Read the following case study and answer question.

Nisha, Saurabh and Adarsh were friends from college days and now they are doing different kinds of Business. Nisha has started a footwear manufacturing company and has decided to identify the needs of the customers to start successful marketing of the footwears produced by her company and for this the company is doing SWOT (strength, weakness, opportunity and Threat) Analysis.

Saurabh is a distributor of tea. He has opened a distribution agency which deals in tea selling. He has categorised the tea to be sold into three different categories- Red, Yellow and Green.

Adarsh started a Refrigeration manufacturing company and currently is spending substantial amount of money to persuade the target customers to buy its refrigerators through advertisements, personal selling and sales promotion techniques. They regularly meet and discuss their business ideas and exchange notes on customer satisfaction, marketing efforts and social concerns too. In one of such meetings, Adarsh told Nisha and Saurabh that his competitor, with an established Brand name has launched new product with the same name. This has helped his competitor in saving a lot of expenses on building reputation and giving an excellent start to the product. The new product is doing amazingly well and has caught attention of the media. Since the product is enjoying a lot of reputation, the customers are ready to pay high prices for it, in comparison to the same product launched by Adarsh's company.

"Nisha has started a footwear manufacturing company and has decided to identify the needs of the customers to start successful marketing of the footwears produced by her company and for this the company is doing (SWOT) Analysis." Which function of Marketing is highlighted in this line?

Gathering and Analysing Market Information

The correct answer is Option (3) → Gathering and Analysing Market Information

The highlighted function of marketing in the line is Gathering and Analyzing Market Information. The company is conducting a SWOT analysis, which involves assessing the strengths, weaknesses, opportunities, and threats in the market. This process requires gathering and analyzing information about customer needs, market trends, and the competitive landscape to make informed marketing decisions.