Explain ‘Market Planning’ and ‘Product Designing and Development’ as functions of Marketing.

Market Planning: After collecting and analysing the market information, the next function of marketing is to develop appropriate marketing plans so that marketing objectives can be achieved. It involves making plans for increasing the production level, plans for promotion of products, etc. It also specifies the action programmes that are needed to achieve these objectives.

Product Designing and Development: A product can be successfully marketed only when it satisfies the desires and needs of the consumers. The next function of marketing is the product designing and development. It involves taking decisions regarding features, design, shape, size, appearance, etc. of the product. Design of a product makes the product more attractive and provides a competitive advantage in the market. For example Swift car is very popular due to its unique design.

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