Rajasthan Board RBSE Class 12 Business Studies Chapter 6 Marketing
RBSE Class 12 Business Studies Chapter 6 Textbook Exercise
RBSE Class 12 Business Studies Chapter 6 Very Short Answer Type Questions
Question 1.
What does marketing management imply?
Answer:
Marketing management implies the activities related to marketing, such as planning, organising, controlling, etc.
Question 2.
State any two functions of Marketing.
Answer:
- Gathering & Analysing Market information.
- Marketing planning.
Question 3.
What are customer support services?
Answer:
Customer support services are the helpline services for the customers to provide remedies for their problems. It is an important tool of marketing.
Question 4.
Enlist any two points of importance of marketing for a businessman.
Answer:
- To maintain the existence of his business in a competitive environment.
- Basis of Planning.
Question 5.
Mention any two points of importance of marketing from society point of view.
Answer:
- Availability of goods at reasonable price.
- Increase in employment.
Question 6.
State any two points of importance of marketing for the nation.
Answer:
- Optimum utilisation of national resources.
- Protection from economic recession.
Question 7.
Give two points of importance of marketing for the customer.
Answer:
- Availability of good quality goods at lowest price.
- Satisfaction of needs.
Question 8.
How does marketing management enhance customers’ knowledge?
Answer:
Marketing management enhances customer knowledge by advertisement, sales promotion and personal selling of the products.
Question 9.
Differentiate between labelling and packaging.
Answer:
| Labelling | Packaging |
| Labelling refers to designing and developing the label to be put on the package. | Packaging refers to designing and developing the package for the products |
Question 10.
What are the four Ps of marketing?
Answer:
- Product
- Price
- Place
- Promotion.
RBSE Class 12 Business Studies Chapter 6 Short Answer Type Questions
Question 1.
Explain any four functions of marketing management?
Answer:
- Gathering and analysing market information is the most important function of marketer.
- Marketing communication is a very important function of marketing. Every marketer has to ensure an efficient marketing communication system in his firm.
- Marketer has to develop a complete plan, covering various important aspects.
- Promotion of the product is done by marketer.
Question 2.
Explain briefly the following functions of marketing management
- Market analysis
- Marketing planning
- Marketing information.
Answer:
- Market Analysis :
Market analysis is the analysis of the needs of the customers, and on the basis of this information, marketer can take decisions for successful marketing of the products and services. He can analyse relative popularity of product for buyers, etc. - Marketing Planning :
Marketing planning is determining a series of steps to achieve marketing objectives. - Marketing Information:
It is an important aspect. Every marketer has to ensure an efficient marketing information system in his firm. For transmission of marketing information, he can use advertisement, sales promotion, etc.
Question 3.
Explain the following marketing management functions:
- Packaging & labelling
- Warehousing,
- Transportation.
Answer:
- Packaging and Labelling :
Packaging refers to designing and developing the package for the products. Labelling refers to designing and developing the label to be put on the package. They both are considered as pillars of marketing. - Warehousing :
In order to maintain smooth flow of products in the market, to protect against unavailable delays in delivery or to meet contingencies in the demand, proper storage of goods is required. Warehousing creates time utility. - Transportation :
Transportation involves physical movement of goods from one place to other. Generally, the users of the products are widespread and geographically separated, and it is necessary to move the products to the place where they are needed for consumption and use.
Question 4.
Explain points of importance of marketing for businessman.
Answer:
- To maintain its existence in competitive environment, through its efficient marketing function, an organisation can exist in the modem competitive business environment.
- Basis of Planning : Marketing management links the consumers with the market. Consequently, after identifying consumer needs, various decisions are taken.
- Enhance Sale: Marketing management can analyse changes taking place in the market and consumer behaviour. This information can be used to develop products, by which sales can be easily increased.
- Distribution at Minimum Cost : When long-term production takes place due to efficient marketing, ultimately, the organisation enjoys economy of scale and reduces its per unit cost.
Question 5.
Explain any four points of importance of marketing for customers.
