MARKETING MANAGEMENT CLASS-XII B.

ST (14MARKS)

Marketing, Concepts and functions of Marketing

1. What is meant by Market Ans. Market refers to a place where the buyers and sellers meet each other for sale and purchase of commodity. 2.Who can be called Marketeer. Ans. Marketeer refers to any person who takes more active role in the exchange process. Normally, in the exchange process, the seller is more active than the buyer as he identifies the needs of the potential buyers and persuades the customer to buy the product. However, when a buyer plays an active role, he will be treated as a marketer. 3. Define the term Marketing. Ans. According to William j. Stanton, Marketing is a total system of business activities designed to plan, price, promote and distribute want-satisfying products and services to present and potential customers. 4. What is meant by Marketing Management. Ans. Marketing management is the process of planning, organizing, directing and controlling the activities relating to the marketing of goods and services to satisfy the customers wants. The modern concept of marketing management emphasizes customer satisfaction rather than maximization of sales. 5. What is the Production concept of marketing. Ans. The production concept of marketing emphasizes the need for producing products which are inexpensive, widely available and affordable. 6. What is Product concept of marketing. Ans. The product concept of marketing means producing high quality products as quality products are always preferred by consumers. And hence efforts should be directed towards improvement of products. The basic idea of product concept is to shift from quantity to quality products. 7. What is selling concept of marketing. Ans.The selling concept of marketing means Selling what you have. The focus of selling concept is on pushing the products onto the customers by hook or by crook. The primary intention of the seller is to somehow convert goods into cash. The main objective of selling concept is profit maximization through sales volume. 8. What is marketing concept. Ans. The marketing concept highlights the following: Identification of market or target customers. Understanding of needs and wants of customers in the target market.Prepared Developing of products or services according to needs and wants of customers. Satisfying their needs better than the competitors. Doing all this at a profit. Prepared by Rajiv Mediratta

9. What is meant by Societal Marketing Concept? Ans. According to Societal marketing concept, the firms must perform marketing in a fashion so that society well-being is enhanced. Attention needs to be paid to the social, ethical and ecological aspects of marketing. The main focus of societal concept is on the customer satisfaction and the welfare of the society at large by providing eco-friendly products and thereby removing social and environmental ills like pollution, drugs etc. 10.Distinguish between Marketing and selling. Ans. Basis Marketing 1. Meaning Marketing involves activities related to planning, pricing, promotion and distributing the products for satisfying customer needs. 2. Objective Satisfaction of consumer needs 3.Scope Marketing has wider scope and it includes not only selling but also other activities such as advertising, market research etc It is consumer oriented. Its Process starts at pre-production stage. Marketing continues even after sale. Selling Selling means exchange of goods and services for money. Maximizing sales Selling is narrow and is just a part of planning. It is Product oriented. Its process starts after Production.. It comes to an end immediately after sale.

4.Orientation 5.Point of Start 6.Ending point 7.Profit Maximization 8. Strategies/ means used

Profit maximization through customer Profit maximization by Satisfaction. Maximization of sales. Integrated marketing efforts to satisfy It involves efforts like customers. Persuasion to dispose off the product. Marketing is a long-term concept. Consumer is Boss. He is treated as king. Selling is short-concept. Producer is given priority

9. Duration 10Supremacy

11. Explain the various functions of Marketing Ans Marketing functions are as follows: . 1. Market Research: Marketing research is the systematic investigation of the facts relevant to various aspects in marketing. It helps in identifying the needs of the customers. It involves study of the markets and customers, their tastes and preferences and what they are willing to buy, when they are likely to buy etc. Prepared by Rajiv Mediratta

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Marketing planning: Marketing plans are prepared to achieve marketing objectives of organization. Product Planning and Development: PPD is concerned with identifying customers needs, developing new products and improving existing products in order to meet desires of customers. Buying and Assembling: Buying: means purchase of raw materials for use in manufacture of finished goods for resale. Assembling: means collection of specific type of products from different buyers under a common roof. Standardisation and Grading: Standardisation refers to the process of setting certain norms or standards for a product with regard to shape, size, color, quantity, quality, weight etc. It helps in ensuring that product confirms to standards.

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Grading: refers to the process of classification of products into different categories on the basis of quality, size etc. Grading is done generally for agricultural products-fruits and vegetables. Graded products are of uniform quality and it becomes easy to market. Branding: A brand is a name, sign, symbol, design assigned to a product so as to differentiate it from products of competitors. It helps in identification of products It helps in ensuring quality. It helps in product differentiation, It helps in building image (goodwill) in the market. It helps in advertising of firms products. It helps in introducing new product . It helps a firm to charge different prices for its products. . Prepared by Rajiv Mediratta

Examples LG Lux, Nano, Parker, Colgate, Parle ji

7.Packaging: Packaging is the act of designing and producing the package for a product. A package is a wrapper or container in which a product is kept. Packaging performs the following functions: Packaging reduces the risk of spoilage, breakage etc.in the process of transportation. Packaging helps in product identification. Packaging speaks about the product i.e. .Self Promotional tool. It helps in differentiating the product. It makes the product marketable by breaking them into small lots. So consumers can purchase the product according to their requirements. It provides convenience to the consumer in the usage of the products. 7. Labelling: a Label is a carrier of information about the product. Labels are attached on the product package to provide information about the product such as manufacturer of the product, date of manufacture, date of expiry, its ingredients, how to use product and its handling. Functions: It describes the product, its usage, contents, date of manufacture and expiry etc. It helps in grading of the products. It helps in product identification. In supports product promotion. 8. Customer Support Services: In todays competitive environment, customer support services play an important role in marketing. Services such as after sale services, maintenance services, handling customer complaints provides satisfaction to customers and also helps in building product loyalty.

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Promotion: Promotion refers to communication to inform, persuade and influence the prospective customers to buy a product. Tools of promotions are Advertising Personal selling or salesmanship Publicity Sales promotion

10. Physical Distribution: is concerned with making the goods and services available at the right place. It includes 2 important decisions: (i) Channels of Distribution means middleman or intermediaries like wholesaler, agents and retailers which facilitate the movement of goods and services and their title between the point of production and the point of consumption, by performing various marketing activities. (ii) Physical movement of goods from producers to consumers through means of transport, storage and warehousing, inventory control. Prepared by Rajiv Mediratta PGT (commerce)