Marketing Mix, Product Mix & Price Mix

1 Mark Questions

1. State the meaning of product identification function of packaging. (All India 2013)

Ans. In recent years due to increasing competition and growing use of open display and self-service of goods, the need of packaging has arisen. It helps in identifying the product by indicating its nature and content, e.g. a customer can easily identify Ponds cream with its unique jar.

2. What is the advantage of registering trademark? (All India 2013)

Ans. The firm which got its brand registered, gets the exclusive right for its use. In that case, no other firm can use such name or mark in the country.

3 Mark Questions

1. 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. Increased demand the company employed children from nearby villages. Although the products were in great demand, appropriate safety warnings for use were not mentioned on the labels, which led to many accidents.

Ans. (i) Identify and explain the important product related decision that was not taken into consideration by the company.

1. Also, state any two values which were violated by the company. (Compartment

2014) (/') An important product-related decision not taken into consideration by the company is labelling'. It refers to designing and developing the label to be put on the package. A label is a carrier of information. It may be a simple tag or a complex graphic stating the contents, price, quantity, expiry date etc of the product.

1. The two values ignored by the company are:
2. Child labour and their exploitation.
3. Consumer protection and safeguarding their interest.
4. Though branding adds to the cost, it provides several advantages to the consumers'. In the light of the statement, state any three advantages of branding to customers. (Delhi 2013)

Ans. The three advantages of branding to customers are as follows:

1. Product identification Branding helps the customers in identifying the product, e.g. a customer, who is satisfied with 'Lux' soap need not buy any other product. Thus, branding facilitates repetitive purchase and reduces the time and efforts involved therein.
2. Ensures quality Branding ensures a specific level of quality to customers. This builds

up confidence of customers and increases their level of satisfaction. Branded products are well packed to prevent adulteration.

1. Status symbol Some brands become status symbols due to their quality. The

consumers of these brands feel proud and enjoy status by using them.

5. Packaging has acquired great significance in the marketing of goods. In the light of

this statement, state any three functions of packaging. (Delhi 2013) or

Explain any three functions of packaging. (Delhi 2008)

Ans. Packaging refers to the act of designing and producing the container or wrapper of a product. The three main functions of packaging are as follows: (Any three)

1. Product identification Packaging helps a product to be easily identified by the customer, e.g. Maggi noodles in yellow colour, Lays in blue, green and red colour can be identified easily.
2. Product protection Packaging protects the contents of a product from spoilage, breakage, leakage, damage, etc. e.g. air tight containers and packets are used for biscuits, tea, etc.

1. Product promotion Packaging promotes the sales of the product. Package is the

buyer's first encounter with the product and is capable in turning the buyer on or off. The colourful attractive packing of the product attracts the customers to buy it e.g. Ferrero Rocher chocolates, Calcium Sandoz, etc.

1. Facilitating use of product The size and shape of the package should be such that it

should be convenient to open, handle and use for the consumers, e.g. toothpastes, face wash, etc.

6. Explain any three elements of marketing mix. (Delhi 2010,2008C)

Ans. Marketing mix refers to the combination of four basic elements known as four P's- product, price, promotion and physical distribution. The various components of marketing mix are: (Any three)

1. Product mix The product mix refers to important decisions related to the products.

Product mix involves product planning and development. Decisions are to be taken regarding product, range, quality, size, features, packaging, after sale services, branding, warranties etc. Production must satisfy consumer needs and expectations. These decisions play an important role in attracting the customers to the product.

1. Price mix It refers to important decisions related to price levels, pricing strategy and price policies of an organisation.

Price is the money paid by a buyer (or received by a seller) in consideration of the