Dear Class 12 Samacheer Kalvi students, here are the text book solutions for Chapter 14, Marketing and Marketing Mix in Commerce for your reference.
I. Choose the Correct Answers:
| 1. The initial stage of Marketing system is ____________ |
| a) Monopoly system |
| b) Exchange to Money |
| c) Barter system |
| d) Self producing |
| 2. Who is supreme in the Market? |
| a) Customer |
| b) Seller |
| c) Wholesaler |
| d) Retailer |
| 3. In the following variables which one is not the variable of marketing mix? |
| a) Place Variable |
| b) Product Variable |
| c) Program Variable |
| d) Price Variable |
| 4. Marketing mix means a marketing program that is offered by a firm to its target ______________ to earn profits through satisfaction of their wants. |
| a) Wholesaler |
| b) Retailer |
| c) Consumer |
| d) Seller |
| 5. Which one is the example of Intangible product? |
| a) Education |
| b) Mobiles |
| c) Garments |
| d) Vehicles |
II. Very Short Answer Questions:
1. What is Marketing?
Marketing is the performance of buying activities that facilitate to more flow of goods and services from producer to ultimate user.
2. Define Marketing Mix.
In the words of Mr. Jerome McCarthy, “Marketing mix is a pack of four sets of variables namely product variable, price variable, promotion variable, and place variable”.
3. What is meant by Grading?
Grading means classification of standardized products in to certain well defined classes.
III. Short Answer Questions:
1. What are the objectives of marketing?
The objectives of marketing are:
i. Intelligent and capable application of modern marketing policies.
ii. To develop the marketing field.
iii. To develop guiding policies and their implementation for a good result.
iv. To suggest solutions by studying the problems relating to marketing.
v. To find sources for further information concerning the market problems.
vi. To revive existing marketing function, if shortcomings are found.
vii. To take appropriate actions in the course of action.
2. What are the concept of marketing?
The following are the concepts of marketing:
| What I can sell? | Make what you can sell, but do not try to sell what you can make. |
| Shall I first create products? | No, first create a customer, then create products. |
| Shall I love my products? | No, love your customers and not the products. |
| Who is supreme in markets? | Customer is supreme or king. |
| Who will shape my decisions? | Customer’s preferences shape your decisions. |
3. What do you mean by marketing mix? Write any two elements.
Marketing mix means a marketing programme that is offered by a firm to its target consumers to earn profits through satisfaction of their wants. Such a marketing programme is a mixture of four ingredients, namely Product mix, Price mix, Place (Distribution)mix and Promotion mix. Two elements of marketing mix are as follows:
1. Product : Product is the main element of marketing. Without a product, there can be no marketing.
2. Price: Price is the value of a product expressed in monetary terms. It is the amount charged for the product.
IV. Long Answer Questions:
1. Discuss about the Evolution of marketing. (any 5)
Marketing has its own origin, growth and development. Here is how marketing has evolved over the years.
Barter System: The goods are exchanged against goods, without any other medium of exchange, like money.
Production Orientation: This was a stage where producers concentrated on the mass production of goods for the purpose of profit. They cared very little about the customers.
Sales Orientation: This stage witnessed major changes in all the spheres of economic life. The selling became the dominant factor, without any efforts for the satisfaction of the consumer needs.
Marketing Orientation: Customers’ importance was realised but only as a means of disposing of goods produced. Competition became more stiff. Aggressive advertising, personal selling, large scale sales promotion etc. are used as tools to boost sales.
Consumer Orientation: Under this stage only such products are brought to the markets that are capable of satisfying the tastes, preferences and expectations of the consumers’ satisfaction.
2. Narrate the Elements of Marketing mix.
There are 4 elements of marketing mix.
1. Product
Product is the main element of marketing. Without a product, there can be no marketing.
2. Price:
Price is the value of a product expressed in monetary terms. It is the amount charged for the product.
3. Place (Physical Distribution)
An excellent quality product, with a competitive price structure, backed up by efficient promotional activities, will be a waste if it is not moved from the place of production to the place of consumption at an appropriate time. The place element of product mix facilitates the movement of products from the place of manufacture to the place of consumption at the right time.
4. Promotion
An excellent product with competitive price cannot achieve a desired success and acceptance in market, unless and until its special features and benefits are conveyed effectively to the potential consumers.
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