special design affords a company competitive advantage. It is important to remember that it is not sufficient to prepare a design in respect of a product, but it is more important to develop it continuously.

2. Marketing Planning: In order to achieve the objectives of an organisation with regard to its marketing, the marketeer chalks out his marketing plan. For example, a company has a 25% market share of particular product. The company wants to raise it to 40%. In order to achieve this objective the marketeer shall have to prepare a plan in respect of the level of production and promotion efforts. It will also be decided that who will do what when and how. To do this is known as marketing planning.

Factors affecting choice of channel of distribution.

(i) Product related factors.

(ii) Company characteristics.

(iii) Competitive factors.

(iv) Market factors.

(v) Environmental factors.

In the given case, the marketing philosophy involved is:

The Marketing Concept: The focus of the marketing concept is on the customer's needs and the customer satisfaction. Integrated marketing is the means to achieve the firms objective of maximising profit under this concept. The purpose of marketing is to generate customer value at a low profit.

The following are the pillars of the marketing concept:

(i) Identification of market or customer who are chosen as the target of marketing efforts.

(ii) Understanding needs and wants of the customers in the targeted market.

(iii) Development of products or services for satisfying needs of the targeted market.

Correct option is a) Both are correct and (R) is the correct explanation of (A)

Lower price increases number of customers

Correct option is a) Both are correct and (R) is the correct explanation of (A)

Personal selling is possible with face to face communication

Role / Objectives of Marketing 

(1) Role in a Firm :

Modern marketing emphasises that customer satisfaction is the key to the survival and growth of an organization. A satisfied customer is the most valuable asset of any rm. So product must be designed according to the needs and wants of the consumers, ensure fair distribution and determine an appropriate pricing strategy.

(2) Role in the Economy :

Marketing plays a significant role in the economic development of a nation. Marketing helps to increase the standard of living of the people by providing quality goods at reasonable prices. Marketing accelerates the economic activity leading to higher incomes, more consumption and increased savings and investment.

Factors affecting choice of channels of distribution:

(a) Product related factors: Industrial goods which are technical or complex (made as per order) and are of higher value generally have direct channels. Goods which are standardised, non-complex, non-perishable or low priced are normally sold through indirect channels of distribution.

(b) Company related factors: If the financial strength of the company is good and wants to hold on its channel members, it will opt for direct selling. For example, selling through its own retail outlets, mail order selling, etc.

(c) Market related factors: The size of the market, geographical concentration of potential buyers and quantity purchased affect the decision of the choice of channel. If the customers are geographically concentrated in a small place or if the order size is large enough, a direct channel of distribution can be used, otherwise indirect channel is opted by the manufacturer.

(d) Competitive factors: Choice of channel may be decided by a company either to go wit/to be different from its competitors.

(e) Environmental factors: Economic conditions and legal constraints also affect the choice of channel of distribution. In case of a depressed economy, a company may choose indirect channel to distribute goods in an economical manner.

(i) Product Concept

(ii) (a) Main Focus: This concept emphasises on the features of product.

(b) Means: Management can attract customers by making continuous improvement in the quality and in its features.

Ends: Products improvement is the key to profit maximisation under the product concept.

Marketing functions include a series of specialised activities performed on the marketing of goods and services.

(a) Marketing research/Gathering and analysing market information: Marketing research is the systematic investigation of the facts relevant to the various aspects in marketing. Marketing research helps managers to arive at an appropriate decision. Market information should be gathered and analysed, appropriately.

(b) Customer support services: Services such as after sales services, maintenance services, technical services, handling customer complaints are included in this function.

Advertising :

Advertising may be defined as “any paid form of non-personal presentation and promotion of ideas, goods or service of an identified sponsor”.

Merits of Advertising 

1.  Advantages to Manufacturers and Traders 

(1) Advertising helps in introducing new products. 

(2) It stimulates the consumers to purchase the new products.

(3) Advertisement helps to increase the sales of new and existing products. 

(4) It helps to increase the goodwill of the rm.

(5) It helps to face the competition in the market. 

(6) It increases profit of the rm through large sales.

2. Advantages to Consumers 

(1) It helps the consumers to know about the various products and their prices. 

(2) Consumers can purchase the better products easily. 

(3) It helps in maintaining high standard of living.

(4) It educates the consumers about the various uses of products. 

3. Advantages to the Society 

(1) Advertisement helps to create more employment opportunities. 

(2) It provides an important source of income to the press, radio, T.V., etc. 

(3) It is a source of encouragement to artists.

(4) It plays an important role in economic development of the country. 