Answer:
- Consumer Satisfaction :
The main objective of marketing is consumer satisfaction only. By making available desired commodities of right quality, at right place, at reasonable price, on right time enhances consumer satisfaction. This increases the working efficiency, lifestyle, standard of living & satisfaction of the consumers. - Convenience and Comfort :
Today, efficient marketing is offering the consumer more and more sources of comforts, recreation and other sources of luxury. - Enhances Knowledge :
Advertisement, sales promotion and personal selling provides knowledge to customers about latest market developments in different spheres. - After-Sales Services :
By marketing, after-sales service like maintenance and repair services, home delivery, replacement of goods, etc. are offered free of cost, which benefits the consumers.
Question 6.
Explain any four points of importance of marketing for the society?
Answer:
- Availability of goods at reasonable price :
Through efficient marketing management, marketer provides the goods and services to consumers at comparatively cheaper price. As a result all the sections of society tending to gain. - Freedom from Malpractices: Effective market management eradicates malpratices and unscrupulous activities such as adulteration, profiteering, misleading advertisements, etc.
- Creation of Social Value :
Modern approach of marketing focuses on customer’s satisfaction. A businessman regards the customers as a pivot for all functions/activities and has realised that for maximising profits, customer satisfaction is the key to success. Modern marketing begins and ends with customers. - Increase in Employment :
Marketing creates job opportunities in different areas like distribution, advertisement, etc. to a large number of people. Millions of people are employed in transportation, warehousing, banking, insurance, etc. Thus, marketing offers rewarding jobs directly & indirectly and activates other economic activities.
Question 7.
Explain any four points of importance of marketing for the nation.
Answer:
- Optimum Utilisation of National Resources :
Marketing help in optimum utilisation and fair distribution of all the natural and capital resources for the economic development of a country. - Protection from Economic Recession :
Marketing maintains a balance between the demand and supply of a commodity and saves the nation from economic recession. - Increase in national Income / GDP :
By persuading the buyers to demand goods and creating of demand for goods & services by inspiring people to take up new activities and by setting up enterprises for producing goods needed by the customers, marketing plays a significant role in increasing GDP. - Export Promotion :
Through market research conducted in foreign markets, marketing management helps in entering into the international business. Marketing-helps in establishing a product in foreign markets.
Question 8.
Explain any four points of the process of marketing.
Answer:
- Marketing Analysis :
Market analysis refers to analysing the needs of the customers, and based on this information a marketer can take decisions for successful marketing of the products and services. He can analyse the buyer’s habit, relative popularity of product, etc. - Marketing Planning :
Marketing Planning is a series of steps planned in order to achieve marketing objectives. The marketers have to develop a complete plan; covering various important aspects such as promotion policy, distribution policy, etc. in order to achieve the desired marketing objectives. - Marketing Communication :
Every marketer has to ensure an efficient marketing communication system in his firm. For transmission of marketing information, he can use sources like advertisement, sales promotion, etc. - Product Design & Development :
Effective product planning anticipates the wants and expectations of the consumers and develops the product accordingly. It requires improvement in the existing product and development of new products.
Question 9.
Explain the concept of Marketing Management.
Answer:
Marketing management is an important functional area of business. Marketing management is the process of planning, organising, directing and controlling the activities related to marketing of goods and service to satisfy the customer’s need and achieve organisational goals.
According to Prof. Johnson :
“Marketing management is that area of business activities which includes the formation and execution of plans for all steps of entire selling campaign.”
Therefore, Marketing management is that functional area of business which generates revenue through producing and selling goods and services for consumer satisfaction.
RBSE Class 12 Business Studies Chapter 6 Long Answer Type Questions
Question 1.
Throw light on the meaning and importance of marketing management.
Answer:
Meaning of Marketing Management :
Marketing management is that functional area of business which generates revenue by producing and selling goods and services for consumer satisfaction.
Importance of marketing Management :
The importance of marketing management can be studied under the following four heads for the sake of better understanding of the concept:
(I) Importance for the Businessmen / Enterprise
(II) Importance for the Customers
(III) Importance for the Society
(IV) Importance for the Nation.
