L-18-
BASICS OF MARKETING AND MARKETING MIX
A.
One Word OR One line Questions
Q. 1. Explain the term
market.
Ans. 'Market' refers to any such
place where buyers and sellers of goods and services exchange goods and
services.
Q. 2. Who is called customer?
Ans. Any such person, group of
persons or organisation which purchases goods for the satisfaction of its
wants, is known as customer.
Q. 3. Who is marketer or seller?
Ans. Any such person or organisation
which sells goods and services is known as seller.
Q. 4. Name important
functions of marketing.
Ans. Marketing research, marketing
planning, grading, branding, packaging and labelling, pricing, promotion,
storage etc.
Q. 5. What is product?
Ans. Product refers to any such thing
which has a value for the purchaser and hence which can be marketed.
Q. 6. What is the focus of
marketing concept?
Ans. The focus of marketing concept
is on satisfaction of the needs of the customer.
Q. 7. What do you mean by marketing?
Ans. Marketing is such a social
process under which some persons encourage others to purchase a specific good
or service.
Q. 8. What is price?
Ans. Price of a product refers to its
exchange value expressed in terms of money.
Q. 9. What is Marketing Mix?
Ans. Marketing mix refers to all
those marketing tools which are used by a firm to achieve its marketing
objectives.
B.
Fill in the Blanks
1. The concept of Marketing is wider
than the concept selling.
2. Selling is product oriented while
marketing is Customer oriented.
3. According to Philip Kotler, the
number of units that can be marketed is Ten.
4. The process of planning, organising and directing etc. of marketing
activities is known as Marketing management.
5.
Liberalisation is the process of classifying various products in
specific categories.
C.
True or False Statements
1. The main objective of marketing is
to maximise the profits of a business enterprise. False
2. Marketing is not an exchange
transaction between buyer and seller. False
3. Selling is concerned with exchange
of goods on the basis of money. True
4. Transportation creates place
utility. True
5. Marketing continues even after the
sale of the product. True
D.
MCQ
1. Which concept of
marketing laid emphasis on availability and affordability of the product?
(a) Production concept (b) Product
concept
(c) Sales concept (d)
All the above.
Ans. (a) Production concept
2. Which of the following
is not an element of promotion mix?
(a) Sales promotion (b) Physical distribution
(c) Personal selling (d) Publicity.
Ans. (b) Physical distribution
3. Which one of the
following is not an element of marketing mix?
(a) Product (b)
Promotion
(c) Protection of Consumer (d) Price.
Ans. (c) Protection of Consumer
4. Marketing and selling are:
(a) Same concepts (b) Different
concepts
(c) Opposite concepts (d) None of these.
Ans. (b) Different concepts
5. Which marketing concept
gives importance to attract and to promote customers to buy the products?
(a) Marketing concept (b)
Product concept
(c) Selling concept (d)
Service concept.
Ans. (c) Selling concept
Two
Marks Questions:
Q. 1. Define market.
Ans. 'Market' refers to any such
place where buyers and sellers of goods and services exchange goods and
services.
Q. 2. Who is a marketer or
seller?
Ans. Any such person or organisation
which sells goods and services, is known as seller. Seller makes available
goods and services to the customers and hence he tries to earn profit through
the fulfillment of the needs of the customers. Some sellers sell goods, such as
sale of TVs by Sony Company. On the other hand, some sellers sell services,
such as delivery of banking services by the banks.
Q. 3. Who is a customer?
Ans. Any such person, group of
persons or organisation which purchases goods for the satisfaction of its
wants, is known as customer. Marketing is not possible without customer. The
fulfillment of the needs of customer and his satisfaction are the key objectives
of marketing. A customer purchases goods and services on the basis of his
needs, preferences and purchasing power etc.
Q. 4. "Selling is a
part of marketing". Comment.
Ans. Selling refers to the exchange
of goods and services on the basis of money or any other thing equal in value
to money. On the other hand, marketing is concerned with all the activities
starting from planning of the product before its production till the after-sale
services provided after the sale of the product. Generally, marketing and
selling are taken to be same concepts. But, these two concepts have several
points of difference. Marketing is a broad concept, while the concept of
selling is a part of it. In fact, selling is also an activity or function
performed during the process of marketing.
Four
Marks Questions:
Q. 1. Write any four
advantages of marketing.
Ans. 1. Helpful in Widening the Market: Marketing helps
in the sale of new products and the search of new markets. As a result, there
is increase in demand and market expands.
2.
Helpful in Optimum Utilization of Resources: Demand and supply
increase due to marketing. Hence, production has also to be increased. This can
be done through optimum utilization of resources only.
3.
Helpful in Value Addition: The process of marketing helps in
the optimum allocation of goods and services. As a result, there is addition in
the value of goods and services.
4.
Improvement in the Standard of Living: Under the process of
marketing, better quality products are made available to the customers at fair
prices. Hence, the process of marketing helps in the improvement of standard of
living of the people
Q. 2. "Marketing is
the creation and delivery of a standard of living". Comment.
Ans. According to modern view point,
marketing is a social process. Its main objective is to provide high quality
service to the society. By keeping in mind this objective, various activities
are run under the process of marketing in such a way that the objective of
maximum social welfare may be achieved. Under the process of marketing, better
quality products are made available to the customers at fair prices. While
doing so; needs, preferences and satisfaction of the customer are also kept in
mind. Hence, the process of marketing helps in the improvement of standard of
living of the people. That is why Paul Mazur has said, "Marketing is the
creation and delivery of a standard of living to society."
Q. 3. Write any four
objectives of marketing.
Ans. 1. Creation of Demand: The first objective of
marketing is creation of demand for the product. In order to do so, product is
produced in accordance with the needs and preferences of the customer.
2.
To Capture Market Share: It is also an objective of marketing
to capture a definite part of the total market for the product.
3.
To Create Goodwill: Another objective of marketing is to
create better goodwill for the enterprise. Better goodwill has several benefits
for the enterprise.
4.
Customer Satisfaction: It is also an objective of
marketing. In order to do so, the production of goods and services is done in
accordance with the needs and preferences of the customers.
Q. 4. Write any four
functions of marketing.
Ans. 1. Marketing Research: Marketing research refers
to collection and analysis of the information related to market. In order to do
so, detailed information is collected about the needs and preferences of the
customers. Then, various decisions about the product to be produced are made.
2.
Marketing Planning: Marketing planning is second
important function of marketing. Under it, detailed plans about marketing are
formulated. Programmes needed to implement these plans are also framed and
hence efforts are made for the achievement of objectives of marketing.
3.
Product Planning: A customer can get maximum
satisfaction only when products are produced in accordance with his needs and
preferences. It is with this purpose that product planning is done under
marketing.
4.
Standardisation: Standardisation refers to the
determination of specific standards about the product to be produced. This
helps to ensure uniformity in various units of the product to be produced.
Standardisation is also an important function of marketing.
Q. 5. Write any four
differences between selling and marketing.
Ans.
|
Marketing |
Selling |
|
Its focus is on needs and interests
of the customers It gives importance to the
satisfaction of the wants of the customers. So, it is customer oriented. It includes all the activities
concerned with the satisfaction of wants of the customers. According to this concept, customer
determines price and cost. |
Its focus is on the maximum sale of
the product. It gives importance to the maximum
sale of the available products. So, it is product oriented. It is concerned with the transfer
of goods and services from sellers to customers. According to this concept, cost
determines price. |
