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Functions of Marketing Video Lecture | Business Studies (BST) Class 12 - Commerce

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FAQs on Functions of Marketing Video Lecture - Business Studies (BST) Class 12 - Commerce

1. What are the key functions of marketing commerce?
Ans. The key functions of marketing commerce include market research, product development, pricing, promotion, and distribution. Market research helps businesses understand customer needs and preferences. Product development involves designing and creating new products that meet those needs. Pricing involves determining the best price for the product. Promotion refers to marketing activities aimed at creating awareness and generating demand for the product. Distribution involves getting the product to the customers through various channels.
2. How does market research contribute to marketing commerce?
Ans. Market research plays a crucial role in marketing commerce. It helps businesses gather information about their target market, including customer preferences, needs, and purchasing behavior. This information is then used to develop effective marketing strategies and make informed business decisions. Market research enables businesses to identify market trends, evaluate competition, and identify new opportunities for growth. By understanding their customers better, businesses can tailor their products and marketing messages to meet customer needs, resulting in increased sales and customer satisfaction.
3. What is the role of pricing in marketing commerce?
Ans. Pricing is an essential function in marketing commerce. It involves determining the optimal price for a product or service. Pricing decisions have a significant impact on a company's profitability and competitiveness. Pricing strategies can vary, including cost-based pricing, competition-based pricing, value-based pricing, or dynamic pricing. Effective pricing strategies consider factors such as production costs, demand, competition, and customer perceptions of value. The right pricing strategy can help a business attract customers, maximize revenue, and achieve a competitive advantage in the market.
4. How does promotion contribute to the success of marketing commerce?
Ans. Promotion plays a vital role in the success of marketing commerce. It involves various marketing activities aimed at creating awareness, generating interest, and persuading customers to purchase a product or service. Effective promotion strategies can increase brand awareness, build customer loyalty, and drive sales. Promotion methods can include advertising, public relations, sales promotions, direct marketing, and digital marketing. By effectively promoting their products, businesses can reach their target audience, differentiate themselves from competitors, and ultimately increase their market share and profitability.
5. Why is distribution important in marketing commerce?
Ans. Distribution is a critical function in marketing commerce as it involves getting the product from the manufacturer to the end consumer. An efficient distribution system ensures that products are available to customers when and where they want them. It involves activities such as warehousing, transportation, inventory management, and order fulfillment. A well-designed distribution strategy can help businesses reach a wider customer base, reduce costs, improve customer satisfaction, and gain a competitive advantage. Effective distribution ensures that products are delivered in a timely manner, allowing businesses to meet customer demand and maintain a strong market position.
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