(I) Importance for Businessmen / Enterprise :
Importance for Businessmen / Enterprise can be explained by the following ways :
- To maintain its existence in competitive environment :
Through efficient marketing function, an organisation can exist in the modem competitive business environment. - Basis of Planning :
Marketing management links consumers with the market. Various decisions are taken, production and marketing plans are developed and action programmes are specified by marketing management. - Enhance Sales :
Marketing management can analyse changes taking place the market and consumer behaviour. This can be used to develop products which meet the specification of the consumers. - Large-Scale Production :
Increased sales result in increased production of goods and services. - Distribution at Minimum Cost :
When long-term production takes place due to efficient marketing, ultimately, an organisation enjoys economy of scale and reduces its per unit cost. - Increase in Profits :
Effective marketing system helps in increasing profits.
(II) Importance for the Customers :
- Availability of good quality goods at lowest price :
Strong marketing strategies bring down production and distribution cost. This makes it possible for customers to get quality goods with widest choice at cheapest price. - Satisfaction of Needs :
The needs wants, interests, desires, taste and preference of consumers hold an important place in an effective marketing system. Marketing research helps in producing new goods with improved features thus satisfying the needs of consumers. - After-Sales Service :
By marketing, after-sales services like maintenance and repair services, etc. are offered free of cost. - Timely Availability of Goods :
Through an effective marketing system, with the best channels of distribution and physical distribution provision, today, consumers can buy any type of goods or services at any time (24×7)
(III) Importance for Society :
- Availability of Goods at Reasonable Price :
Through an efficient marketing management, the marketer provides the goods and services to consumers at comparatively cheaper price. - Increase in Employment :
Marketing creates job opportunities in different areas, like distribution, advertisement, etc. to a large number of people. - Freedom from Malpractices :
Effective market management eradicates malpractices and unscrupulous activities like adulteration, etc. - Creation of Social Values :
Modern approach of marketing focuses on customer satisfaction. A businessman regards customers as a pivot for all functions activities, and has realised, that for maximising profits, customer satisfaction is the key to success.
(IV) Importance for Nation :
- Optimum utilisation of national reasources :
Marketing helps in optimum utilisation and fair distribution of all the natural and capital resources for the economic development of a country. - Protection from Economic Recession :
Marketing maintain a balance between the demand and supply of a commodity. By creating demand for goods, marketing saves nation from economic recession, etc. - Increase in National Income :
By persuading buyers to buy goods and services, marketing plays a significant role in increasing GDP / National Income.
Question 2.
Explain in detail various functions of marketing.
Answer:
Various functions of marketing are as follows :
- Gathering and analysing market information :
One the most important functions of a marketer is to gather and analyse market information, With the help of this information, he can identify the needs of the customers and take decisions for successful marketing of products and services. - Marketing Planning :
After marketing research / analysis is conducted, the marketer has to plan a series of steps in order to achieve marketing objectives. - Marketing communication function :
Marketing communication is a very important function of marketing. Every marketer has to ensure an efficient marketing communication system in his firm. Through advertisements, sales promotion, etc an organisation can communicate the necessary message to the existing or prospective buyers. - Product designing and Development :
Effective product planning anticipates the wants and expectations of the consumers and develops the product accordingly. It requires improvement in the existing product and development of new products. - Market Classification :
An organisation can’t satisfy all the customers by its products, hence every organisation chooses a target market out of the entire market, so that marketing management can focus on the process of acquiring and maintaining, those selected customers of target market and keep them satisfied. - Financing :
Marketing department identifies need for fund requirements and coordinates with the finance department for the same. - Risk taking :
Risk is involved in almost all stages in the marketing process. Right from product planning, there are chances of loss due to change in demand and supply conditions, loss in storage, etc. some of these risks are insurable, while others are not. Therefore, marketing department has to bear these risks and try to minimise the loss due to such risks. - Storage or Warehousing :
In order to maintain smooth flow of products in the market, to protect against unavoidable delays in delivery or to meet contingencies in the demand, proper storage of goods is required. Warehousing creates time utility.
