Question:
Explain the following functions of marketing:
(i) Marketing Planning
(ii) Branding
(iii) Pricing
Explain the following functions of marketing:
(i) Marketing Planning
(ii) Branding
(iii) Pricing
(i) Marketing Planning
(ii) Branding
(iii) Pricing
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Functions like marketing planning, branding, and pricing ensure product visibility, customer satisfaction, and revenue generation.
Updated On: Feb 21, 2025
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Solution and Explanation
(i) Marketing Planning: Developing marketing plans to achieve organizational objectives, including increasing production, promoting products, and specifying action programs for execution.
(ii) Branding: The process of assigning a name, symbol, or sign to distinguish a product from competitors. Branding decisions involve whether to use separate brand names or a common one for all products.
(iii) Pricing: Refers to the amount customers must pay for a product, balancing demand and pricing strategies.
(ii) Branding: The process of assigning a name, symbol, or sign to distinguish a product from competitors. Branding decisions involve whether to use separate brand names or a common one for all products.
(iii) Pricing: Refers to the amount customers must pay for a product, balancing demand and pricing strategies.
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