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प्रश्न
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
उत्तर
Combination of variables used by Hayaram to prepare its market offering:
1). Product: In terms of marketing, the product refers to the mix of various tangible and intangible attributes which have a value and can be exchanged. They are capable of satisfying the needs of consumers. Besides physical goods, a product includes services. In other words, in terms of marketing, a product is defined not only in terms of physical product (functional utility) but also in terms of satisfaction or the utility provided to the consumer. Moreover, after sales services such as customer care, addressing consumer complaints and taking feedback are parts of the product
2) Price: Price refers to the amount of money which is paid by a consumer to obtain a product. Price is the most important factor determining the demand for a product. Demand for a product shares a negative relation with its price. The marketers must suitably decide a price by properly analysing the various related factors such as the target customers, pricing range of competitors and goals of the firm. The price which is set must be at par with the value offered by the product. In addition, the firm must offer suitable discounts, offers or incentive schemes.
3) Place: Another important decision to be taken by a firm relates to making the product available to target consumers. In this regard, the firm needs to decide the dealers or intermediaries who enable the distribution of the product. Similarly, decisions regarding inventory, warehousing, storage and transport of goods must also be taken.
4) Promotion: Promotion refers to activities such as advertising and sales techniques undertaken by the firm with the objective of communicating to potential consumers the availability of a product, its features, special qualities and purpose. The product is promoted with the objective of influencing potential customers to purchase the product. An organisation must decide which medium of promotion must be used and accordingly take the required actions.
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संबंधित प्रश्न
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.
Explain the following function of marketing:
Standardisation
Distinguish between the product concept and production concept of marketing.
What is marketing concept? How does it help in the effective marketing of goods and services.
Differentiate between the traditional concept of marketing and the modem concept of marketing.
What is marketing? State two features of the modern concept of marketing?
Write short notes on: Marketing research.
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 | ||
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 |
Explain the following term/concept.
Place Concept of Market
Explain the following term/concept.
Commodity Concept of Market
Define Marketing.
The area concept of market is related to exchange concept.
The term market is derived from the ___________ word ‘Mercatus’.
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 |
According to the modern marketing concept, which of the following statements is true?
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 ______.
The marketing concept is based on which of the following points.
Which concept of marketing emphasise on availability and affordability of the product?
Customer orientation is a modern approach to marketing.
