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प्रश्न
Explain the following term/concept.
Digital Concept of Market
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उत्तर
- The emergence of Information Technology gave rise to a new market concept, the Space or Digital Concept.
- Communication media, such as telephones, mobile phones, Computers, and the Internet, have enabled direct contact between the customer and the seller.
- Digital Market can be defined as a “Market which uses Information Technology for buying and selling of the products or services and facilitates communication of quality, features, price, and terms of exchange among them.”
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संबंधित प्रश्न
Nishtha, Vasvi and Radhika were friends from college time and now they are engaged in different types of businesses. They regularly meet and discuss their business ideas, exchange notes on customer satisfaction, marketing efforts, product designing, selling techniques and social concerns, etc.
Nishtha drew the attention of her friends towards the exploitation of consumers in the market. She said that the sellers were exploiting the consumes in many ways and were not paying attention towards the social, ethical and ecological aspects of marketing. Vasvi said that they were under pressure of consumer satisfaction but observed that the consumers would not buy or not buy enough unless they are adequately convinced and motivated to do the same
Radhika stressed that it was the duty of the businessmen to keep consumer satisfaction in mind because business was run by the resources made available by the society. Thus, a company cannot achieve its objectives without understanding the needs of the customers. The thinking of the three friends was different. These thinkings were guiding the marketing efforts of their business and were known by the different name. Identify these names. Also, state one more feature of each of these thinkings.
Hayaram' is a famous chain selling a large variety of products in the Indian market. Their products include chips, biscuits, sweets and squashes. It charges a comparatively higher price than its competitors as it sells quality products. Besides, it offers regular discounts to its customers and easy credit terms to its retailers. It has five of its own retail shops. It also sells its products through various grocery stores so that the products are made available to customers at the right place, in the right quantity and at the right time. It regularly uses different communication tools to increase its sales.
The above para describes the combination of variables used by Hayaram to prepare its market offering. Identify and explain the variables
Maruti Vega Ltd.' entered into the market with coloured television and have now introduced products like audio systems, air-conditioners washing machines, etc. The company is not only offering the products but also handling complaints and offering aftersales services.
Identify the element of marketing-mix discussed here.
What is the societal concept of marketing?
List five shopping products purchased by you or your family during the last few months.
Name two types of markets on the basis of the nature of transactions.
Explain any four facilitating functions of marketing.
What is the market? Explain the meaning of the capital market and money market.
Write short notes on:
Marketing research.
The market may be defined as aggregate demand by potential buyers for a product or service.
Select the correct option and complete the table.
(Mercatus, Industrial goods, Oligopoly, E. Jerome McCarthy, Booms & Bitner)
| Group 'A' | Group ‘B’ |
| 1. Commodity Market | ____________ |
| 2. ____________ | A few sellers |
| 3. ____________ | To trade merchandise |
| 4. 4Ps | __________________ |
| 5. ____________ | 3Ps |
Answer in one sentence.
Define Market.
Select the correct option.
(place concept of market, E Jerome McCarthy, market research, label, 3P’s)
| Group A | Group B |
| A. 4Ps | _______________ |
| B. _______________ | A function of marketing |
| C. Booms and Bitner | _______________ |
| D. _______________ | buyers, sellers and intermediaries come together |
| E. _____________ | slip is found on the product |
Which one is the example of an Intangible product?
What is need for the market and explain the concept of marketing?
Which of the following statements is incorrect?
Which of the following statements is true regarding marketing?
Explain the following function of marketing:
Grading
