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Very Short Q & A based on NCERT Chapter 11
Q1: Define Marketing in modern terms.
Answer: Marketing is the performance of business activities that directs the flow of goods and services from producer to consumer or user.
Q2: List the 4Ps (basic elements) of Marketing Mix.
Answer: Product, Place, Price, Promotion, and Place (or physical distribution).
Q3: Give two examples of services which can be marketable?
Answer: Insurance, education, courier.
Q4: In terms of consumers, how marketing is different from selling?
Answer: The main focus of selling is consumer attraction while marketing focusses on consumer satisfaction.
Q5: Define Marketing Mix.
Answer: It refers to the combination of four basic elements, product, price, promotion and the place known as the four P’s of marketing.
Q6: What are the considerations involved while deciding the prices of a product?
Answer: Profit margin, cost, demand and the possibility of sales at different prices are some of the important considerations while deciding the prices of a product.
Q7: Zoom Udyog, a car manufacturing company has started its business with Zoom 800 and slowly launched Zoom 1000, WagonZ, Swify and offered various services like after sales service, availability of spare parts etc. Identify the element of marketing mix referred here.
Q8: Give two examples of convenience products.
Answer: cigarettes, ice creams, medicines, newspaper.
Q9: What is marketing research?
Answer: It is an application of resources of research process in solving the marketing problem.
Q10: What is trademark?
Answer: Trademark simply means mark of a trade carried on by an identified entity. Usually it is a sign mark or a symbol, word or group of words.
Q11: Define Promotion Mix.
Answer: It is concerned with activities that are undertaken to communicate with both customers and participate in the channel of distribution such that sales goals are realized.
Q12: Societal marketing concept creates balance between three values. Name these values.
Answer: Customer satisfaction, social welfare and profitability.
Q13: What is a labelling?
Answer: A label identity is the product or brand. It may be a simple tag attached to the product or indicates about the quality or price of the product.
Q14: List the three functions of Labelling.
Answer: Identification, Classification and Promotion
Q15: Define advertising.
Answer: It is defined as any paid form of non-personal presentation or promotion of ideas, goods or services by an identified sponsor.
Q16: List the functions of packaging.
Answer: Protection, Identification and Convenience
Q17: 'Beauty Products Limited' is a natural and ethical beauty brand famou for offering organic beauty products for men and women. The company uses plant waste maerials for its products and is the number one beauty brand in the country. It not only saistfies its customers but also beleives in overall protection of the planet. Identify the marketing management philosphy being followed by 'Beauty Products Limited'.
Answer: Societal Marketing Philopshy/Concept.
Q18: Define Sales Promotion.
Answer: It refers to short term use of incentives or other promotion activities that seek to stimulate interest.
Q19: Name one of the first companies in the world to actively study the influence of consumer products on the environment.
Answer: Procter and Gamble
Q20: Name two techniques of sales promotion.
Answer: Discounts and Premiums
Q21: Give two examples of zero level channels.
Answer: Eureka Forbes (selling thorugh own sales force), Bata (seeling through retail outlets)
Q22: What is Brand Extension?
Answer: It refers to the use of a successful brand name to launch a new or modified product in a same brand market.