Arrange the following functions of marketing in the correct sequence.

A. Gathering and analysing market information
B. Product designing and development
C. Packaging and Labelling
D. Promotion
E. Pricing

Choose the correct answer from the options given below:

A, B, C, E, D

The correct answer is option 4- A, B, C, E, D.

Marketing is concerned with exchange of goods and services from producers to consumers or users in such a way that maximises the satisfaction of customers’ needs. From the view point of management function, a number of activities are involved. The correct sequence of the given steps is as follows-

A. 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.

B. Product designing & Development: Another important marketing activity or decision area relates to product designing and development. The design of the product contributes to making the product attractive to the target customers. A good design can improve performance of a product and also give it a competitive advantage in the market.

C. Packaging and Labelling: Packaging refers to designing and developing the package for the products. Labelling refers to designing and developing the label to be put on the package. The label may vary from a simple tag to complex graphics. Packaging and labelling have become so important in modern day marketing that these are considered as the pillars of marketing.

E. Pricing of Product: Price of product refers to the amount of money customers have to pay to obtain a product. Price is an important factor affecting the success or failure of a product in the market. The demand for a product or service is related to its price. Generally lower the price, higher would be the demand for the product and vice-versa.

D. Promotion: Promotion of products and services involves informing the customers about the firm’s product, its features, etc., and persuading them to purchase these products. The four important methods of promotion include advertising, Personal Selling, Publicity and Sales Promotion.