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Question
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.
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Solution
A product has been discussed in the given question. Product refers to the mix of various tangible and intangible attributes which have a value and can be exchanged. They are capable of satisfying the needs of consumers. Besides physical goods, a product includes services.
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RELATED QUESTIONS
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.
What is marketing?
What is marketing concept?
Answer the question.
Mention two types of markets, on the basis of the position of buyers and sellers.
What is the market? Explain the meaning of the capital market and money market.
State two features of the modern concept of marketing?
Match the pairs.
| Group A | Group B | ||
| A) | Market | 1) | Single Seller |
| B) | Registered brands | 2) | Stock Market |
| C) | Monopoly | 3) | Distinct Name |
| D) | Branding | 4) | Mercatus |
| E) | Digital Marketing | 5) | Single Buyer |
| 6) | lSI | ||
| 7) | Trademark | ||
| 8) | Use of traditional media | ||
| 9) | Multiple sellers | ||
| 10) | Use of digital media | ||
What is Marketing?
The term ‘market’ may be understood in which of the following contexts?
Which of the following statements is incorrect?
The marketing concept is based on which of the following points.
Find the odd one:
Which activities are included after sale?
What does the modern or social view of marketing focus on?
Besides a place of exchange, which uses of the term market are identified?
What is the marketing feature called Needs and Wants concerned with?
How must both parties enter into a transaction?
Which organisations use marketing besides businesses?
