Question 1

What is marketing? What functions does it perform in the process of exchange of goods and services? Explain.


Marketing consists of all those activities, which involve satisfaction of consumer’s need. It is the process by which products are matched with needs and through which the consumer is able to use and enjoy the product.

Functions of marketing are:

  • Gathering and Analysing Market information/Market Research.
  • Marketing Planning.
  • Product designing and development.
  • Standardisation and Grading.
  • Packaging and labelling.
  • Branding.
  • Customer support services.
  • Pricing of product.
  • Promotion.
  • Physical distribution.
  • Transportation.
  • Storage and warehousing.

Popular Questions of Class 12 Business Studies

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