Commerce Exam > Commerce Notes > Marketing Function and Marketing Mix - Enterprise Marketing, Entrepreneurship, Class 12
Marketing Function and Marketing Mix - Enterprise Marketing, Entrepreneurship, Class 12 - Commerce PDF Download
• Fundamental goal of business is to make profit.
• Goal setting is defined as “establishing short or long term objectives, usually incorporating deadlines and quantifiable measures.”
• SMART Goals :
(a) Specific,
(b) Measurable,
(c) Attainable,
(d) Relevant,
(e) Time Based.
• Marketing Mix is a combination of four elements viz, product, distribution, price and promotion.
• Marketing Mix refers to the ingredients or the tools or the variables which the marketer mixes in order to interact with a particular market.
• Packaging is the process of designing and producing a container for the product. It prevents the degradation of the product due to weather, climate, environment pollution, insects, damage from handling and loss due to accidents.
• Branding is a process of giving a name, sign or a symbol referring to the product to distinguish it from products of similar nature.
• Pricing is a crucial function of the entrepreneur. Pricing is a process of fixing a monetary value to the product or service against the utility or the experience of the product or the service.
• Promotion includes advertisement, creating awareness about the product among the consumers, educating customers about the use of the product, etc.
• Various elements of Marketing Mix are interdependent.
• Product is any good or service offered for sale by an enterprise.
• Components of Product Mix are Branding, Labelling and Packaging.
• Choice of Product Mix is affected by the factors like profit, efficiency of the enterprise, better customer service, potential to utilize the available know-how, cost reduction, etc.
• Branding is yet another important component of the Marketing Mix. Branding provides an image and status for the product.
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Oct 12, 2025
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