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Published on: 20/08/2019
Marketing
Download CBSE Class 12th Standard CBSE Business Studies question papers, sample papers, important questions, and previous year solved papers in PDF format. Get free study materials, NCERT solutions, and exam preparation resources for Class 12th Standard CBSE Business Studies
Questions + Answers key
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1.
One manufacturer of electronic product produces such products which need special care while using it. But the co. has not given the instructions to consumers. If you are the manager of that co. what steps you would take?
2.
Who is a Marketer
3.
What does the term 'need' mean in the marketing sense?
4.
State three things, Which are important in respect of exchange.
5.
'Exchange is the essence of marketing'. Comment.
6.
What do you mean by marketing?
7.
What do you mean by Physical distribution ? Explain its components.
8.
Suppose you are the manager in charge or advertising of an organisation manufacturing toys, which media would you recommend for advertising your product and why?
9.
What is Price Mix? Explain briefly the factors to which the marketers should pay attention before fixing the price of the Product?
10.
Explain any three functions of labelling.
11.
How does marketing manager react to a situation of reducing demand?
12.
How does 'marketing' help in satisfying wants of people?
13.
How does marketing help a firm to build its product image in the market?
14.
What do you mean by Product Mix? Explain its componets.
15.
What do you mean by Marketing Mix ? Explain its elements.
16.
What do you mean by Personal selling ? Explain the role of personal selling
17.
Distinguish between advertising and personal selling
18.
Mention/state the five philosophies, by which the marketing efforts be guided. Also differentiate between them on the following basis.
(i) Starting point.
(ii) Means.
(iii) Main focus.
(iv) Ends.
19.
What role does marketing play in the success of a firm?
20.
How can marketing help a firm to build its goodwill in the market?
1.
( )
i) Providing information for using the products
ii) Consumer awareness/educating the consumers
2.
( )
Seller
3.
( )
Need is the feeling of being deprived of something.
4.
( )
Three things which are important in respect of exchange are:
(i) Buyer
(ii) Seller
(iii) Money/Something of value for exchange.
5.
( )
Exchange is known as the essence of marketing as marketing focuses on satisfaction of customers' needs and wants, which is not possible without the exchange process.
6.
( )
According to Philip Kotler, marketing is a social process by which individual groups obtain what they need and want through creating offerings and freely exchanging products and services of value with others.
7.
Meaning : Physical distribution involves physical handling and movement of goods from place of production to the place of consumption.
1. Transportation : It is concerned with the physical handling and movement of goods from place of production to the place of consumption.
2. Inventory : Inventories need to be main tained because they ensure product availability as and when customers demand arise.
3. Warehousing : Production of goods continue through off the year but goods are not consumed immediately. therefore every company needs to store finished goods until they are sold in the market.
4. Order Processing : The order cycle involves steps like order placement to the salesperson, order entry in the company system, customer credit check, inventory and production scheduling. There is a direct connection between the processed and the customer satisfaction level.
8.
I would recommed T.V. advertising because of reasons.
1. Like by children : Children like to watch their programmes like cartoon, Phulwari Bachhon ki etc.
2. Catch quick attention : T.V. advertising will catch quick attention of the viewing children and leave a lasting impact on them
3. It combing right, sound and motion effects.
4. Its cover the wide range.
9.
1. Meaning : Pricing refers to the process of fixing the price of a product or service.
The term ‘Price’. refers to the exchange value of a product expressed in money. factors considered before fixing price are.
I Pricing objectives.
If a firm is operating in the competitive market and wants to introduce a more efficient substitute by a competitor, it may charge lower price for it.
To attain product quality leadership, a firm normally charges higher prices to cover high quality and high cost of Research and Development (R & D).
Thus, the price of a firm’s products and services is affected by the pricing objective of the firm.
2. Product cost : The second important factor to take care of while fixing the price is the product cost. Costs set the lower limits of the price. It is important that the price should recover total costs in the long run including a fair return for undertaking the marketing efforts and risk.
Two important types of costs need to be differentiated : fixed costs (e.g., rent of the premises, salaries of the permanent staff) and variable costs (e.g., cost of raw materials, direct labour costs, etc.)
