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Question
What is marketing?
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Solution
Marketing is a social process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. It focuses on identifying consumer needs and matching them with the right products to deliver maximum satisfaction.
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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.
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 | ||
Write a word/term/phrase for the following sentence.
The market for the commodities which are produced in one country and sold in another countries.
Explain the following term/concept.
Place Concept of Market
Explain the following term/concept.
Commodity Concept of Market
Which one is the example of an Intangible product?
What is Marketing?
Which of the following statements is incorrect?
The marketing concept is based on which of the following points.
How does marketing help people and organisations obtain what they need and want?
Which activities are included in CSR?
In Phillip Kolter’s definition, marketing is a social process by which individual groups obtain what they need and want through what means?
Which activities are included after sale?
How is marketing described in the modern or social view?
What is the marketing feature called Needs and Wants concerned with?
Which group consists of Physical Products that can be marketed?
Why is exchange considered the essence of marketing?
