Question

Explain the following functions of Marketing: (i) Gathering and analysing market information. (ii) Product designing and development. OR…

Accepted Answer

(a) (i) Gathering and analysing market information.  Gathering and analysing market information is necessary to identify the needs of the customers and take various decisions for the successful marketing of the products and services.  This is important for making an analysis of the available opportunities and threats as well as strengths and weaknesses of the organisation and help in deciding what opportunities can best be pursued by it. (ii) Product designing and development.  Product designing and development is an important marketing activity as the design of the product contributes to making the product attractive to the target customers.  A good design can improve performance of a product and give it a competitive advantage in the market. OR Basis Production Concept Product Concept (i)Starting It starts after the product It starts after the (ii)Point is produced in the factory. product is produced in the factory. --- --- --- (iii)Main Focus Its focus is on the quantity produced. Its focus is on quality, performance and features of product. Means It uses availability and affordability of product as a means to achieve the objective. It uses product improvement as a means to achieve the objective.

Explain the following functions of Marketing:
(i)
Gathering and analysing market information.
(ii)
Product designing and development.

Marking-scheme solution

More from Marketing

(ii)Point	is produced in the factory.	product is produced in the factory.
(iii)Main Focus	Its focus is on the quantity produced.	Its focus is on quality, performance and features of product.
Means	It uses availability and affordability of product as a means to achieve the objective.	It uses product improvement as a means to achieve the objective.