Grading is the process of sorting individual units of a product into well defined classes or grades of quality. Definition: Pricing is the method of determining the value a producer will get in the exchange of goods and services. D. Sorting products according to size and quality. Advertisement Remove all ads Solution Standardization means to determine standards related to process, size, quality, design, weight, color, etc. E.movement of goods from one place to another. Explain the advantages of branding to marketers of goods and services. Storage 5. Promotion 10. Policies toward setting the quality of products. (a) Quality product (b) Complex graphics (c) Promotional tool (d) Promotion budget Identify the elements of marketing mix:-(a) Product (b) Price (c) Promotion (d) All of the above Standardization is essential for gaining the trust of the buyers. Storage 6. C. Promoting the product. Stability of the price is ensured. List of 200+ marketing objective type or multiple choice (MCQ) question and answers! Quality grades (or grade standards) serve as a universal language of trade and driver of technology adoption. Physical distribution 11. Some of the major functions of marketing are as follows: 1. Reason (R) Standardising and grading are basic marketing functions, but while assigned grades attest the quality of products such as eggs, milk, wheat etc. Mostly, buying and selling of products is done on the basis of grade or mark. (A) Grading (B) Standardisation (C) Product designing (D) Marketing planning. Standardization marketing strategy is typically applied to discussion of global businesses and means to market a solution with uniform consistency throughout the marketing mix. It helps in ensuring uniformity in the quality of the product. (ii) Standardisation and Grading:Standardisation refer to determining the basic measure/standard of the product with regard to shape, size, colour quality, quantity, etc. The customers need to examine all the goods which are not standardized or graded. Chapter 5 Marketing of Agricultural Products Abdul Ghafoor, Hammad Badar and Asif Maqbool* Abstract Agricultural marketing includes all activities which add value to agricultural products as they move from areas of agricultural production to ultimate consumption points. 4 - Development and Implementation of Agricultural Marketing Research and Information Network(MRIN) sub scheme. 6. Some of the major functions of marketing are as follows: 1. This strategy can vary depending on what service or good you're offering, as there are different distribution channels in marketing. Packages and labels communicate . Functions of Marketing. E-Marketing MCQ Questions and Answers Part - 2. The Netherlands is the biggest exporter of cut flowers, with a total value of € 2.9 billion exported mainly to the European market. Standardization and grading: Standardization refers to producing products with predetermined specifications and grading classifies the product into different groups on the basis of size, quality etc. Markets can place orders based on quality grades, which will then be Standardization refers to the process of setting up basic measures or standards to which the products must conform and taking steps to ensure that the goods actually produced adhere to these standards. C Grading and Standardization : Grading is the sorting out of the commodities into different . This topic discusses a widely acceptable list of marketing . Pricing in Marketing. Marketing Jobs, Research 4. Pricing of Products 9. 52. So, wholesalers are firms whose main function is providing 'wholesaling activities.' It is important for a marketing manager to understand the role wholesalers play in a distribution system, what functions they provide, and the strategies they use. It ensures that all the articles of a given product are homogeneous and uniform. Disputes in the market can be solved in a good manner. providing the necessary cash and credit to produce goods and services. Ans: Branding is an important function performed by a marketer. The benefits of standards for European industry are extensive. Marketing is the process that comprises of all the activities involved from the concept of the product all the way till it reaches the final consumer. ADVERTISEMENTS: Standardisation determines the specifications of a manufactured product such as size, quality, performance etc. Standardization is a framework of agreements to which all relevant parties in an industry or organization must adhere to ensure that all processes associated with the . Demand of the product is inversely related to its price. (a) Standardisation (b) Branding (c) Pricing of products (d) Grading. • Packaging is also used for convenience and information transmission. Nowadays warehouses pack the goods in convenient packages and do the grading of goods into different categories as per their standards and quality. Grading is the process of classification of the product into different groups, on the basis of some parameters like quality, quantity, size, etc. D. looking for nd evaluating goods and services. includes buying, selling, transporting, storing, standardization and grading, financing, risk taking and market information. A. macro-marketing. Market Information. Irrelevance of certain marketing functions/activities. It has practical importance. Definition of Marketing Research. 4. Q.8 Market conduct includes? standardising aims at maintenance of uniform size and quality standards. Storage 5. Q 2: Milk can now be stored for 4-5 days without refrigeration in the recently developed packing materials Which importance of packaging is highlighted in above example. Grading and standardization consist of arranging produce into a number of uniform categories according to physical and quality characteristics of economic importance. 