BOOK : PRINCIPLES AND FUNCTIONS OF MARKET
CHAPTER 11 MARKETING QUESTION ANSWERS
Very Short Answer Type Questions
Q1. Explain the advantages of branding to marketers of goods and services.
Answer Branding is an important function performed by a marketer. It has following advantages to the marketers
(i) Enables marking product differentiation.
(ii) Helps in advertising and display programmes.
(iii) Differential pricing.
(iv) Ease in introduction of new products.
Q 2. List the characteristics of a good brand name.
Answer Following are the characteristics of a good brand name
(i) It should be short, easy to pronounce, recognise and remember e.g., Rin, Vim.
(ii) It should suggest product’s qualities e.g .• Genteel, Rasna.
(iii) It should be distinctive e.g., Zodiac.
(iv) It should be versatile to accommodate new products which are added to the product line e.g, Maggie, Videocon
(v) It should be capable of being registered and protected legally.
(vi) Chosen name should have staying powers e.g., it should not get out of date.
Q3. What is the societal concept of marketing?
Answer The societal concept of marketing means an extension of marketing concept. Apart from the consumer satisfaction, it pays attention to the social, ethical and ecological aspects of marketing.
Q4. List the characteristics of convenience products.
Answer Following are the characteristics of convenience products
(i) These goods are purchased at convenient locations with least efforts and time.
(ii) They have regular and continuous demand.
(iii) They are purchased in small quantities and per unit price IS low.
(iv) They are mostly branded and have standardised price.
(v) The competition is high as the supply is greater than the demand.
(vi) Sales promotion schemes play an important role in the marketing of such products.
Q5. Enlist the advantages of packaging of a consumer products.
Answer Importance of Packaging
(i) Helps in raising the standard of health and sanitation.
(ii) Helps in self service outlets as consumer own what to buy. can easily decide on his
(iii) Innovational opportunity e.g., new types of packaging availability have made it easier to market the product.
(iv) Product Differentiation Packaging is one of the very important means creating product differentiation.
Q 6. What are the limitations of a advertising as a promotional tool? Enlist.
Answer Following are the limitations of advertising
(i) Less forceful
(ii) Lack of feedback
(iv) Low effectiveness
Q 7. List five shopping products purchased by you or your family during the last few months.
(iv) Travelling bags
(v) Hand bags
Short Answer Type Questions
Q 1. What is marketing? What functions does it play with process of exchange of goods and services? Explain.
Answer Marketing is a total system of business activities designed to plan. price, promote and distribute want satisfying goods and services to present and potential customers. Marketing is concerned with exchange of goods and services from producer to consumers which involves many activities.
(i) Gathering and Analysing Market Information This is done to identify the needs of the customers and take various decisions for the successful marketing of the products and services.
(ii) Marketing Planning Another important activity or area of work of a marketer is to develop appropriate marketing plans. so that the marketing objective of the organisation can be achieved.
(iii) Product Designing and Development The design of the product contributes to make the product attractive to the target customers.
A good design can improve performance of a product and also give it a competitive advantage in the market.
(iv) Standardisation and Grading Standardisation refers to producing goods of predetermined specification which helps in achieving uniformity and consistency in the output which reduces the need for Inspection. testing and evaluation of the products.
Grading is the process of classification of products into different groups, on the basis of its features such as quality, size etc. It ensures that goods belong to a particular quality helps in releasing higher prices for high quality output.
(v) Packaging and Labelling Packaging refers to designing the package for the products. Labelling refers to designing the label to be put on the package. Packaging provides protection to the product and also helps in its promotion. Labelling helps in self service.
(vi) Branding Brand names help in creating product differentiations i.e., how the product can be distinguished from Its competitors.
(vii) Customer Support Service Marketing management relates to developing customer support service such as after sales services. handling customer complaints. All these aim at provides customer satisfaction which is a key to marketing success.
