Question Set D

cbse 12th Standard Business Studies Marketing Important Questions And Answers Study Material - QB365

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Questions:

What do you mean by marketing?

'Exchange is the essence of marketing'. Comment.

Who is a customer?

Define the term market in traditional sense.

State one example of exchange of goods where buyer is a marketer?

'They don't sell, but they induce customers to make sales'. Identify the concept stated in the statement.

What does the term 'need' mean in the marketing sense?

State any two examples of services that can be marketed.

Why is marketing called a social process?

10.

'Prima', a domestic appliance manufacturer is a giant in its field. It could achieve this by taking advantage of huge and inexpensive labour pool.

It has achieved production efficiency and thus could lower the costs. It focuses on mass production. Which marketing philosophy is 'prima' using.

11.

Marketing Mix consist of

12.

What do you under stand by convenience goods?

13.

What do you understand by shopping goods?

14.

What kind of ‘Market offer’ is judge good?

15.

Some product have certain unique Features. They after significant groups of buyers. Identify the kind of Product.

16.

Why is Packaging is called a silent salesman?

17.

Name the function which inform the consumer about the product

18.

It refers to the use of communication with the twin objective of informing Potetial customers about a Product and persuading them to buy it. Name it.

19.

It is one of the elements of market mix which contains one of the most important decisions that a marketer has to take to promote sales. This decision was taken by Mr. Mukund, Marketing manager of Intel Ltd. which facilitated the customers in product identification and hence ensured quality. It also built up their confidence and help in increasing their level of satisfaction. Apart from this, they provide educational
scholarships for poor children in the society. Identify the element of marketing mix.
Name any two values being emphasised by ensuring quality products for customers and by running an orphanage home.

20.

Mr. David, working as Sales executive in Mahalaxmi Ltd. possesses good marketing techniques. His techniques involve oral presentation of message in the form of conversation with prospective customers for the purpose of making sales.
Name the promotional tool used by Mr. David. Identify the values which can be inculcated by using the technique in the above case.

21.

'Find wants and fill them', 'create products and sell them' are the two important concepts of marketing management. Identify them and differentiate between them, on three basis.

22.

Nisha, a school bag manufacturer, decided to improve the product for profit maximisation and thus, added a water bottle holder to the existing design.
(i) Identify the marketing management philosophy adopted by Nisha.
(ii) Explain this philosophy on the basis of
(i) Main focus.
(ii) Means and ends.

23.

Promotion is dual-oriented. How?

24.

Cracker Ltd, a fire cracker manufacturing company launched some new products on eve of Diwali which cracked many buyers. To meet the increased demand, the company employed children from nearby villages. Although the product was in great demand, appropriate safety warnings for use were not mentioned on the packets that led to many accidents.
(i) Identify and explain the important product related decision that was not taken into consideration by the company.
(ii) Also, identify any two values which were violated by the company.

25.

A tea producer uses such packets/things for packing tea, which can be used even after consuming the tea inside for other purposes. In this which values are being affected by him?

26.

A company uses same promotional schemes like buy one get one free, free samples, free gifts and so on to boost the sales of its products and to earn higher profits. This results in unnecessary hike in the prices of the products. In your opinion, is this policy in the interest of society

27.

Identify the method of sales promotion in the following cases:
(i) A mobile company offers a discount of Rs.1000 to clear off inventory.
(ii) A customer gets RS.5 off on return of an empty wrapper while making a new purchase of the same product.
(iii) A company offers a pack of 1/2 kg of sugar with the purchase of 5kg bag of wheat flour.
(iv) Scratch a card and get a gold coin with the purchase of a cold drink.
(v) A company offers 40% extra shaving cream in a pack of 500 gms.
(vi) Purchase goods worth RS.50000 and get a holiday package worth RS.10000 free.

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Answers Key:

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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.

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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.

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Customer refers to the person or organisation that seeks satisfaction of his needs and wants. A customer is also known as the seeker of satisfaction.

()
In modern marketing sense, 'market' refers toa set of actual and potential buyers of a product or service.

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In the situation of rare supply, where buyer may be taking extra efforts in persuading the seller to sell his product, he may be considered as a ,marketer.