The price must be able to recover the total cost in the long run. But sometimes in the short run, a product may be priced below the cost level in order to meet competitive challenges like making the entry of the rival difficult or out cutting the competitor.
3. Extent of competition in the market : Competition is another important consideration while pricing a product. When a firm does not face any competition, it can enjoy complete freedom in fixing its price.
But when there are competitors selling the same or similar products, the pricing freedom of the firm is considerably reduced. It price must fall in line with the competitors.
For example, Maruti’s Zen now faces a lot of competition from brands like Santro, Indica and Palio. Therefore, its pricing cannot be approached in isolation without considering the prices of other cars.
4. The utility and demand : The utility provided by the product an consumer’s demand set the upper limit of price, which he is willing to pa.
According to the law of demand, consumers buy more units of product at a lower price that at a higher price.
10.
Functions of labelling are:
(i) Describe the product and specify its contents
It specifies the contents and other features of the product. It enables the manufacturer to give clear instructions to the consumer about the proper use of his product. It helps to describe the product, its usage, cautions in use, contents, manufacturing and expiry dates, price, quantity, etc.
(ii) Identification of the product or brand
It gives a definite identity to the product or brand and therefore, the identification of product becomes easy. e.g. the name pears printed on toilet soaps helps us to know which soap out of several soaps is pears.
(iii) Grading of products
It enables the manufacturer to grade the product into different categories. e.g. Hindustan Lever sells different grades of tea under green, yellow and red labels.
11.
In case of reducing demand, the job of marketing manager would be to find ways to reduce price, either by reducing expenditure on promotion or implementing cost saving methods of production.
12.
Marketing attempts to satisfy wants of people by opting the following activities:
(i) Assessing needs and wants of people.
(ii) Planning and developing products and services, which can satisfy customer's needs and wants.
(iii) Supplying the required products and services.
(iv) Providing after sale service.
13.
By selling a product or service at a reasonable price and of a standard quality, the firm tries to earn a name for itself and build a position of its product in the market. Marketing, basically aims at building the reputation of the firm through various image building activities i.e. popularising products supported by advertising, reasonable price, high quality, convenient outlets, after sale service,etc.
14.
Product mixed deals with decision concerning veracity quality features, packaging, size, brand, guarant racing services to be offered in respect or the first product. comments of product mix
1. Branding : “Branding” can be defined as the process of using a name, sign, symbol or design to a product. Branding isnot only done to identify the seller or the maker, but also to create a distinct identity of the product from that of competitors.
Examples :
1. Some of the common brands are Bata, Lifebouy and Parker..
2. Asian paints, Safola and Uncle Chips are the brand names.
3. Gattu of Asian paints, Devil of Onida, etc., are some examples of brand marks.
2. Packaging : Packaging refers to the act of designing and producing the container or wrapper of a product.
The physical product that we usually buy comes in packaged form.
1 Soaps comes in paper boxes or plastic wrappers.
2 Biscuits come carton, papers or plain paper packaging.
3 Refrigerators or televisions come in hard wood and board cartons.
4 Expensive perfumes and liquor come in boxes and designer bottles.
Packaging plays an important role in determining customer attitude towards the product. Sometimes by looking at the packaging the customeries to assess the product quality. Good packaging often help in selling the product. Packing is, therefore, sometimes called a silent salesman
3. Labelling : A label is carrier of information which is to be provided to the customers, which describes the product, its contents, the manufacturer, date and time of manufacture, etc.
The label is to put on the package.
15.
Marketing refers to the tools or the variables which the marketer mixes in order to interact with a particular market.
“Marketing mix is the set of marketing tools that the firm uses to pursue its marketing objective is the target market”. Kotfer
Product Mix : When a firm becomes amulti-product company, the total number of products and items it offers to the market is called product mix or product assortment. Product mix of ITC consists of product lines like hotels (Welcome group), cigarettes (Wills, India Kings), readymade garments (Will Sport) and grocery line (Aashirvaad).
Components of Product Mix are :
Branding
Packaging
Labelling
Price mix : Price is the value which a buyer passes on to the seller in lieu of the product or service provided. The marketing manager should determine the price in such a way that the firm is able to sell its products successfully.