Question 3.
Explain the process of marketing management?
Answer:
- Market Analysis :
Marketers gather and analyse market information. With the help of this information, a marketer can identify the needs of the customers and take decisions for successful marketing of the products and services. - Market Planning :
After marketing analysis is conducted, the market has to plan a series of steps in order to achieve marketing objectives. This process is called market planning. Marketer has to develop a complete plan. - Marketing Communication :
Marketing communication is a very important function of marketing. Every marketer has to ensure an efficient marketing communication system in his firm. For the transmission of marketing information, he can use sources like advertisement, etc. Through sales, promotion, etc. an organisation can communicate necessary message to the existing buyers, or prospective buyers. - Product Design and Development :
Effective product planning anticipates the wants and expectations of the consumers and develops the product accordingly. It requires improvement is the existing product and development of new products. - Market Classification :
Every organisation should choose a target market out of entire market, so that marketing management can focus on the process of acquiring and maintaining those selected customers of target market and make efforts to keep them satisfied. - Packaging and Labelling :
Packaging refers to designing and developing the package for the products. Labelling refers to designing and developing the label to be put on the package. They both are considered as pillars of marketing. - Standardisation and Grading :
Standardisation refers to producing goods of predetermined specification, which helps in achieveing uniformity and consistency in the output. Grading ensures that goods belong to a particular quality and helps in realising higher price for high quality output. - Branding :
The selection of suitable brand name plays an important role in the success of a product. It means providing a specific name to a product, in order to make the product distiguishable from other similar products. - Product Pricing :
A marketer has to properly analyse the features of determining the price of a product and take several crucial decisions in this regard, including setting the pricing objectives, etc. - Promotion :
Promotion of products and services involves informing the customers about the firm’s product and its features, etc. The marketer has to take decision in respect of promotion budget, mix etc.
RBSE Class 12 Business Studies Chapter 6 Additional Questions
RBSE Class 12 Business Studies Chapter 6 Objective Type Questions
Question 1.
The objective of ______ is to earn profits through customers satisfaction and to raise their standard of living:
(a) Marketing
(b) Motivation
(c) Leadership
(d) All of these
Answer:
(a) Marketing.
Question 2.
The place where buyers and sellers meet is known as :
(a) Market
(b) Leadership
(c) Both a & b
(d) None of these
Answer:
(a) Market.
Question 3.
“Marketing is the total system of inter-connected business activities designed to plan, price, promote and distribute want-satisfying products and services to the present and potential customers.” Whose definition is this?
(a) Prof. Johnson
(b) Philip Koetler
(c) William Stanton
(d) None of these
Answer:
(c) William Stanton.
Question 4.
In SWOT Analysis, ‘S’ stands for :
(a) Weakness
(b) Strength
(c) Opportunities
(d) Threats
Answer:
(b) Strength.
Question 5.
In SWOT Analysis, ‘W’ stands for :
(a) Strength
(b) Opportunities
(c) Weakness
(d) None of these
Answer:
(c) Weakness.
Question 6.
In SWOT analysis ‘O’ stands for :
(a) Opportunities
(b) Strength
(c) Weakness
(d) All of these
Answer:
(a) Opportunities.
Question 7.
In SWOT analysis ‘T’ stands for :
(a) Opportunities
(b) Strength
(c) Weakness
(d) Threats.
Answer:
(d) Threats.
Question 8.
It is a Pillars of marketing :
(a) Packaging
(b) Labelling
(c) Both a & b
(d) None of these
Answer:
(c) Both a & b.
Question 9.
In success of these consumers brands such as Lays and Uncle chips potato waters, has played an important role :
(a) Packaging
(b) Strength
(c) Pricing
(d) None of these
Answer:
(a) Packaging.
Question 10.
Producing goods of pre-determined specification is known as :
(a) Grading
(b) Standardisation
(c) Packaging
(d) Labelling
Answer:
(b) Standardisation.
