Functions of Marketing:
(i) 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.
(ii) Standardisation 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.
(iii) Customer support services: Services such as after sales services, maintenance services, technical services, handling customer complaints are included in this function.
(iv) Pricing: Pricing is the process of fixing the price of a product or service. Prices are generally fixed by manufacturers carefully after looking into three factors, i.e., the cost of production, the demand for the product and the nature of competition.