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Question
State whether the following statement is true or false:
The term market is derived from the Latin word ‘Mercatus’.
Options
True
False
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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.
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What is marketing concept?
Answer the question.
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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 | ||
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| 10) | Use of digital media | ||
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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 |
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| 4. 4Ps | __________________ |
| 5. ____________ | 3Ps |
Explain the following term/concept.
Place Concept of Market
Which one is the example of an Intangible product?
What is need for the market and explain the concept of marketing?
Which concept of marketing emphasise on availability and affordability of the product?
Which option lists marketing activities in the traditional view?
When does marketing take place in relation to production and sale?
How is marketing described in the modern or social view?
Besides a place of exchange, which uses of the term market are identified?
How must both parties enter into a transaction?
Which group consists of Ideas that can be marketed?