(viii) Pricing of Product Price IS an Important factor affecting the success or failure of a product in the market. The marketers have to analyse properly the factors determining the price of a product.
(ix) Promotion Promotion of products and services involves informing the customers about the firm’s product, its features etc and persuading them to purchase these products. It includes four method advertising, sales promotion, personal selling and publicity.
(x) Physical Distribution The important decisions areas under physical distribution include managing inventory, storage, warehousing and transportation of goods from one place to the other.
(xi) Transportation Transportation involves physical movement of goods from one place to another. A marketer has to perform this function very efficiently keeping in mind the nature of product. cost, location of target market etc.
(xii) Storage or Warehousing In order to maintain smooth flow of products in the market, there is a need for proper storage of the products. Further, there is a need for storage of adequate stock of goods to protect against unavoidable delays in delivery or to meet out contingencies in the demand. Wholesalers and retailers are playing an important role.
Q 2. Distinguish between the product concept and production concept of marketing.
Answer Difference between Product and Production Concept
Q 3. Product is a bundle of utilities. Do you agree? Comment.
Answer Yes, product is a bundle of utilities, which is purchased because of its capability to provide satisfaction of certain need. A buyer buys a product or service for what it does or service for what it does for her or the benefits it provides. There can be three types of benefits, it provides to a customer
(i) functional benefits
(ii) psychological benefits
(iii) social benefits.
e.g., the purchase of a motorcycle provides functional utility of transportation, but at the same time satisfies the need for prestige and esteem and provides social benefit by the way of acceptance from a group by riding it.
Q4. What are industrial products? How are they different from consumer products? Explain.
Answer Industrial products are those products. which are used as inputs in providing other products e.g., raw material, engines, tools, lubricants etc.
The difference between consumer products and industrial products is based on their ultimate use and nature of purchases.
Q5. Distinguish between convenience product and shopping product.
Answer Difference between Convenience and Shopping Product
Q6. Products is a mixture of tangible and intangible attributes. Discuss.
Answer In marketing, product is a mixture of tangible and intangible attributes which are capable of being exchanged for a value, with ability to satisfy customer needs. Beside physical objects, include services, ideas, persons and places in the concept of product. Thus, product may be defined as anything that can be offered in a market to satisfy a want or need. It is offered for attention, acquisition, use or consumption.
Q 7. Describe the functions of labelling in the marketing of products.
Answer Label on a product provides detailed information about the product, its contents, methods of use etc. The various functions performed by a label are as follows
(i) Describe the Product and Specify its Contents One of the most important functions of labels is that it describes the product, its usage, cautions in use etc and specify its contents.
(ii) Identification of the Product or Brand A label helps in identifying the product or brand e.g., we can easily pick our favourite soap from a number of packages only because of its label.
(iii) Grading of Products Labels help grading the products into different categories. Sometimes, marketers assign different grades to indicate features or quality of the product e.g., different type of tea is sold by some brands under Yellow, Red and Green label categories.
(iv) Help in Promotion of Products An important function of label is to aid in promotion of the products. A carefully designed label can attract the customer to purchase. So, many labels provide promotional messages, some show discount or other schemes etc.
(v) Providing Information Required by Law Another important function of labelling is to provide information required by law. e.g., the statutory warning on the package of cigarette or pan masala – ‘Smoking is injurious to health’ or ‘Chewing tobacco causes cancer.’
Q8. Discuss the role of intermediaries in the distribution of consumer non-durable products.
Answer The term channels of distribution refers the facilitate to the movement of goods and services and their title between the point of production and point of consumption, by performing a variety of marketing activities. Following are the functions performed by the channels of distribution
(i) Accumulation It aims at holding the stock to match between the consumer demand and supply condition, warehousing helps in maintaining continuous flow of goods and services.
(ii) Promotion The marketing channels also help in promoting the demand for the product by displaying demonstrating and participating in various promotional activities organised by the producers.