Question 11.
ensures that goods belong to a particular quality and helps in realising higher prices for high quality outputs :
(a) Standardisation
(b) Packaging
(c) Labelling
(d) Grading
Answer:
(d) Grading.
Question 12.
Importance of Marketing is divided into how many parts?
(a) Three
(b) Four
(c) Five
(d) Six
Answer:
(b) Four
Question 13.
Marketing management is a part of.
(a) Motivation
(b) Management
(c) Leadership
(d) None of these
Answer:
(b) Management.
Question 14.
Full form of GDP is :
(a) Gross Domestic Production
(b) Gross Dust Production
(c) Both A & B .
(d) None of these
Answer:
(a) Gross Domestic Production.
Question 15.
After-sales service are provided free of cost by companies :
(a) False
(b) True
(c) Both a & b
(d) All of these
Answer:
(b) True.
RBSE Class 12 Business Studies Chapter 6 Very Short Answer Type Questions
Question 1.
“Marketing management is that area of business activities which includes the formation and execution of plans for all the steps of entire selling campaign.” Whose definition is this?
Answer:
Prof. Johnson.
Question 2.
For Scanning the market environment, which analysis is used?
Answer:
SWOT Analysis.
Question 3.
Give the full form of SWOT analysis.
Answer:
S—Strength, W—Weakness, 0—Opportunities, T—Threats.
Question 4.
Which are the two Pillars of Marketing?
Answer:
Packaging and Labelling.
Question 5.
Define Packaging.
Answer:
Packaging refers to desiging and developing the package for the products.
Question 6.
Define Standardisation.
Answer:
Standardisation refers to producing goods of pre-determined specification, which helps in achieveing uniformity and consistency in the output.
Question 7.
Define Labelling.
Answer:
Labelling refers to designing and developing the label to be put on the package.
Question 8.
Define Grading.
Answer:
Grading ensures that goods belong to a particular quality and it also helps in realising higher prices for high quality output.
Question 9.
Explain Market Classification.
Answer:
To classify the groups on the basis of like features, wants, needs, interests, etc. according to sub markets is known as market classification.
Question 10.
What is Marketing Planning?
Answer:
Marketing Planning is a series of steps designed in order to achieve marketing objectives.
Question 11.
What is Market Classification?
Answer:
To classify the groups on the basis of features like wants, needs, interests, etc. according to sub-market is known as market classification.
Question 12.
What is Marketing Management?
Answer:
Marketing management is that functional area of business which generates revenue by producing and selling goods and services for consumer satisfaction.
Question 13.
Why is market analysis important?
Answer:
Analysing market information helps in identifying and minimising the risk before taking the final decision regarding the best opportunity available to the firm.
Question 14.
Name the tools by which an organisation can communicate the necessary message to the existing or prospective buyers.
Answer:
Sales art, promotion services, etc. are such tools.
Question 15.
What is Branding?
Answer:
Branding means providing a specific name to a product in order to make the product distinguishable from other similar products.
Question 16.
Explain any one major decision taken under physical distribution.
Answer:
Decision regarding channels of distribution or marketing intermediaries.
Question 17.
What is Transportation?
Answer:
Transportation is physical distribution / movement of goods from one place to the other.
Question 18.
Write any one point of importance of marketing management for businessmen.
Answer:
To maintain its existence in a competitive environment.
Question 19.
What is Promotion?
Answer:
Promotion of products and services involves informing the customers about the firm’s product and its features, etc.
Question 20.
What are Channels of Distribution?
Answer:
Ensuring make availability of goods of right quantity, of right quality, at right place and in fight time is done by channels of distribution.
Question 21.
Define Marketing in the words of Prof. J. E. Pyle.
Answer:
Marketing is the business process by which products are matched with the markets and through which transfer of ownership is effected.
Question 22.
What do you mean by Marketing?
Answer:
Marketing means those business activities which facilitate the creation of utility in goods or services and distribution of these goods or services from the point of production to the point of final consumption.
Question 23.
Marketing Management is a part of Organisation Management. True or False?
Answer:
True.
