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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
What do your mean by marketing ? |
| Answer» Marketing refers to a social process where by people exchange goods and services for money or for something of value to them. | |
| 102. |
Who is customer ? |
| Answer» Customer refers to the person or organisation that seeks satisfication of his needs and wants. A customer is also known as the seeker of satisfication. | |
| 103. |
Who is marketer ? |
| Answer» Marketer refers to a person, who takes a more active part in the process of exchange. | |
| 104. |
Who is a marketer? |
| Answer» A marketer is a person whose duties include the identification of the goods and services desired by a set of consumers, as well as the marketing of those goods and services on behalf of a company. | |
| 105. |
Name the non-paid form of communication of information about the products. |
| Answer» Correct Answer - Publicity. | |
| 106. |
Which concept of marketting suggest that the organisation earn profit through volume of production? |
| Answer» Production concept. | |
| 107. |
Natural products has been used by Indians for ages. It was prepared manually by mixing many ingredients and there was not a ready made solution. Shahnaj Hussain saw the opportunity and made distinct categories of skin, body and hair care prdocuts and made them available in jars, dispensers, bottles and then also came up with sachets. This availabilty of innovational packages has led to the success of the company. `(i)` Identify the element of product mix and the importance of the element discussed here. `(ii)` Give one function performed by the element. |
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Answer» Packaging refers to wrapping, crating, filling or compressing of goods to protect them from spoilage, pilferage, breakage, leakage, etc. Various kinds of goods are placed or packed into appropriate containers for protection and convenient handling. Bulky materials like cotton and jute are compressed into bales. Liquid materials like oil and wine are put into bottles, barrels and heavy goods are created and fragile products are placed in boxes, tins or special containers. On the other hand, packaging involves designing and producing appropriate packages for products. It is concerned with the determination of convenient size-lots in which the product is to be put in the market and the creation of proper packages for different lot sizes. The importance of packaging `(i)` It provides innovational opportunity. `(ii)` It provides protection to the product. |
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| 108. |
Describe the functions of labelling in the marketting of products. |
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Answer» Labelling is a part of branding and enables product identification. It is a printed information that is bonded to the product for recognition and provides detailed information about the product. Functions of Labelling: The different functions of labelling are as follows: `i)`Defines the product and its contents: A label is informative about the product’s usage and caution to be taken while using the product. Example, Red Label Natural Care tea mentions five ingredients in its label that provide immunity. `ii)`Recognition of product: Labeling assists in the identification of the product. Example, the brand name of a chocolate will help one choose from the rest of the confectionery items available. `iii)`Assorting of products: It means classification or grading of products according to different categories in the market. Example, shampoos are categorized as dry hair, normal hair and oily hair types and cater to consumers in the market with the dry, normal and oily scalp, respectively. `iv)`Assists promotion of products: It gives the customer the reason to purchase the product. Example, it attracts the attention of the consumer by displaying messages such as ‘20% free’ or ‘save rupees 15’ message in potato chips packet. |
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| 109. |
Distinguish between the product concept and production concept of marketting. |
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| 110. |
Advertisements stimulates competition in the market. Do you agree ? Give reason in support of your answer. |
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Answer» Yes, advertising stimulates competition in the market place. It helps the companies to show its worth and quality of products in front of the prospective buyers. `(i)` It informs potential customers about a product and assures them about its quality and features. `(ii)` It is the most attractive and forceful promotional tool. `(iii)` It is an econimical mode of communication, by which companies reach the masses. |
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| 111. |
Product is a bundle of utilities. Do you agree? Comment. |
| Answer» Yes, product is a bundle of utilities, which is purchased because of its capability to provide satisfaction of certain need. A buyer buys a product or service for what it does or service for what it does for her or the benefits it provides. | |
| 112. |
Good living Ltd. Manufactures mosquito repellent tablets. These tablets re packed in strips of 12 tablets each. Each of these strips are packed in a cardboard box, 48 such boxes are then placed in a big corrugated box and delivered to various retailers for sale. State the purpose of packaging the tablets in a corrugated box. |
| Answer» The Packaging of tablets in a corrugated box is necessary for the purpose of storage, Identification and transportation. | |
| 113. |
Good Living Ltd. Manufactures mosquito repellent tablets. These tablets are packed in strips of 12 tablets each. Each of these strips are packed in a cardboard box, 48 such boxes are then placed in a big corrugated box and delivered to various retailers for sale, State the purpose of packaging the rablets in a corrugated box. |
