Question

Radhika was a student of Business Studies of Class XII. Her father was a farmer who grew different varieties of rice and was well-versed about various aspects of rice cultivation. He was also selected by the government for a pilot project on rice cultivation. As a project-work in Business Studies she decided to study the feasibility of marketing good quality rice at a reasonable price. Her father suggested her to use the internet to gather customers views and opinions. She found that there was a huge demand for packaged organic rice. She knew that there were no predetermined specifications in case of rice because of which it would be difficult to achieve uniformity in the output. To differentiate the product from its competitors, she gave it the name of 'Malabari Organic Rice’ and classified it into three different varieties namely: Popular, Classic and Supreme, based on the quality. She felt that these names would help her in the product differentiation.

Explain the three functions of marketing, with reference to the above paragraph.

Answer 1

Functions of marketing referred in above para are as follows:

(a) 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.

"use internet to gather customers" views and opinions"

(b) Standardization and Grading: Standardisation refer to determining the basic measure/standard of the product with regard to shape, size, colour quality, quantity, etc. Grading is the process of classification of the product into different groups, on the basis of some parameters like quality, quantity, size, etc.

"no predetermined specification in case of rice because of which it would be difficult to achieve uniformity in the output."

                                              Or

"classified it into three different varieties namely-Popular, Classic and Supreme, based on the quality."

(c) Branding: It is the process of stamping a product with some identifying name or mark or a combination of both.

"To differentiate the product from its competitors, she gave it the name of Malabari Organic Rice."

                                            Or

"She felt that these names would help her in product differentiation.”