1. Standardisation and Grading :
Standardisation refers to producing goods of predetermined standard, which helps in achieving uniformity and consistency in the output. Grading ensures that goods belong to a particular quality and it helps in realising higher prices for high quality output.
2. Market Classification :
To classify the groups on the basis of features like wants, needs, interests, etc. according to sub-markets, is known as market classification, and the marketers focus on these target markets.
3. Branding :
Branding means providing a specific name to a product, in order to make the product distinguished from other similar products. Brand name helps in creating product differentiation from those of the competitor’s product.