(5) It reduces number of middlemen and consumers get quality products at lower cost.

In Physical Distribution of products four activities are included and decisions related to these activities are taken.

These four activities are as follows:

i. Transportation: Transportation is that activity through which products are moved from one place to another. By making the products reach at desirable place increases the importance and value of those products. Many means of transportation are available, like — road, railway, air, water, pipeline etc.

ii. Inventory: By inventory we mean the stock of raw material, semi-finished goods and finished goods held in anticipation of sales or use. How much inventory should be kept for various items? This is an important decision in Physical Distribution. The main reason why this decision is important is that if the inventory is either more or less than required, both the situations have their advantages and limitations.

iii. Warehousing: Oftenly it is noticed that it takes some time between purchasing/ manufacturing and selling. For this time period material has to be kept in stock. Under warehousing activity following decisions regarding the inventory of material are taken:

a. Which is a better option? (To own or to rent a warehouse)

b. Which is the right location for a warehouse? (Nearer to factory or nearer to market).

c. Which decision is more apposite? (To locate the warehouse at one place or at different places)

iv. Order Processing: Order Processing means the process which is followed to fulfill the material order of the customer.

Different steps of an order processing are as follows:

a. Orders placed by consumers to salesperson.

b. Transmission of order by salesperson to company.

c. Entry of order in Company Office.

d. Evaluate the reputation of customer.

e. Check inventory and prepare scheduling.

f. Shipment of material in accordance to the order.

g. Receive Payment.

Marketing :

Marketing may be defined as all activities that are facilitating the movement of goods and services from producer to the ultimate consumer

Marketing Management :

It refers to planning, organising, directing and controlling of the activities. Role / Objectives of Marketing 

(1) Role in a Firm :

Modern marketing emphasises that customer satisfaction is the key to the survival and growth of an organization. A satisfied customer is the most valuable asset of any firm. So product must be designed according to the needs and wants of the consumers, ensure fair distribution and determine an appropriate pricing strategy.

(2) Role in the Economy :

Marketing plays a significant role in the economic development of a nation. Marketing helps to increase the standard of living of the people by providing quality goods at reasonable prices. Marketing accelerates the economic activity leading to higher incomes, more consumption and increased savings and investment.

Characteristics that should be kept in mind while choosing a good brand name:

(i) Short and easy to pronounce,

(ii) Suggestive,

(iii) Distinctive,

(iv) Adaptable to packaging and labelling requirements,

(v) Versatile,

(vi) Capable of being registered and protected legally,

(vii) Appealing power.

Meaning: It refers to the group of those activities which are related with the designing and production of the containers in which the products are packed.

Functions of Packaging:

i. Product Identification: Packaging serves as an identification of the product. A product is packed in special sized, coloured and shaped container for keeping its difference from the products of competitors. For example, they yellow and black coloured pack of KODAK ROLL tells itself of its producer.

ii. Product Protection: The main function of packaging is to provide protection to the product from dirt, insects, dampness and breakage. For example, the products like biscuit, jam, chips etc. need to be protected from environmental contact. That is why they are tightly packed.

iii. Convenience: Packaging provides convenience in the carriage of the product from one place to another, in stocking and in consuming.. For example, the new pet bottles of COKE makes the carriage and stocking easier. Similarly, the pack of FROOTI provides convenience in its consumption.

iv. Product Promotion: Packaging simplifies the work of sales promotion. Packing material in the house reminds the consumers constantly about the product. In this way, the packaging performs the role of a passive salesman. Consequently, it increases the sales..

1. Unit value of the product: When the product is very costly it is best to use small distribution channel. For example, Industrial Machinery or Gold Ornaments are very costly products that is why for their distribution small distribution channel is used. On the other hand, for less costly products long distribution channel is used.

2. Perishability: A manufacturer should choose minimum or no middlemen as channel of distribution for such an item or product which is of highly perishable nature. On the contrary, a long distribution channel can be selected for durable goods.

3. Technical nature: If a product is of a technical nature, then it is better to supply it directly to the consumer. This will help the user to know the necessary technicalities of the product.

4. Number of buyers: If the number of buyer is large then it is better to take the services of middlemen for the distribution of the goods. On the contrary, the distribution should be done by the manufacturer directly if the number of buyers is less.

5. Types of buyers: Buyers can be of two types: General Buyers and Industrial Buyers. If the more buyers of the product belong to general category then there can be more middlemen. But in case of industrial buyers there can be less middlemen.

Market:

It refers to a place where the buyers and sellers meet each other for sale and purchase of the commodity.

