Question

Explain the following functions of marketing:
(i) Product Designing and Development
(ii) Physical Distribution
(iii) Storage or Warehousing

Hint:

For marketing functions, visualize the product journey. For pricing factors, remember the 3Cs: Cost, Customers, Competition.

Answer 1

Functions of Marketing

(i) Product Designing and Development:

This function involves creating a product with features, appearance, and quality that appeal to the target customers. It helps in differentiating the product from competitors and influences customer preferences and buying decisions.

Example: Designing a smartphone with a better camera, sleek look, and user-friendly interface to attract customers.

(ii) Physical Distribution:

Physical distribution refers to the process of delivering the finished products to consumers. It includes two main activities: transportation and warehousing. Efficient distribution ensures that goods reach the right place, at the right time, in the right condition.

Example: Transporting goods from the factory to retail outlets using trucks, and storing them in warehouses before sale.

(iii) Storage or Warehousing:

This function involves holding and preserving goods until they are demanded by the consumers. Warehousing helps in maintaining a regular supply of products, managing seasonal demand, and protecting goods from damage or theft.

Example: A company storing its winter clothing line in warehouses during summer until it is needed in the market.

Conclusion: These functions are essential to ensure that the right products are designed, stored, and distributed effectively to meet customer needs and enhance satisfaction.