Advertisements
Advertisements
Question
State whether the following statement is true or false:
The term market is derived from the Latin word ‘Mercatus’.
Options
True
False
Advertisements
Solution
This statement is true.
Explanation:
The term market is derived from the Latin word ‘Mercatus’, which means ‘to trade’, ‘to trade merchandise’ or ‘a place where business is transacted’. In simple words, a market is a place where two or more parties are involved in buying and selling.
APPEARS IN
RELATED QUESTIONS
How do the 'Company-related factors' affect the choice of channels of distribution? Explain
What is marketing concept? How does it help in the effective marketing of goods and services.
Name two types of markets on the basis of the nature of transactions.
Explain any four facilitating functions of marketing.
State two features of the modern concept of marketing?
Write short notes on:
Marketing research.
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 | ||
______ is the place where transaction of buying and selling of goods and services take place in exchange for money or money's worth.
Answer in one sentence.
Define Market.
Explain the following term/concept.
Digital Concept of Market
Define Marketing.
The area concept of market is related to exchange concept.
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 |
According to the modern marketing concept, which of the following statements is true?
With which element is the exchange mechanism related?
Marketing is a ______ process by which people interact with others in order to persuade them to act in a particular way, say to purchase a product or service rather than forcing them to do so.
Explain the following function of marketing:
Grading