(iii) Negotiating The marketing channels are the intermediaries between the producers and the consumers. They attempt to reach final agreement on price and other terms of the offer, so that transfer of ownership is properly affected.
(iv) Risk Taking Risk taking is the basic responsibility of the intermediaries. It may arise out of physical deteriorations, changes in price levels, natural calamities, change in fashion etc. These are unavoidable as they hold sufficiently large and variety of inventories till the sale of stock.
(v) Grading/Sorting Grading is the process whereby they sort the products on the basis of different sizes, qualities, moisture contents and so on. It helps us realising the time value for the product and at the same time ultimate consumer feels satisfied with the uniform quality of the product.
(vi) Packaging The products are packed in the small tradable lots for the convenience of the consumer.
(vii) Assembling/Assortment Marketing channels aim at satisfying the needs of the customers. The products desired by the consumer may not be available in the market. They procure such goods from different sources, assemble or assort them as per the requirements of the consumers.
Q9. Explain the factors determining choice of channels of distribution.
Answer The choice of channels depend on various factors, which are discussed as follows
(i) Product Related Factors The important product related considerations is deciding the channels. It includes whether the’ product is an industrial product or a consumer product. Industrial product require shorter channel and consumer products require longer channel.
(ii) Company Characteristics The important company characteristics affecting the choice of channels of distribution include the financial strength of the company and the degree of control it wants to hold on other channel member. Direct selling involves lot of foods to be invested in fixed assets say starting own retail outlets or engaging large number at sales force. Similarly if the management want to have greater control on the channel number, short channels are used but if the management do not want more control over the middlemen, it can go in for longer channel or large number of intermediaries.
(iii) Competitive Factors The choice of channel is also affected by what the competitor has selected as its channel. Sometimes, firm may decide to go for the same channel and sometimes absolutely opposite.
(iv) Market Factors Important market factors affecting the choice of channel of distribution include size of market, geographical concentration of potential buyers and quantity purchased.
(V) Environmental Factors Sometimes environmental factors also helps in deciding the channel of distribution. e.q., in a depressed economy, marketers use shorter channels to distribute their goods In an economical way.
Q10. Explain briefly the components of physical distribution.
Answer The main components of physical distribution are as follows
(i) Order Processing If a firm takes more time to process the order, then the consumer remains dissatisfied. Therefore, order processing has to made faster by using information technology.
(ii) Inventory Control Inventories ensure the availability of the product as and when consumer demand arises. There are various factors which influence a firm decision regarding the level of inventory e.g., degree of accuracy of sales forecast, cost of blocking of the working capital etc.
(iii) Warehousing It refers to the storage of goods from the time of production to the time of consumption, Warehousing is important as it creates time utility,
(iv) Transportation It creates place utility, It refers to the carrying of raw materials or finished goods from one place to another, The most important thing to be kept in mind is that the value addition by transportation should be greater than the cost of transportation,
Q11. Define advertising, what are its main features? Explain.
Answer Advertising is defined as the impersonal form of communication which is paid form by the marketer to promote some goods or services, It is commonly use as the promotional tool of the company, The important features of advertising are as follows
(i) Paid Form Advertising is a paid form of communication which means the sponsor has to bear the cost of communication with the prospects,
(ii) Impersonality There is no direct face to face contact between the prospect and advertiser, It is therefore, referred as the impersonal method of promotion,
(iii) Identified Sponsor Advertising is undertaken by some Identified individual or company, who makes the advertising efforts and also bears the cost of it.
Q 12. Discuss the role of ‘Sales Promotion’ as an element of promotion mix.
Answer Sales promotion includes those marketing activities other than personal selling, advertising and publicity that stimulate consumer purchasing and dealer effectiveness, such as display, shows and exhibitions, demonstrations and various non-current selling efforts not in the ordinary routine, The main objectives of sales promotion activities are
(i) Creation of demand for the product.
(ii) Educating the consumers about new products or new uses of the old product.
(iii) Building the brand loyalty for the product among the consumers,
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