Question 24.
Write one point of importance of marketing management for the customer.
Answer:
Availability of good quality goods at lowest price.
Question 25.
How does Marketing help in enhancing the knowledge of customers?
Answer:
Advertisement, sales promotion and personal selling provides adequate knowledge to customers regarding latest market developments in different areas which helps in enhancing the knowledge of customers.
Question 26.
How does marketing improve the standard of living?
Answer:
Marketing helps in improving the standard of living by providing new and better variables of goods to people.
Question 27.
Name two types of after-sales services?
Answer:
- Home delivery.
- Maintenance and repair services.
Question 28.
How does Marketing affect the timely availability of goods?
Answer:
Through effective marketing, with the best channels of distribution, today, consumer can buy any types of goods or services at any time.
Question 29.
Define Customer.
Answer:
Customer is the person who buys goods or services for his/her consumption or for the consumption of others.
Question 30.
Define Consumer.
Answer:
Consumer is the person who not only buys the goods or services but also consumers them himself.
Question 31.
Write one point of importance of Marketing Management for the society?
Answer:
Marketing management helps in increasing the national Income or GDP.
RBSE Class 12 Business Studies Chapter 6 Short Answer Type Questions (SA -I)
Question 1.
Define Marketing Management in the words of Philip Koetler.
Answer:
According to Philip Koetler, “Marketing management is the analysis, planning, implementation and control of programme designed to create, build, maintain, mutually beneficial exchanges and relationships with target markets for the purpose of achieving organisational objectives.”
Question 2.
Explain Standardisation and Grading.
Answer:
Standardisation refers to producing goods of predetermined specification, which helps in achieving uniformity and consistency in the output.
Grading ensures that goods belong to a particular quality and it also helps in realising higher prices for high quality output.
Question 3.
Explain Packaging and Labelling?
Answer:
Packaging refers to designing and developing the package for the products.
Labelling refers to desiging and developing the label to be put on the package.
Both packaging and labelling are considered as pillars of marketing.
Question 4.
Explain Marketing Management.
Or
What is Marketing Management?
Answer:
Marketing management is that functional area of business which generates revenue through producing and selling goods and services for consumer satisfaction.
Question 5.
Write two major decision-making areas under physical distribution function of Marketing Management.
Answer:
Two major decision-making areas under this function include :
- Decisions regarding channels of distribution or marketing intermediaries.
- Physical movement of a product from where it is produced to the place where it is required by customers for their consumption or use. It is the right decision of efforts and brings efficiency in distribution, convenience to customers, etc.
Question 6.
How does Marketing Management minimise the risk involved?
Answer:
Risks are involved in almost all stages in the marketing process. Right from product planning, there are chances of risks due to change in demand and supply condition, loss in storage and transport and other risks. Some of these marketing risks are insurable, while others are not. Therefore, marketing department has to bear these risks and make efforts to minimise the loss due to such risks.
RBSE Class 12 Business Studies Chapter 6 Short Answer Type Questions (SA – II)
Question 1.
Marketing Management provides more employment opportunities. Explain how?
Answer:
Marketing creates job opportunities in different areas, like distribution, advertisement, packaging, personal selling, sales promotion, etc. to a large number of people. Millions of people are employed in transport sector warehousing, etc. Thus, marketing offers rewarding jobs directly and indirectly and activates other economic activities also.
Question 2.
How does Marketing Management ensure optimum utilisation of resources?
Answer:
Marketing management creates form, time, place, possession and knowledge utility, therefore marketing helps in optimum utilisation and fair distribution of all the natural and capital resources for the economic development of a country.
Question 3.
How does Marketing Management save the country from economic recession?
Answer:
Marketing maintains a balance between the demand and supply of a commodity. By creating demand for goods, marketing saves nation from economic recession, unemployment, poverty, and other such evils.
Question 4.
How does Revenue of the Government increase by marketing?
Answer:
Marketing acts as a catalyst in various economic activities like production, distribution, exchange, etc. Marketing increases the level of production, sales savings, profit in investment, profits, which increases the income of people. Thus, through direct and indirect ways, government revenue also increases.
