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The process of marking involves creating …

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The process of marking involves creating a market offering and to satisfy the needs and wants of the present and potential buyers. The real question is how to create a market offering. Suppose, after gathering and analyzing market information, a profitable business opportunity is seen by some firm in the field of producing soft drinks. To develop and market a new brand of soft drinks, the firm takes a number of important decision, for example whether to go for any collaboration with a foreign manufactures of soft drinks; whether to produce for the local market or a for a wider market; what will be the features of the new products so that it is attractive to the target customer; whether the drink will be packed in glass bottles or plastic cans; what will be the name(brand name) of the drink; at what price it will be sold (at par with the price at which other competitive brands are sold or below it or above it ) and so on. (a) Identify and explain the two features of marketing discussed above. (b) Identify and explain any four functions of marketing discussed above.
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