The process of classification of products into different groups on the basis of their important characteristics refers to which of the following marketing functions?

Grading

The correct answer is Option (1) → Grading

"Grading is the process of classification of products into different groups, on the basis of some of its important characteristics such as quality, size, etc. Grading is particularly necessary for products which are not produced according to predetermined specifications, such as in the case of agricultural products, say wheat, oranges, etc. Grading ensures that goods belong to a particular quality and helps in realising higher prices for high quality output."