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Question
The market may be defined as aggregate demand by potential buyers for a product or service.
Options
True
False
Solution
This statement is True.
RELATED QUESTIONS
Ginika, Tanish and Rohit were friends from college days and now they are doing different kinds of business. They regularly meet and discuss their business ideas and exchange notes on customer satisfaction, marketing efforts, product designing, selling techniques, social concerns etc.
In one of such meetings, Ginika drew the attention of Tanish and Rohit towards the exploitation of consumers. She told that most of the sellers were exploiting the consumers in various ways and were not paying attention towards the social, ethical and ecological aspects of marketing, whereas she was not doing so.
Tanish told that they were under pressure to satisfy the consumers, but stated that the consumers would not buy or not buy enough unless they were adequately convinced and motivated for the same.
Rohit stressed that a company cannot achieve its objectives without understanding the needs of the customers. It was the duty of the businessmen to keep consumer satisfaction in mind because business is run by the resources made available to them by the society. He further stated that he himself was taking into consideration the needs of the customers.
Identify the various types of thinking that guided Ginika, Tanish and Rohit in the making efforts of their business. Also. state one more feature of the various types of thinking identified that is not given in the above para.
What is the societal concept of marketing?
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 modem concept of marketing.
What is marketing? State two features of 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 | ||
The term market is derived from the Latin word 'Mercatus'.
______ is the place where transaction of buying and selling of goods and services take place in exchange for money or money's worth.
Explain the following term/concept.
Commodity Concept of Market
Define Marketing.
Explain in detail the concepts of marketing.
What is Marketing?
The marketing concept is based on which of the following points.
Explain the following function of marketing:
Grading
Find the odd one:
Customer orientation is a modern approach to marketing.
