question_answer

As a project work in marketing management, the MBA students of IIM thought of preparing apple jam from the apples grown in their school premises and sell it in the school annual fete. They approached the principal who not only appreciated them but also gave his consent for the same. The school decided to donate 50% of the revenue generated from the sale to a nearby orphanage. After the school fete, the school also decided to extend this project by providing employment to visually challenged and disadvantaged sections of society on regular basis.

(i) Explain any two product-related decisions which the students had to take.

(ii) Suggest any two functions that the 'label' of the jam bottle must perform.

Answer:

(i) The two product related decisions which the students had to take are: [a] Branding A brand is a name, term, sign, symbol, design or some combination of them used to identify the products and differentiate it from that of its competitors. Thus, branding is the process of assigning a distinctive name or symbol to a product, by which it can be remembered. [b] Packaging It refers to the act of designing and producing the container or wrapper of a product. Various kinds of goods are placed into appropriate containers for protection and convenient handling. Thus, packaging implies placing products in suitable packages for delivery of the product to customer or for the purpose of storage and transport. (ii) The two important functions that the label of the jam bottle must perform, are as follows: [a] To describe the product and specify its contents. [b] To help in identification of the product or brand.