| Answer» The packaging of tablets in a corrugated box is necessary for the purpose of storage, identification and transportation. | |
| 114. |
Identify the type of products in the following cases and given one example of each type. `(i)` Purchase of goods, in which buyers devote considerable time to compare quality, price and style. `(ii)` Consumer products, which are purchased frequently, immediately and with least time and efforts. `(iii)` Consumer goods having attained brand loyalty with some specific features because of which people make more efforts in their purchase. |
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Answer» The consumer products are classified as follows : `(i)` Shopping products :They are the products that require considerable time and effort. E.g. Jewellery, television, etc. `(ii)` Convenience products: These products require minimum time and effort and are purchased frequently by the customers e.g. Bread, butter, salt, etc. `(iii)` Speciality products: These products have certain special features, due to which the buyers are willing to spend a lot of time and effort. e.g. Designer clothes, antique jewellery, etc. |
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| 115. |
The organisation has to deal with government officials and different ministers in charge of corporate affairs, industry, finance with respect to policies relating to business and the economy. The government also seeks to maintain a healthy relationship with associations of commerce and industry and solicits the opinion of major stakeholders while formulating industrial, telecom,taxation policies, etc. The public relations department then has to be really proactive in promoting or decoding or decoding regulations that affect them. Identify the function of the public relations department highlighted above. |
| Answer» Correct Answer - Lobbying | |
| 116. |
How is advertising a non-personal presentation? |
| Answer» Advertising is a non-personal presentation, as there is no direct face-to-face contact between the advertiser and the prospect. | |
| 117. |
What is the cause of low effectiveness in advertising ? |
| Answer» Low effectiveness in advertising is because of its increasing frequency and lack of attention of viewers, advertising has turned out to be less effective. | |
| 118. |
State some of the criticisms against advertising. |
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Answer» Criticisms against advertising are : `(i)` It undermines social values. `(ii)` It encourages sale of inferior goods. |
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| 119. |
Medi instruements Ltd. Is a company dealing in the distribution of medical instruements. The company recently imported `15000` units of sugar testing machines to test the sugar level without taking blood samples. For deciding the marketing strategy, the chief Executive Officer of the company called a meeting of the marketing heads of different zones. In the meeting, Sanjay, the North Zone Marketing Head, suggested that since the machines were sophistcated they need to visit hospitals personally to explain its working to the hospital staff who would be using the machines. He also suggested that additional trained people may be recruited for the same. Hitesh another Zonal Head, added that since lot of money had been spent on the import of the machines, the company was short of funds to pay the additional staff, as suggested by Sanjay. Revansh, newly apponited Zonal Head of South Zone, suggested that since the size of the order was not large a detailed study of the factors determining the choice of channels of distribution was required before making the right choice. Identifed the factors influencing the choice of channels of distribution which were discussed in the meeting. |
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Answer» The factors influencing choice of channels of distribution discussed here as : `(i)` Product related factor : Product complexity Since the product marketed by the company require technical detalling by the personnel, shorter channels of distribution will be preferred. As aganist this, non-complex products usually prefer longer channels. `(ii)` Company related factor : Financial strength Since the company is running short of funds, it may make use of indirect channels of distribution. If the financial position of the company had been strong direct channels could have been used. `(iii)` Competitive factor : Size of the order In the given case, the size of the order is not very large, therefore the company may prefer longer channels of distribution. If the order would have been large, direct channels could have been used. |
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| 120. |
Medi instruements Ltd. Is a company dealing in the distribution of medical instruements. The company recently imported `15000` units of sugar testing machines to test the sugar level without taking blood samples. For deciding the marketing strategy, the chief Executive Officer of the company called a meeting of the marketing heads of different zones. In the meeting, Sanjay, the North Zone Marketing Head, suggested that since the machines were sophistcated they need to visit hospitals personally to explain its working to the hospital staff who would be using the machines. He also suggested that additional trained people may be recruited for the same. Hitesh another Zonal Head, added that since lot of money had been spent on the import of the machines, the company was short of funds to pay the additional staff, as suggested by Sanjay. Revansh, newly apponited Zonal Head of South Zone, suggested that since the size of the order was not large a detailed study of the factors determining the choice of channels of distribution was required before making the right choice. Also, explain briefly the other consideration to be taken care of in each factor identified in part (1). |
