Nature & Functions of Marketing

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  • Q1

    Purchase of goods after reading catalogue or price list is

    Marks:1
    Answer:

    purchase by description.

    Explanation:

    Purchase of goods after reading catalogue or price is known as purchase by description.

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  • Q2

    Place utility is created by

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    Answer:

    transportation.

    Explanation:

    Transportation involves physical movement of goods from one place to another. It creates place utility by distributing products to the places where it is needed for consumption.

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  • Q3

    Warehousing create

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    Answer:

    time utility.

    Explanation:

    Warehousing creates time utility by filing gap between the production/ procurement of goods and their sale/use.

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  • Q4

    Convenience in carrying products from one place to another is offered by

    Marks:1
    Answer:

    packaging.

    Explanation:

    Packaging involves designing of an appropriate package for the product. It provides protection to the product and offers convenience in carrying products from one place to another.

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  • Q5

    Branding of a product helps in

    Marks:1
    Answer:

    product differentiation.

    Explanation:

    Branding refers to the process of assigning a distinctive name or symbol to a product. It provides the basis for distinguishing the product of a firm from its competitor.

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