Which of the following is NOT a purpose of gathering and analysing market information?
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Achieving uniformity and consistency in the output
Option (1) Achieving uniformity and consistency in the output — Not a purpose of gathering market information. This is the work of standardisation, a separate marketing function. Standardisation means producing goods of predetermined specifications, so that every unit of the output is alike.
Option (2) Identifying the needs of the customers — A purpose of gathering market information. Market information shows the firm what customers need, so that it can take sound marketing decisions.
Option (3) Analysing the available opportunities and threats — A purpose of gathering market information. The analysis brings out the opportunities and threats in the market, along with the firm’s own strengths and weaknesses.
Option (4) Deciding what opportunities can best be pursued by the firm — A purpose of gathering market information. After this analysis the firm chooses which opportunities to pursue, for example which growing market to enter or expand in.
NCERT (2026-27 Edition): “1. Gathering and Analysing Market Information: One of the important functions of a marketer is to gather and analyse market information. This is necessary to identify the needs of the customers and take various decisions for the successful marketing of the products and services. This is important for making an analysis of the available opportunities and threats as well as strengths and weaknesses of the organisation and help in deciding what opportunities can best be pursued by it. …” “4. Standardisation and Grading: Standardisation refers to producing goods of predetermined specifications, which helps in achieving uniformity and consistency in the output. Standardisation ensures the buyers that goods conform to the predetermined standards of quality, price and packaging and reduces the need for inspection, testing and evaluation of the products. …” |