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Answer» The other consideration related to each of the factor identified above are : `(i)` Product related factor : Nature of the product While industrial goods are usually technical, made to order and expensive products purchased by few buyers, they require shorter channels. Whereas, consumer goods which are standardised, non-expensive, less bulky and frequently demanded, require longer and indirect distribution channels. `(ii)` Company related factor : Degree of control If the management wants to have greater control over distribution, shorter or direct channels will be preferred, and vice-versa. `(iii)` Market factor : Number of buyers When the number of buyers is small and concentrated in a small place, shorter channels may be used. But, if the number of buyers is large and market is widespread, longer channels shoudl be preferred. |
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| 121. |
Mediqup Ltd. Is a company dealing in distribution of medical equipments. The company recently imported 15000 units of sugar testing machines to test the sugar levels without taking blood samples. For deciding the marketing strategy, the chief Executive Officer of the company called a meeting of the marketig heads of different zones. In the meeting, Sandeep, the North Zone Marketting Head, suggested that since the machines were sophisticaed they need to visit hospitals personally, to explain its working to the hospital staff who would be using the machines. He also suggested that additionla trained people may be recruited for the same. Himanshu, another Zonal Head, added that since lot of money had been spent on the import of the machines, the company was short of funds to pay to the additional staff as suggested by Sandeep. Rahul, a newly appointed Zonal Head of South-Zone suggested that since the size of the order is not large, a detailed study of the factors determining the choice of channels of distribution is required before making the right choice. a) Identify the factors influencing the choice of channels of distribution which were discussed in the meeting. Also, explain briefly the other consideration to be taken care of in each factor idenfied in part a). |
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Answer» a) Factors affecting choice of channels of distribution which were discussed in the meeting: i) Product related factors. ii) Company characteristics. iii) Market related factors. b) Other considerations to be taken care of in each of the factors identifeid above are: i) Product related factors (Any one). a) Nature of the product. b) Perishability of product. c) Unit value of of Product. ii) Company characteristics. a) Degree of control over channel members. iii) Market related factors. (any one) a) Geographical concentration of potential buyers. b) Size of the market. |
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| 122. |
Name the element of marketing mix in which a set of firms create possesion, place and time utility ? Also explain any five important functions performed by this element. |
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Answer» Physical Distribution Physical Distribution is concerned with making the goods and services available at the right place, so that people can purchase the same. There are two important decisions related to physical distribution. They are `I`. Channels of distribution `II`. Physical movement of goods `I.` Channels of Distribution Channels of distribution are set of individuals and firms that take title or assist in transferring title, of particular goods and services as they move from producers to consumers. It refers to a team of merchants, agents and business institutions that combine physical movement and title movement of products. Functions of channels of Distribution Channels of distribution smoothen the flow of goods by creating possession, place and time utilities. Some important functions performed by them are : `(i)` Sorting It refers to the process of sorting the product two homogenous groups on the basis of size, quality, features and price. `(ii)` Accumulation It refers to the process of accumulation of goods into larger homogeneous stocks. This helps to maintain a continuous flow of supply. `(iii)` Allocation It involves breaking homogeneous stocks into smaller, marketable lots. This helps in making sales easily according to different requirements of different buyers. `(iv)` Assorting It refers to the process of combining various goods of the same line of product, for sale to customers such as a cricket kit containing a bat, a ball, gloves, wickets, stumps, helmet and leg guards. `(v)` Product promotion Middlemen helps in the promotion of product by organising demonstrations, displays, contest, promotional events, etc. This helps in increasing the sale of products. `(vi)` Negotiation Intermediaries usually discuss and decide the terms and conditions of sale, by negotiating the price, quality, guarantee, terms and conditions of delivery and payment, etc. `(vii)` Risk-taking Middleman usually bear risks on account of price and demand fluctuations, spoilage, destruction, etc, during the process of exchange. |
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| 123. |
Name the element of marketing mix which is concerned with making the goods and services available at the right place. |
| Answer» Correct Answer - Place Mix | |
| 124. |
What is meant by packaging ? State any four functions of packaging ? |