Marketing :

Marketing may be defined as all activities that are facilitating the movement of goods and services from producer to the ultimate consumer.

Functions of Marketing 

(1) Marketing Research :

Marketing Research is a process of collecting and analysing market information to identify the needs and wants of the customers.

(2) Marketing Planning :

Another function of marketing is to develop appropriate marketing plans so that the marketing objectives of the organisation can be achieved. 

(3) Product Designing and Development: 

The products are designed and developed according to the needs and wants of the consumers. It requires decision making on various aspects such as the product to be manufactured, its packing, selling price, quality of the product, etc.

(4) Standardisation and Grading:

Standardisation refers to producing goods of predetermined specifications. Grading is the process of classification of products info different groups, on the basis of quality, size, etc. 

(5) Packaging and Labelling :

Packaging refers to designing and developing the package for the products. Packaging gives protection to goods. Also it attracts the consumers to buy the product. Labelling refers to designing and developing the label to be put on the package.

(6) Branding:

A brand is a name, term, sign, symbol, design or some combination of them, used to identify the products of one seller and to differentiate them from those of the competitors. 

(7) Customer Support Services :

An important function of the marketing management is to develop customer support services such as after sales services, handling customer complaints, etc. which provides maximum satisfaction to the customers. 

(8) Pricing :

Price of a product refers to the amount of money which customers have to pay to obtain a product. Price is an important factor affecting the success or failure of a product in the market. Price is fixed after taking into account the cost of production, desired profit, competitor’s price, govt, policy, etc.

(9) Promotion :

Promotion of products and services involves informing the customers about the rm’s product, its features, etc. and persuading them to purchase these products. It includes Advertising, Personal Selling, Publicity and Sales Promotion.

(10) Physical Distribution :

It includes decision regarding channels of distribution and physical movement of the product from the production centre to the consumption centre. 

(11) Transportation: 

Transportation involves physical movement of goods from one place to another. It removes the hindrance of place and creates time utility. 

(12) Storage or Warehousing :

In order to maintain smooth ow of products in the market, there is a need for proper storage of the products. It stabilizes the prices of products and keep the product without damage until they are sold.

Advertising :

Advertising may be defined as “any paid form of non personal presentation and promotion of ideas, goods or service of an identified sponsor”.

Merits of Advertising 

1. Advantages to Manufacturers and Traders

(1) Advertising helps in introducing new products. 

(2) It stimulates the consumers to purchase the new products. 

(3) Advertisement helps to increase the sales of new and existing products. 

(4) It helps to increase the goodwill of the firm.

(5) It helps to face the competition in the market. 

(6) It increases profit of the firm through large sales.

2. Advantages to Consumers 

(1) It helps the consumers to know about the various products and their prices.

(2) Consumers can purchase the better products easily. 

(3) It helps in maintaining high standard of living. 

(4) It educates the consumers about the various uses of products.

3. Advantages to the Society 

(1) Advertisement helps to create more employment opportunities. 

(2) It provides an important source of income to the press, radio, T.V., etc. 

(3) It is a source of encouragement to artists.

(4) It plays an important role in economic development of the country.

(5) It reduces number of middlemen and consumers get quality products at lower cost.

Definition: In the words of C.L. Bolling, ‘‘Advertising can be described as the art of creating a demand for article or a service.”

Features: Main features of advertising are as under:

i. Paid Form: Only that attempt of the seller on which he has spent some money to communicate information to the consumer is called advertising. If without incurring any expenditure some information relating to some product or service is published, it will not be called advertising. It may be called propaganda or publicity.

ii. Impersonal Presentation: Advertising is non-personal presentation of information. In other words, advertiser and consumer do not come into personal contact. Advertising is a monologue and not a dialogue.

iii. Speedy and Mass Communication: Advertising is a speedy medium of communication. Besides being speedy, its operational area is very vast. In other words, it reaches millions of people simultaneously.

iv. Identified Sponsor: Another feature of advertising is that its sponsor can be identified. If due to some reason it is difficult to identify the sponsor, then that information cannot be called advertising. It will be called propaganda or publicity.

Correct option is  (b) Marketing

As exchange is known as essence of marketing.

The following information is normally placed, on the package of good product:

1. Name of the product 

2. Brand name 

3. Veg/Non-veg sign (green/red dot) 

4. Price 

5. Manufacturing date and date of expiry 

6. Ingredients 

7. Net weight 

8. Directions of use 

9. FPO mark 

10. Preservations used

It refers to the combination of all decisions relating to the Transportation, Inventory, Warehousing and Order Processing of goods.