Q.What is meant by Grading ?

Grading is the marketing function of sorting products into recognised grades or classes according to agreed quality standards, so that similar-quality goods carry the same grade and price. In the study of the marketer's functions, standardisation and grading go together. Standardisation fixes the quality norms; grading applies them. - Meaning: Grading is the process of dividing goods into different lots or groups, each having similar quality characteristics such as size, weight, colour, flavour, purity or moisture content. - Purpose: It ensures that a buyer who asks for a particular grade always receives goods of that same quality, which builds trust and makes buying and selling easier. - Application: It is especially important for agricultural and natural products (wheat, rice, cotton, eggs, fruits) whose quality naturally varies. In India, AGMARK grades farm produce. - Benefit: Graded goods command better and fairer prices, reduce the need for physical inspection, and simplify pricing …