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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
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.
List five shopping products purchased by you or your family during the last few months.
Distinguish between the product concept and production concept of marketing.
Differentiate between the traditional concept of marketing and 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 | ||
Explain the following term/concept.
Digital Concept of 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 |
The term ‘market’ may be understood in which of the following contexts?
With which element is the exchange mechanism related?
Marketing is called a ____________ process because it involves the interaction of buyers and sellers.
A person feeling hungry may get food by offering to give money or some other product or service in return to someone who is willing to accept the same for food. The important feature of marketing illustrated above is ______.
Which of the following statements is true regarding marketing?
Which concept of marketing emphasise on availability and affordability of the product?
Which of the following statement is true regarding marketing?
Find the odd one:
Customer orientation is a modern approach to marketing.