6. Product Designing & Development: Design of the product contributes to making the product attractive to the target customers. Functions of Marketing - Buying, Assembling, Standardizing, Grading, Branding, Packing, Packaging, Warehousing, Insurance and Financing of Trade Function # 1. Simply, pricing method is used to set the price of producer's offerings relevant to both the producer and the customer. Question 3. This function can be accomplished by grading and standardisation. If a product is changed at all, it is only changed superficially. If quantity, size, quality of goods is already known, only price remains to be negotiated. The universal functions of marketing? • Labelling and packaging can be used by marketers to encourage potential buyers to purchase the product. Importance: • The role of packaging and labeling has become quite significant as it helps to grab the attention of the audience. Standardization is the process of creating protocols to guide the creation of a good or service based on the consensus of all the relevant parties in the industry. 3. The term 'commodity' is commonly used in reference to basic agricultural products that are either in their original form or have undergone only primary processing. C.sorting products according to size and quality.D.looking for and evaluating goods and services. agricultural marketing must include both product marketing and input marketing. Customers can buy standardized goods effortlessly. Specially, the subject of agricultural marketing includes marketing functions, agencies, channels, efficiency and costs, price spread and market integration, producers surplus, government policy and research, training and statistics on agricultural marketing. The second most advantage of standardization is the fact that it can help with the reduction of costs because only what is important for the product will be included. Marketing Planning 3. 113. It makes selling and buying functions easy and more effective. 1. Selling 2. AGRICULTURAL AND FOOD MARKETING MANAGEMENT. Grading enhanced to set a reasonable price for graded products. Standards grading (or Absolute-Standards grading) - Comparing student performance to a pre-established standard (level) of performance Narrative grading -Writing Comments about students There are many people who declare there are many advantages of the modern education system and there are also others who say the complete opposite. Marketing Important Questions for CBSE Class 12 Business Studies Marketing and Marketing Management. Grades and Standards. Market planning: New important area of work of a marketer is to develop suitable marketing plans so that marketing objectives of the organization can be achieved. The policy of liberalization, privatization, and globalization of the Government has made a significant impact on the working of enterprises in business and industry. Consumer goods with unique characteristics or brand identification often requiring a special purchase effort are called—-. Answer: A. Grading. Efficiency in the use of resources. E. personalized marketing. Ans: (a) Product Differentiation. E. movement of goods from one place to another. Grading is the process of classifying products as per their characteristics such as size, colour, shape etc. In addition, the raw agricultural produce as marketed by farmers has to be processed by many middlemen This include collection and assembling, financing, grading and standardization, storage, transportation, wholesaling and retailing these functions performed by village merchants, commission agents, wholesalers, processors etc. Correct answer: (C) Shopping. To standardize is to decrease to or to contrast and with a standard; decide the quality, value or nature of by comparison with a standard. The standards ensure that goods or services produced in a specific industry come with consistent quality and are equivalent to other comparable products or services in the same industry. C. sorting products according to size and quality. Transportation 4. of the product. Marketing functions acting as aids to the functions of exchange and functions of physical supply, e.g., risk-bearing or insurance, financing, standardisation and grading, and marketing research and information. Advantages of Grading It brings confidence between the buyer and the seller. It facilitates inter state and international marketing. The standardization and grading function of marketing involves: A. an organizational function and a set of process for creating, Communicating and delivering, Value to customers and that benefit the organization. Policies aimed at coercing rivals. Their products and services are not in uniform in every state. What is Product Standardization? Grading is said to be the process of categorizing different products into different groups based on important characteristics such as quality, size . Standards help manufacturers reduce costs, anticipate technical requirements, and increase productive and innovative efficiency. Which of the following are considered as the pillars of marketing? Standardization involves producing goods at predetermined specifications. 22, "Marketing is the creation and delivery of standard of living." This statement is of: (a) Malcomm Mc Nair (b) Paul . Meeting needs profitability. The marketing process performs certain activities as the goods and services move from producer to consumer. Standardization and Grading 6. Financing 7. Selling 2. Q.9 Knowledge of marketable surplus helps the? Standardization and Grading facilitate buying and selling of goods by sample or description. (b) Standardization and Grading (c) Storing of raw material (d) Buying and assembling . The advantages of grading and standardization are as follows. The aim of all grading should be to make the product easier to sell at all levels. Examples include cereals, coffee beans, sugar, palm oil, eggs, milk, fruits, vegetables, beef, cotton and rubber. Distribution—Distribution Strategy in Marketing ; Distribution strategy in marketing entails how a company is going to deliver its products or services to a customer. 