Marketing -product, price

After doing a diploma in entrepreneurship, Farihad started his own confectionary business. He started doing a lot of hard work and used the recipes taught by his grandmother in various preparations. He also learnt many recipes from online sites and television programmes. He decided to keep the price of the products low initially and also informed his customers about the goodness of the items sold by them. However, he didn’t mention on the package of each item weather it contained eggs or not. As a result, vegetarian people became hesitant in buying things from his shop as they had to verbally inquire from him about the inclusion of eggs in the preparation of various items.

In the context of above case:

Name the important aspect related to the marketing of products which has been ignored by Farihad.

• labelling

• Packaging

• branding

• product

Arun and Rukun are good friends. After doing a fashion designing course from a reputed institute, they have set up a garment factory in the rural area of Faridabad to manufacture trendy casual wear like jeans, T-shirts, shirts etc. under the brand name ‘Swatantra’. They have employed people from the nearby villages itself in the factory. Identify the element of marketing mix being taken into consideration by Arun.

• Product

• Price

• Place

• Promotion

Suraj is a small entrepreneur involved in the manufacturing of hair wax. He finds that cost of production of 100 gm of hair wax is Rs. 250. He has decided to keep a margin of 15% as profit. Moreover, he has assessed that there is a free competition in this product segment.

In the context of above case:

Identify the function of marketing being performed by Suraj.

• Product

• Price

• Place

• Promotion

Arvind is planning to start a company manufacturing room fresheners. He intends to use natural fruit extracts for adding fragrance to them. He estimates an investment of Rs. 20 crores to set up the factory. As it is difficult for him to raise the entire capital amount alone, he gives a partnership offer to his school friend, Sanjay who is an angel investor. Sanjay, after being convinced about the feasibility of the project, accepts his offer. Sanjay tells Arvind that they should also focus on other important decisions related to the product ‘room fresheners’ besides deciding about its features, variety and quality. Branding is one of the important such decision.

In the context of above case:

Name any other two important decisions related to a product

• Brand name , brand mark

• brand mark and trade mark

• packaging and labelling

• brand name, trade mark

Rupali intends to start an enterprise that produces chocolates. Initially, in order to assess the taste and preferences of the people about the chocolates. She used social media and online surveys. Thereafter, she prepared a detailed SWOT (strengths, weaknesses, opportunities and threatsjanalysis of her enterprise to devise a strategy that will give her an edge over the competitors. Based on her analysis of the market, she decided to launch sesame and jaggery based chocolates under the brand name ‘Desi Delight’. She has decided to fix up the price of chocolates relatively at lower level in the beginning and later on as the demand picks up she may revise the prices.

In the context of above case:

Identify the elements of marketing mix being taken into consideration by Rupali

• Product, price

• Price, Place

• Place, Promotion

• Product and promotion

As the number of people making online purchases has increased manifolds, there is a growing concern about the disposal and management of packaging waste. Every item bought is delivered with excess packaging and sometimes even non-biodegradable materials are used.

In the context of above case:

Name the other two levels of packaging that the marketers may be using besides the immediate package.

• Primary

• Secondary

• Transportation

Unilever has found a new way to make ice creams by using an ingredient called ‘ice structuring protein’ which is widely found in nature especially, in fishes which allows them to survive in freezing arctic waters. Combining ISP with stabiliser technology allows to make ice creams that don’t melt so easily thereby making it more convenient for small children and consumers in hot countries.

In the context of above case:

Identify the component of marketing mix being taken into consideration by the company.

• Product

• Price

• Place

• Promotion

ABC Crackers Ltd., a fire-cracker manufacturing company, launched some new products on the eve of Diwali in the market which attracted many buyers. To meet the increasing demand, the company employed people from nearby villages where there was a lot of unemployment. Because of the good behaviour of the management with the employees, more and more people wanted to join the company. As the products were in great demand in the market, a competitor imitated the products. The products of the competitor were not accepted by the consumers as it was a status symbol to buy the products of ABC Crackers Ltd. because of their quality.

Identify the product-related decision because of which consumers preferred the products of ABC Crackers Ltd.

• Branding

• Labelling

• Packaging

Crackers Ltd., a fire-cracker manufacturing company launched some new products on eve of Diwali which attracted many buyers. To meet the increased demand, the company employed children from nearby villages. Although the product was in great demand, appropriate safety warnings for use were not mentioned on the packets that led to many accidents.

Identify the important product-related decision that was not taken into consideration by the company.

• Branding

• Labelling

• Packaging

Zoom Udyog, a car manufacturing company, has started its business with Zoom-800 and slowly launched Zoom-1000, Wagon-Z, Swy-fy etc. and offered various services like after sales services, availability of spare parts, etc. Identify the element of marketing mix referred here.

• Product

• Price

• Place

• Promotion