Explain any four functions of marketing.

Answer: Main functions of marketing (any four):

1. Market research: Collecting and analysing information about consumer needs, tastes, competition and market trends to take marketing decisions.
2. Product planning and development: Deciding the design, quality, size and features of the product according to consumer needs.
3. Standardisation and grading: Fixing standards of quality, size and weight, and sorting products into grades, which builds consumer confidence.
4. Packaging and labelling: Packing goods to protect, store and attract buyers, and labelling them with information like price, contents and expiry date.
5. Branding: Giving a distinct name or symbol to the product so that it can be identified and promoted.
6. Pricing: Fixing a suitable price considering cost, demand, competition and government policies.
7. Promotion: Informing and persuading customers through advertising, personal selling, sales promotion and publicity.
8. Distribution, transport and warehousing: Making goods available at the right place and time through channels of distribution, transport and storage.