15. The functional approach is one of the methods used in classification of activities that occur in the marketing processes by breaking down the processes into functions. The owner of a company that produces electronic circuit boards sees many competitors with extra capacity and says, "the only hope is that our sales manager, who makes all of our marketing decisions, will find a way to sell . B. for-profit marketing. Standardization or standardisation is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments. The universal functions of marketing are: 1. Farmers can take loans easily from the banks on the basis of grades of produce. Misuse of Standards & Grades: It is seen that many producers use standards and grades in an authorized manner. Global standardization is the ability to use standard marketing internationally. It is the process of organizing, directing and controlling the activities related to marketing of goods and services to satisfy customers' needs & achieve organizational goals. Marketing functions are those mechanisms or tools that allow a company to carry out its strategies via its chosen marketing structures. Grading and Standardization | Functions of Marketing Standardization means producing goods of predetermined standards. The case of McDonald's is different. Explain the following functions of marketing: Standardization and Grading Advertisement Remove all ads Solution Standardisation The term 'standardisation' is derived from the word 'standard', which means the presence of certain desirable qualities like durability, safety, purity and other features like design, weight, colour; etc in a product. B. collection, analysis, and distribution of marketing information. Assertion (A) Standardising and grading mean the same thing. Each of the ten major types of wholesalers is discussed below: 1. Marketing functions are those mechanisms or tools that allow a company to carry out its strategies via its chosen marketing structures. Buying and Assembling 3. Standardization and Grading 5. (b) Self Service outlets (d) Innovation opportunity. . Different grade eggs may be sold to different . Marketing of Agricultural Products. Buying 2. Standardization can help maximize compatibility, interoperability, safety, repeatability, or quality.It can also facilitate a normalization of formerly custom processes. Marketing management means management of the marketing functions. NCERT Solutions for Class 12 Business Studies Chapter 11 Marketing Very Short Answer Type Questions. There is lack of feeling of responsibility and national character among our producers and it is a big hindrance in the development of standardization and grading 3. The most formal definition of marketing is ______________. Solution Standardisation : The term 'standardisation ' is derived from the word 'standard' which means the presence of certain desirable qualities like durability,safety,purity and other features like design,weight,colour,etc in a product. Enumerate the functions of Marketing and Sales area of operation. Market Information. Transportation 5. Standardization & Grading; Packaging & Labeling; Branding B.collection, analysis, and distribution of marketing information. The third advantage of standardization is on marketing; standardization makes it easier for buying and selling functions quite easy and most effective. This is an opposite approach to an adaptation strategy, under which multinational companies differentiate their product and adapt it to fit the unique needs of countries. Grading and Packing: Grading and packing of goods is another important function performed by warehouses. For example, if a company is basing its competitive advantage on high quality products and service, the most important marketing functions might be product development and close contacts with customers. Which of the following functions of marketing helps in building customer's loyalty and in promoting its sale? When goods are of standardized quality, customers do not insist on detailed assessment. 234.(p. The classification given above is widely accepted. A marketing function is defined as a major specialized activity performed in accomplishing the marketing process. Direct distribution By grading, there is fairness to both Buyers and Sellers. Buying and Assembling 3. These include transportation, grading, standardization, storage, inventory control, branding, packing, labeling and so on. 53. It is a process of identification, classification and separation. 2. Price Fixing: Price of the product affects the success or failure of a product in the market. Uniformity is necessary for agricultural as well as manufactured products. 3 - Promotion and implementation of Integrated Scheme of Agricultural Marketing (ISAM). This is an opposite approach to an adaptation strategy, under which multinational companies differentiate their product and adapt it to fit the unique needs of countries. Answer in Brief Explain standardization. Branding 7. the extent to which a firm fulfills a customer's needs, desires and expectations. Merchant wholesalers. Customer Support Services 8. Some of the marketing functions/activities, which are very much relevant in the marketing of tangible goods, are irrelevant in service marketing. Marketing research is the function that links the consumer, customer, and public to the marketer through information—information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. D. nonprofit marketing. Sorting and grading facilitates production, packhouse operations and marketing when the quality grades used are recognized in a value chain or entire industry. View answer. 5. This will also help you to learn about the objective type (multiple choice) question and answers on Marketing that is most likely to be asked in SBI, IBPS, BANK PO and other banking exams. Grading is classification of goods in various groups based upon certain predetermined characteristics. 