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Answer» Packaging refers to the act of designing and producing the container or wrapper of a product. Various kinds of goods are placed or packed into appropriate containers for protection and convenient handling. Thus, packaging implies placing products in suitable packages for delivery of the product to customer or for the purpose of storage and transport. Packaging is not limited to faciliating use and protection of the product, but also helps in product indentification and promotion of the product. Functions of packaging `(i)` Product identification The package of a product helps the customer to easily identify the product in the market. e.g. Red Label tea in a red colour packing. Taj Mahal tea in blue box pack, etc. `(ii)` Product Protection The package of a product protect it from spoilage, breakage, pilferage, leakage, damage etc. e.g. Oil in plastic bottles. `(iii)` Facilitating use of the product The package of a product helps the consumer to open, handle and use the product more conveniently, e.g. toothpaste tubes, handwash soap dispenser. etc. `(iv)` Product Promotion An attractive package attract the attention of people and at the same time, provides detailed information about the product. e.g. Ferrero rocher chocolates. |
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| 125. |
Name that element of marketing mix which affects the revenue and profits of a firm. Explain any six factors which help in determining this element. |
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Answer» Price mix is the element of marketing mix which affects the revenue and profits of a firm. Factors affecting Pricing: 1.Product Characteristics:By product characteristics, we mean numerous factors, i-e, the product life cycle, the product Perishability, the product substitution and demand postponability or the magnitude of the resistance. 2.Product Cost:The second factor, the most important in determining price, is the cost of the product itself. While making marketing strategy, the decision makers should attempt to optimise the cost. The cost optimisation helps in determining reasonable price which provide equitable return on the cost employed vis-a-vis suits the customers’ buying power. In order to optimise the cost of the product, the decision makers should study different types of cost, viz., fixed cost, variable cost, and incremental cost. 3.Objectives of the Firm:The objectives set by the firm also influence the prices of its products. For example, if the firm adopts skimming objectives, then the price would generally be high. On the contrary, if the firm adopts the market penetration as its objective, the price would normally be low. 4.Competitive Situation:The magnitude of competition existent in the market also affects prices. If the marketing manager finds that the magnitude of competition is high, prices tend to be normally high. On the contrary, in the situation of low competition, the prices would be higher due to favourable market environment. 5.Demand for the Product:The fact remains that among the various factors, the demand for the product concern is found exceptionally instrumental in guiding the pricing decisions. As per the law of demand, if there is more demand for the product, prices will be high and if there is low demand for the product, prices will be low. However, essential goods like salt are exception to this law of demand in affecting the price of the product. 6.Customers’ Behaviour:In making pricing decisions, the study of customers’ behaviour bears significant relevance. Of late, the behavioural scientists have gravitated increasing attention on the behavioural science. They feel that an in- depth study of the customers’ behaviour would help diagnose the reactions of the customers regarding a product. While studying consumers, they should be traced out into specific groups in line with market segmentation, For example, if the marketing manager has to deal with the industrial consumer, the pricing decisions would be different. On the other hand, if he has to deal with the general consumers, the pricing decisions would be somewhat distinct. |
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| 126. |
Explain the role of advertising marketing management. |
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Answer» The role of advertising marketing management. 1. Awareness:One of the important roles of advertising is to create awareness of the product or services such as brand name and price. The awareness of the product or services can be created through highlighting the unique features of the brand. Nowadays, due to intense competition it is not just enough to create awareness, but top of mind awareness is needed. 2. Information:Advertising helps to inform the target audience about the product. Providing information is closely related to creating awareness of the product. Potential customers must know about a product, such as product features and uses. 3. Persuasion:When business firms offer similar products, the firm must not only inform the customers about the product’s availability, but also persuade them to buy it. Through persuasive messages, the marketers try to provide reasons regarding the superiority of their products as compared to others available in the market. Persuasion can be undertaken through creative advertising messages, product demonstration at trade fairs, offering free gifts, premium offers and organizing contests. 4. Attitudes:Promotion is required to build or reinforce attitudes in the minds of target audience. The marketers expect the target audience to develop a favourable attitude towards their brands. Positive attitude towards the brand helps to increase its sales. Through promotional techniques like advertising, the marketer can correct negative attitude towards the product, if any. Negative attitude can also be corrected through public relations and advertising. 5. Reminder:If target customers already have a positive attitude towards a firm’s product or service, then a reminder objective may be necessary. The reminder objective is necessary because the satisfied customers can be targets for competitors’ appeals. Well-established brands need to remind the customers about their presence in the market. For instance, ‘Raymond – the complete man’ campaign is designed to remind the customers. 6. Brand Loyalty:Advertising helps to develop brand loyalty. Brand loyalty results in repeat purchases and favourable recommendations to others by existing customers. Sales promotion, effective personal selling, timely and efficient direct marketing, and other techniques help to develop brand loyalty. |
