The compilation of these Marketing Notes makes students exam preparation simpler and organised.
Labelling
How do you recognize certain brands and products? It is due to their specific labelling, their logo, and design. The distinct label of a product is one of its most identifiable features. Let us learn about its importance.
Introduction to Labelling
Labelling is the display of labels in a product. A label contains information about a product on its container, packaging, or the product itself. It also has warnings in it. For e.g. in some products, it is written that the products contain traces of nuts and shouldn’t be consumed by a person who’s allergic to nuts. The type and extent of information that must be imparted by a label are governed by the relevant safety and shipping laws.
Labeling is also an important part of the brand of the product and the company. It helps the product stand out in the market, and identifies it as a part of a particular brand. This is important in the era of high and intense competition.
Importance of Labelling
Labelling is an important part of the marketing of a product. Labelling is essential as it helps to grab the attention of a customer It can be combined with packaging and can be used by marketers to encourage potential buyers to purchase the product. Packaging is also used for convenience and information transmission. Packages and labels communicate how to use, transport, recycle or dispose of the package or product.
Labelling is also used to exaggerate the product. Also, it is used for identification. This kind of labeling helps a viewer to differentiate the product from the rest in the shelves of the market. A person can find out about the ingredients of a product. This helps to spread awareness among the customers about the item they are consuming and labeling also helps to mention ingredients.
Labeling is another very important factor in a product. It should show the correct information about the product. This is all the more important in products such as pharmaceuticals. Labeling should also contain information relating to whether the product has harmful chemicals, especially if it is a product that is meant for children.
Examples:
Question 1.
A method for achieving the maximum market response from limited marketing resources by reorganizing differences in the response characteristics of various parts of the market is known as _______
a. market targeting
b. market positioning
c. a market segmentation
d. market strategy
Answer:
The correct answer is the option ”c”. Market segmentation is a method for achieving the maximum market response from limited marketing resources by reorganizing differences in the response characteristics of various parts of the market.
Question 2.
Consider the following statements and find out the correct alternative from the codes given below.
(i) A good salesman is one who can sell a refrigerator to an Eskimo.
(ii) Salesmen are born, not made.
(iii) Physical distribution is an area where high cost-savings is possible.
a. (i) and (iii) is correct
b. (i) and (ii) is correct
c. (ii) and (iii) are correct
d. All of the above
Answer:
The correct answer is the option “a”.
A good salesman is one who can sell a refrigerator to an Eskimo. Physical distribution is an area where high-cost savings is possible. However, salesmen are not born but made.