21, Marketing is the that open the doors of the economic growth of underdeveloped countries: (a) Process (b) Means (c) Key (d) Device . The first and most obvious benefit of process standardization is that it decreases the potential for ambiguity and guesswork.. Any complex task is likely to have some gray areas or edge cases. Storage or Warehousing. While consumers all around the United States may take for granted many popular brands such as Coca-Cola and . Standardization and grading: • Standardization = Process of setting certain standards for a . Essential functions of marketing are: 1. These challenges can be explained as follows: Increasing competition. It has following advantages to the marketers The European Commission recognises the positive effects of standards in areas such as trade, the creation of Single Market for products and services, and . Global standardization is the ability to use standard marketing internationally. (vi) Standardisation and Grading: Finally, promotion of standardisation and grading of agricultural products is the main function under institutionalised agricultural marketing. (a) Product Differentiation (C) Product protection. Describe standardisation and grading as marketing functions. 7 Functions of Marketing. 1.Concept of Marketing The activities performed by the marketers to facilitate exchange of goods and services between producers and users of such products are referred to as marketing activities. A __________ is a promotion strategy that calls for using the sales force and trade promotion to move the product through channels. Looking for and evaluating goods and services. Standardization plays an important role in marketing. D. Sorting products according to size and quality. The standardization and grading function of marketing involves: A. promoting goods and services. Gathering and Analyzing Market Information 2. These people . 7. Standardization marketing strategy is typically applied to discussion of global businesses and means to market a solution with uniform consistency throughout the marketing mix. Goods that cannot be produced of a single size, weight or colour such as fruits, grains, eggs or cotton are graded into classes on the basis of quality. (a) Grading (b) Packaging (c) Standardization (d) Branding Packaging is important not only for protection of the product but also serves as _____. bearing the uncertainties that are a part . It helps in achieving customers' loyalty towards the product. Selling 3. (a) Packaging (b) Labelling (c) Both (a) and (b) (d) None of the above. It is additionally bringing into conformity with a usual; make uniform. (d) Grading. Market sharing and price setting policies. the 4 Ps. In order to improve the marketability of products within and outside the country, an effective quality control mechanism is essential. 10)The standardization and grading function of marketing involves: A.promoting goods and services. Marketing functions: In modern marketing, the agricultural produce has to undergo a series of transfers or exchanges from one hand to another before it finally reaches the consumer. So there are a lot of activities in this process, which we call the functions of marketing. 51. Packaging and Labelling 6. Grading standards help to eliminate the human element in grading by providing an inflexible standard. Transportation 12. Large-volume buyers such as grocery stores, military institutions, restaurants, and even foreign governments use the quality grades as a common "language," making business transactions . farming population. C. micro-marketing. Improving the quality of life for consumers. You're not . Risk Taking 8. Risk Taking 8. Standardization & Grading 7 . B. Marketing Chapter 1 Terms. Standardization and Grading: Standardisation refers to the production of goods that meet predetermined specifications, which aids in the production of uniformity and consistency (e.g., ISI Mark). Providing necessary cash and credit. While consumers all around the United States may take for granted many popular brands such as Coca-Cola and . The trouble with this is that time spent on guesswork is time wasted.With a clear set of instructions to work from in order to complete a task, employees will spend less time trying to figure it out and . It helps in achieving uniformity and consistency in the output product. E. None of these answers is correct. (ii)Standardising and grading the product: Standardisation implies the production of goods with certain specific qualities such as durability,safety and utility so that a uniformity is maintained in the output.On the other hand,grading implies the classification of the product as per certain characteristics such as size and quality. As a result of changes in the rules of industrial licensing and entry of foreign firms, competition for . The USDA grade shields, official seals and labels are reputable symbols of the quality and integrity of American agricultural products. Standardization ensures that product offerings meet established quality and quantity. Product Designing and Development 4. Buying: The Buying activities of marketing are complementary to selling efforts. Product standardization refers to the process of maintaining uniformity and consistency among the different iterations of a particular good or service that are available in different markets.It is a process of marketing a good or service without making any changes to it. Arbitrary fixation of price by middlemen is eliminated. Policies aimed at coercing rivals. Transportation 4. Standardization and Grading 6. Financing 7. For example, if a company is basing its competitive advantage on high quality products and service, the most important marketing functions might be product development and close contacts with customers. In grading, diseased and defective specimens are not damaged due to diseased specimens' contact and thus get a high price in the market. Every business operates with the primary objective of earning profits, and the same . 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