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| 127. |
Abhinav Mehta, Marketing Manager of Roop Cosmetics, is facing the problem of poor sales. What made of communciation he can adopt to target the large population ?A. NewspaperB. TelevisionC. RadioD. All of the above |
| Answer» Abihnav Mehta can adopt following forms of communication to advertise his products. These can be-newpaper, television, radio, etc which will help him to target the large population. | |
| 128. |
Explain any four factors, which affect the determination of the price of a product. |
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Answer» Factors affecting Pricing: 1.Product Characteristics:By product characteristics, we mean numerous factors, i-e, the product life cycle, the product Perishability, the product substitution and demand postponability or the magnitude of the resistance. 2.Product Cost:The second factor, the most important in determining price, is the cost of the product itself. While making marketing strategy, the decision makers should attempt to optimise the cost. The cost optimisation helps in determining reasonable price which provide equitable return on the cost employed vis-a-vis suits the customers’ buying power. In order to optimise the cost of the product, the decision makers should study different types of cost, viz., fixed cost, variable cost, and incremental cost. 3.Objectives of the Firm:The objectives set by the firm also influence the prices of its products. For example, if the firm adopts skimming objectives, then the price would generally be high. On the contrary, if the firm adopts the market penetration as its objective, the price would normally be low. 4.Competitive Situation:The magnitude of competition existent in the market also affects prices. If the marketing manager finds that the magnitude of competition is high, prices tend to be normally high. On the contrary, in the situation of low competition, the prices would be higher due to favourable market environment. |
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| 129. |
How does marketing manager react to a situation of reducing demand ? |
| Answer» In case of reducing demand, the job of marketing manager would be to find ways to reduce price, either by reducing expenditure on promotion or implementing cost saving methods of production. | |
| 130. |
"Personal selling creates effective demand which results in increase in income, with increse in income, there will be more products and services, which in turn brings economic growth ". This statement signifies the importance of personal selling toA. businessmanB. customersC. societyD. None of the above |
| Answer» Perosnal selling plays an important role in marketing goods by serving businessman, customers and society. It serves society by converting latest demand into effective demand. | |
| 131. |
State two commodities considered as essential commodities for price fixation by the government. |
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Answer» Two commodities considered as essential commodities are : `(i)` Medicines and drugs `(ii)` LPG |
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| 132. |
What is the main aim of product concept of marketing ? |
| Answer» It lays emphasise on quality of production rather than quantity of production. | |
| 133. |
How does elasticity of demand affect price level ? |
| Answer» If the demand is elastic, price should be set at a lower level and vice-versa. | |
| 134. |
Name the marketting function which is concerned with the important decision of managing inventory. |
| Answer» Correct Answer - Warehousing | |
| 135. |
What does a good inventory decision aim at ? |
| Answer» A good inventory decision aims at timely fulfillment of customers demand at minimum cost. | |
| 136. |
Sara was pursuing her graduation. Everyday she saw her mother working tirelessly at home after coming back from her work-place. She decided to start a tiffin service to increase her family income. To begin with she started supplying tiffin only in the neighbourhood. Everyday she detailed out the menu after consulting her mother. For informing the people about her service she deslgned a beautiful informative pamphlet, got it printed and started distributing it through the daily newspapers. She also appointed two delivery boys to deliver tiffins. The business was slow to begin with but picked-up well afterwards. She was able to earn a profit of 20% of the revenue in the first month. (a) Identify the promotional tool used by Sara to communicate to the customers about her tiffin service. (b) State any three roles of the promotional tool identified in (a) above in marketing of goods and services. |
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Answer» (a) Advertising (b) Role of advertising in marketing |
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| 137. |
Name the marketing function which is concerned with the important decision of managing inventory. |
| Answer» Physical distribution | |
| 138. |
A salesman approaches you to promote the sales of a water purifier. Which communication tool is the marketer using by sending a salesman at your doorstep? |
| Answer» Correct Answer - Personal selling | |
| 139. |
Identify the method of salespromotion in the following cases: (i) A mobile company offers a discount of Rs. 1,000 to clear off excess inventory. (ii) A customer gets Rs. 5 off on return of an empty wrapper while making a new purchase of the same product. (iii) A Company offers pack of ½kg of sugar with the purchase of a 5 kg bag of wheat flour. (iv) A compnay offers 40% of extra shaving cream in a pack of 500 gms. (v) Scratch a card and get a gold coin with the purchase of a cold drink. (vi) Purchase goods worth Rs. 50,000 and get a holiday package with worth Rs. 10,000 free. |
