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Question
What is Marketing?
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Solution
Marketing is one of the business functions that all activities that take place in relation to markets for actualizing potential exchanges for the purpose of satisfying human needs and wants.
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
Explain the following function of marketing:
Standardisation
Distinguish between the product concept and production concept of marketing.
Explain any four facilitating functions of marketing.
Write short notes on:
Marketing research.
The term market is derived from the ______ word ‘Mercatus’.
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 |
| 3. ____________ | To trade merchandise |
| 4. 4Ps | __________________ |
| 5. ____________ | 3Ps |
The term ‘market’ may be understood in which of the following contexts?
With which element is the exchange mechanism related?
Explain the following function of marketing:
Grading
