(a)OR(b)

Explain the following functions of marketing :

(i)

Marketing Planning

(ii)

Branding

(iii)

Pricing

1. Marketing Planning:  An important area of work of a marketer is to develop appropriate marketing plans so that objectives of the organisation can be achieved.  Appropriate marketing plans includes the plan for increasing the level of production, promotion of the products, etc. and specifying the action programmes to achieve these objectives. 2. Branding:  Branding is the process of giving a name or sign or a symbol to a product which helps in identifying and distinguishing it from the competitor’s products.  The important decision areas in respect of branding include deciding the branding strategy, say whether each product will be given a separate brand name or the same brand name will be extended to all products of the company. 3. Pricing :  Price of product refers to the amount of money customers have to pay to obtain a product.  Generally, lower the price, higher would be demand for the product and vice versa. Q. (b) Explain 'Advertising', 'Sales Promotion' and Public Relations a elements of promotion mix. Advertising  It is an impersonal form of communication, which is paid for by the marketers (sponsors) to promote some goods or service.  The most common modes of advertising are ‘newspapers’,‘magazines’, ‘television’, and ‘radio’. Sales Promotion  Sales promotion refers to short-term incentives, which are designed to encourage the buyers to make immediate purchase of a product or service.  Sales promotion activities include offering cash discounts, sales contests, free gift offers, and free sample distribution. Public Relations  Public relations involve a variety of programmes designed to promote or protect a company’s image and its individual products in the eyes of the public.  They are especially useful when there is negative publicity about the company or its products.