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Answer» (i) Rebate (ii) Refund (iii) Product-combination (iv) Quantity-gift (v) Instant draws and assiigned gift (vi) Usable Benefit |
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| 140. |
"Every time I travelled people asked me to bring them chips. Khakra and pickles from all over the country", says Anoushka. Finally, she and her colleague, Sumeet, decided to make a business out of it. They launched a facebook page, asked peope what they wanted, and they came up with a list of about 100 places and tied up with two dozen vendors to begin with. They were servicing people from jaipur who wanted spices from Kerala, people from Panipat who wanted halwa from Jammu and people from Delhi who ordered from fresh tea leaves from Darjeeling. Through their business they wished to bridge the gap between sellers and buyers. The business is now worth millions. Explain any two important activities that Anoushka and Sumeet will have to be involved in for making the goods available to the customers at the right place, in the right quantity and at the right time. |
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Answer» Activities/Components of Physical Distribution: (Any two) 1) Order processing: A good physial distribution system should provide for an accurate and speedy processing of orders, in the absence of which goods would reach the customers late or in wrong quantity or specifications. 2) Transportation: It is the means of carrying the goods and raw materials from the points of production to the point of sale. It is important because unless the goods are physically utility in them. 3) Warehousing: It refers to the act of storing and assorting products in order to create time utility in them. 4) Inventory control: Higher the level of inventory, higher will be the level of services to customers but the cost of carrying the inventory will also be high because lot of capital would be tied up in the stock. Thus, a balance is to be maintained in respect of the cost and customer satisfications. |
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| 141. |
Mr Rajiv wants to buy LCD T.V. for his family. Now he has come to Jagota electronics, Model Town, after coming to shop he get confused. Write the name of promotion tool which has brought him to the shop and promotion tool needed now. Also write the four points of importance of latter tool. |
| Answer» The just promotion tool which brought Rajiv to the shop is advertisement and the promotion tool required now is personnel selling. For importance of personal selling. | |
| 142. |
Bhuavn is very particular to get his hair out from ABC saloon of South Delhi. Which type of product is it? |
| Answer» Speciality product. | |
| 143. |
What are the different considerations in the mind of consumers of each segment, whole purchasing mobile phones as given in the above case ? |
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Answer» Different considerations in the mid of consumers of each segments, while purchasing mobile phones are : `(i)` Live The first of these segments Live, aimed at first time users, whose basic need is to stay in touch with voice as the main driver. So, here price of the phone is the main consideration. `(ii)` Connect The second segment Connect, looks at more evolved users, who look for more functional features and connectivity.So, here the features of the phone as well as an economic price tag are considered. `(iii)` Achieve The next category is aimed at users who need to have business functionalities. `(iv)` Explore High end life style users which include features like mobile TV, application imaging, music and gaming. |
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| 144. |
What does the marketing management process involve ? |
| Answer» The marketing management process consists of the activities marketing managers do to optimize the marketing mix, including sourcing new marketing mix ideas, implementing them, analyzing the results, and doing it all over again. | |
| 145. |
Give the different classification of markets. |
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Answer» Market can be classified: `*`On the basis of product,markets can be classified as gold market,cotton market,share market,etc. `*`On the basis of geographical region,national or international market. `*`On the basis of types of buyers,consumer or industrial market. `*`On the basis of quantity of goods,retail or wholesale market. |
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| 146. |
State the basis of marketing. |
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Answer» The three main basis of marketing are : `(i)` Market `(ii)` Customer `(iii)` Marketer/Seller |
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| 147. |
State any two examples of services that can be marketed. |
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Answer» Two examples of services that can be marketed are : `(i)` Insurance `(ii)` Business Process Outsourcing |
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| 148. |
State any two features of marketing. |
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Answer» Two features of marketing are : `(i)` Needs and wants. `(ii)` Customer value. |
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| 149. |
Why is grading necessary ? |
| Answer» Grading is an important post-harvest practice for farmers who care about their customers as well as their own reputation on the market. Farmers who practice quality grading can adjust to market demands more easily. For instance, crops that are higher in quality can achieve a higher price. | |
| 150. |
What is a market offering ? |
| Answer» A market offering is a complete offer for a product or service, having certain features like size, quality, taste, etc at a certain price, available at a given outlet or location. | |