Warehousing is a convenient place where goods are kept. It protects the products from dust, water, insects and sun. It creates the place and time utility. It also helps to maintain the stock so that there is no chances to be shortaged of products in the market. It means, it helps to regular flow of goods in the target market. As a result, there is no price fluctuation in the market. It also helps to take teh credit from the financial institutions. It accepts the risk and transfer to the insurance companies. Hence, it plays a...
Grading is the process of dividing the products into lots which are similar characteristics in shape and size, type, weight, quality and performance etc. Products of different qualities should be separated into groups or lots and similar quality products are put into a grade. There are two types of grading; one is fixed grading which refers to storing out of goods on the basis of standard(size, quality etc) already set, to be followed from...
Standardization means the establishment of certain standards of the qualities or the intrinsic physical properties of a commodity. It certifies that the products are of a certain quality. It is a model. It is a grade or a class. It is measured in units of qualities or characteristics of product of service. It may be based on a number of characteristics such as color, quality, weight and shape and size etc.It plays important role in marketing...
Selling is an important function of marketing that transfers ownership of goods and services by the seller to the buyer in terms of money. It is one side of equation of exchange, where another side is buying when products are sold to buyers, sellers hand over ownership to the buyers. Hence, ownership transfers from the possession of sellers to the possession of buyers is known as silling. It is a process whereby goods and services finally...
Meaning and definitions: Marketing function is an act or service which links the producer to the ultimate consumers. It helps to transfer the ownership of the product trom producer to intermediaries and intermediaries to ultimate consumers. It involves a number of operators to be performed while transfering products from producers to consumers. For eg: collection of buying storing, grading, packing selling, transporting etc. Similarly,...
Demand creation is the process that is designed to stimulatee the desire of customers into a demand towards the product. To create the demand, marketers must use some efforts which stimulate a desire for products to purchase the goods. There are different promotional tools which are used by producers and marketors to create the demand of customers. They are advertising personal selling, sales, promotion, publicity and public relations which...
There are different concepts of needs, wants and demand below. All these words may have same meaning in ordinary sense. Here, their meaning, uses and concepts are discussed below which make us to understand more during the learning of market and marketing. In economics and marketing viewpoints they have different meanings. They are being discussed below clearly.Needs: Needs are a state of felt deprivation. The necessity of something is...
