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Question
The area concept of market is related to exchange concept.
Options
True
False
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Solution
The area concept of market is related to exchange concept. - True
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.
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Marketing research.
The term market is derived from the ______ word ‘Mercatus’.
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 | ||
The term market is derived from the Latin word ‘Mercatus’.
The market may be defined as aggregate demand by potential buyers for a product or service.
Answer in one sentence.
Define Market.
Explain the following term/concept.
Commodity Concept of Market
Explain in detail the concepts of marketing.
The term ‘market’ may be understood in which of the following contexts?
According to the modern marketing concept, which of the following statements is true?
With which element is the exchange mechanism related?
Which of the following statement is true regarding marketing?
Customer orientation is a modern approach to marketing.