Main factors that must be taken into consideration while fixing theprice are :
Company objectives
Costs
Competition
Customer demand
Promotion mix : It deals with informing the customers about the firm’s product and persuading them to purchase the same.
Elements or components of promotion mix are :
Personal selling
Advertising
Publicity
Sales promotion.
Place mix/Physical distribution mix : The two major decision areas under this function include
(i) decision regarding channels of distribution or the marketing intermediaries (like wholesalers, retailers) to be used and
(ii) Physical movement of the product from the producer to consumers. It also involves decisions regarding storage and transportation, managing inventory (levels of stock of goods), etc.
16.
Meaning :— It involves face to face interaction between the sellar and the prospective buyers sales person as certain customers needs, identifies right product, communicates product features benefits and help him buy the product.
I. Importance to Businessman
1. Consumer attention : When seller does the talking, the buyer cannot be totally aloof to what is being communicated. the buyer has to listen and pay attention.
2. Lasting relationship : Personal selling allows a salesperson to develop personal relationships with the prospective customers, which may personal relationships with the prospective customers, which may become important in making sales
3. Role in introduction stage : Personal selling plays very important role in the introduction stage of a new product as it helps in persuading customers about the merits of the product.
II. Importance of Customers : The role of personal selling becomes more important for the illiterate the rural customers who do not have many other means of getting product information.
1. Helps in improving standards of living of customers by inducing them to purchase new products that satisfy their needs in a better way.
2. Consumer get latest market information : regarding price changes, product availability and new product introduction, which help them in taking the purchase decisions in a better way.
3. Helps the customers in identifying their need and wants and in knowing how these can best be satisfied.
4. Customers get expert advice in purchasing various goods and services.
III. Importance of Society
1. Converts latent demand into effective demand, leading to more products and services and hence economic growth of the nation.
2. Employment opportunities : Personal selling provides attractive career with greater opportunities to the unemployed youth.
3. Career opportunities : Personal selling provides attractive career with greater opportunities for advancement and job satisfaction as well as security, respect and independence to young men and women.
4. Mobility of sales people : There is a greater degree of mobility in sales people, which promotes travel and tourism in the country.
5. Product standardization : Personal selling increase product standardization and uniformity in consumption pattern in advisers society.
17.
Difference between advertising and personal selling
| Basis | Advertising | Personal selling |
|---|---|---|
| Form | It is an impersonal form of communication. | It is a personal form of communication. |
| Reach | It reaches masses, i.e. a large number of people can be approached at the same time. | Only a limited number of people can be contacted. |
| Cost | In advertising, the cost per person of reaching is very low. | In this case, the cost per person is very high. |
| Flexibility | It is inflexible as the message delivered cannot be adjusted to the buyer's need. | It is flexible as the sales presentation can be adjusted to fit customer's needs. |
| Time | It can cover wide market in short time. | It takes a lot of time to cover the entire market |
18.
Marketing philosophies are:
(i) Production concept.
(ii) Product concept.
(iii) Selling concept.
(iv) Marketing concept.
(v) Societal marketing concept.
Difference between different marketing philosophies
| Basis | Production concept | Product concept | Sales/Selling concept | Marketing concept | Societal marketing concept |
| Starting point | Factory. | Factory. | Factory. | Market. | Market, society |
| Main focus | Quantity of product. | Quantity, performance and features of product. | Exsisting product. | Customer needs | Customer needs and society's well being. |
| Means | Availability and affordability of product | Product improvements. | Selling and promoting. | Integrated marketing. | Integrated marketing. |
| Ends | Profit through volume of production. | Profit through product quality. | Profit through sales volume. | Profit through satisfaction. | Profit through customer satisfaction and social welfare. |
19.
1. Role of marketing in a firm : It help in identifying and analyzing the needs of customers and design the prodcing accordingly.
2. Role of Marketing is an economy : People are inspired to set up enterprises for producing goods to fulfill the needs of the customers due to marketing.
20.
Marketing is consumer oriented, it helps a firm to build goodwill in the market over period of time. By selling quality goods at reasonable price, the firm tries to earn its name in the market. Only useful goods and services and produced and sold. Basically marketing aims to building the reputation of firm through various image-building activity i.e, advertising, reasonable price, better quality etc.
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