()
Marketing

()
Need is the feeling of being deprived of something.

()
Two examples of services that can be marketed are:
(i) Insurance
(ii) Business process outsourcing.

()
Marketing is social process, because people interact with others in order to persuade them to act in a particular way, say to purchase a product or a service, rather than forcing them to do so.

10.

()
Production concept/Production philosophy

11.

()
Product, Prize, Place and promotion

12.

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Ans. Convenience goods are those goods which are most commonly and frequent by purchased by the consumers with least amount of efforts e.q. slat, sugar, soap, tea, Rice, etc.

13.

()
When buyers devote considerable time to compare Price, Quality, durability and style in a number of stores before purchasing.

14.

()
A good market offer is one which is developed after analyzing the needs and preferences of the potential buyers.

15.

()
Such Product are known as ‘Speciality Products’

16.

()
Packaging is called a silent salesman because attractive packing en courages people to buy a Product just like a salesman.

17.

()
Promotion

18.

()
Promotion

19.

()
Respect, Humanity, Social responsibility

20.

()
Confidence ,Customer Relations, Creating goodwill

21.

The two concepts are 'marketing and selling'.
Difference between selling and marketing

Basis	Selling	Marketing
Concept	Create products and sell them.	Find wants and fill them.
Scope	It has a limited scope. It is concerned with transfer of ownership of goods from the sellers to the buyers through promotion and salesmanship. Thus, it is just a part of marketing.	It has a wider scope. It is concerned with identifying customer's needs, developing the product, pricing, selling, and providing after sales services to satisfy the customers.
Focus	It focuses on transferring the title and ownership of goods from seller to the buyer.	It focuses on maximum satisfaction of customer's needs and wants.
Aim	It aims at maximising the profit by increasing sales.	It aims increasing profit by satisfying the consumers.

22.

(i) Nisha adopted the product concept. With the increase in the supply of goods, customers started looking for products which are high quality.
Thus, the firm in this concept emphasises on quality or adds some extra features in the product.
(ii) (a) Main focus of the product concept is on quality, performance and features of product.
(b) Product improvement is the means and profit maximisation through product quality is the end.

23.

Promotion refers to the process of informing the customers about the product and then persuading them to buy it. The popular methods of promotion are advertising, sales promotion, personal selling and public relations.

All marketer uses the promotion mix i.e. combination of promotional tools according to their budget, nature of customers, nature of product, coverage, cost, etc. thus, it is dual oriented, as it involves information on one hand and persuasion on the other.

24.

(i) The important product related decision not considered by the company is 'labelling'. As per the law, it is mandatory to give warnings and precautions for use on the label of the product, which is not done in this case.
(ii) Two values overlooked by the company are:
(a) Consumer protection.
(b) Child labour and exploitation.

25.

i) optimum utilization of resources
ii) Environment protection
iii) Increasing the cost by using boxes/containers

26.

i) Not in the interest of society, unnecessary increase in cost.
ii) Increasing extravagancy
iii) Increasing sales volume
iv) Achieving the objectives of the business.

27.

(i) Rebate
When the products are offered at special, reduced prices, usually to clear off excess inventory, it is called rebate. e.g.
RS.20000/- off on the purchase of Honda City till 25th December, 2014.
(ii) Refunds
It refers to the act of refund of a part of price paid by customer on return of empty wrappers or presenting a proof of purchase of product.
(iii) Product combinations
Offering a product along with another product is called product combination. e.g. buy a cell phone and get a sim card free, buy Maggie ketchup and get Maggie Noodles free, etc.
(iv) Instant draws
It is a technique in which the buyer is given a chance to 'scratch a card' or 'instantly draw a coupon' to win an assured gift immediately.
(v) Quantity gift
Sellers devise special packages, which gives extra quantity of the product to the buyers at less price or price, e.g. 'Buy two get one free' available offer on pears soap, 30% extra on dettol liquid soap, etc.
(vi) Usable benefit
It is technique in which a benefit is offered to the consumer on fulfilling some condition of purchase of the product. e.g. purchase of 200 or more, to its customers, which entitles them to win exciting prizes like car, LCDs etc.