Question 5.
What is Market Information System?
Answer:
An effective marketing system is based on strong communication and information system which provides useful information to the customers. They get valuable information about the availability of goods, new features, price trends, substitute goods, etc. which helps in taking purchase decisions in a better way.
Question 6.
What is the main objective of Marketing Management?
Answer:
The main objective of marketing management is consumer satisfaction only. Marketing, by making available desired commodities of right quality, at right place, at reasonable price, on right time, enhances consumer satisfaction.
RBSE Class 12 Business Studies Chapter 6 Long Answer Type Questions
Question 1.
Define Marketing Management.
Answer:
Marketing management is the process of planning, organising, directing and controlling the activities related to marketing of goods and services to satisfy the customer’s need and achieve organisational goals.
According to Prof. Johnson :
“Marketing management in that area of business activities which includes the formation and execution of plans for all the steps of entire selling campaign.”
Question 2.
Explain the following :
- Standardisation and grading
- Market classification
- Branding.
Answer:
- Standardisation and Grading :
Standardisation refers to producing goods of predetermined standard, which helps in achieving uniformity and consistency in the output. Grading ensures that goods belong to a particular quality and it helps in realising higher prices for high quality output. - Market Classification :
To classify the groups on the basis of features like wants, needs, interests, etc. according to sub-markets, is known as market classification, and the marketers focus on these target markets. - Branding :
Branding means providing a specific name to a product, in order to make the product distinguished from other similar products. Brand name helps in creating product differentiation from those of the competitor’s product.
Question 3.
For what can Marketing be done?
Answer:
Marketing can be done for anything that satisfies the customers after buying it or which can provide any utility or value to them. Marketing can be of any product. Products are the goods which are produced for human satisfaction, and a product can be touched, felt, etc. But it is not compulsory that we can do the marketing of goods only, instead, we can do the marketing of services also. We can only feel the services, we can’t touch them or see them, like hospitality industry provides the service to us. So, it is clear that marketing can be done for products, services, experiences, opinions, etc. The main target of this is customer satisfaction.
Question 4.
Explain Transportation and Storage or Warehousing.
Answer:
(1) Transportion :
Transportation involves physical movement of goods from one place to the other. The users of the products are widespread and geographically separated, and it is necessary to move the products to the places where they are needed for consumption and use. A marketing firm has to analyse its transportation need after taking into consideration various factors.
(2) Storage or Warehousing :
In order to maintain a smooth flow of products in the market, to protect against unavoidable delays in delivery or to meet contigencies in demand, proper storage of goods is required. Warehousing creates time utility.
Question 5.
Explain four functions of Labelling.
Answer:
- Product description and Contents :
Labelling provides description of product and contents which are included in the product. - Identification of Product or Brand :
Labelling provides the name, address, weight of the product at the time of packaging, Maximum Retail Price (MRP), Batch No., etc. which provides product identification to the consumer. - Information About Law :
The most important function of labelling is that it provides information about various issues, such as important caution, etc. For example : on Cigarette packets it is mentioned “It is injurious to health.” - Product Grading :
Labelling ensures grading, which means it belongs to a particular quality.
Question 6.
Explain any three points of importance of marketing management for the Nation.
Answer:
(1) Optimum Utilisation of Resources :
Marketing management creates form, time, place, possession and knowledge utility, and therefore marketing helps in optimum utilisation and fair distribution of all the natural and capital resources for the economic development of a country.
(2) Government Revenue :
Marketing acts as a catalyst for various economic activities like production, distribution, exchange, etc. Marketing increases the level of production, sales, savings, etc. which increases the income of the people. Thus, through direct and indirect taxes, government revenue also increases.
(3) Export Promotion :
Through market research conducted in foreign markets, marketing management helps in entering international business. In addition to it, by improving the quality and reducing the production cost, marketing helps in establishing the product in foreign markets. In this way, marketing management helps in earning valuable foreign exchange by promoting domestic goods abroad.