Class 12 Business Studies - Chapter Marketing NCERT Solutions | What is marketing concept? How does it h
What is marketing concept? How does it help in the effective marketing of goods and services.
Marketing orientation implies that focus on satisfaction of customer’s needs is the key to the success of any organisation in the market. It assumes that in the long run an organisation can achieve its objective of maximization of profit by identifying the needs of its present and prospective buyers and satisfying them in an effective way. All the decisions in a firm are taken from the point of view of the customers. In other words, customer’s satisfaction becomes the focal point of all decision making in the organisation.
The marketing concept is based on the following pillars:
- Identification of market or customer who are chosen as the target of marketing effort.
- Understanding needs and wants of customers in the target market.
- Development of products or services for satisfying needs of the target market.
- Satisfying needs of target market better than the competitors.
- Doing all this at a profit.
Thus, marketing concept helps in effective marketing of goods and services. For example, what product will be produced, with what features and at what price shall it be sold, or where shall it be made available for sale will depend on what do the customers want. If the customers want features like double door in a refrigerator or a separate provision for water cooler in it, the organisation would produce a refrigerator with these features, would price it at a level which the customers are willing to pay and so on. If all marketing decisions are taken with this prospective, selling will not be any problem. It will automatically follow
More Questions From Class 12 Business Studies - Chapter Marketing
- Q:-
What are the factors affecting determination of the price of a product or service? Explain.
- Q:-
A marketer of colour TV having 20% of the current market share of the country aims at enhancing the market share to 50 per cent in next three years. For achieving this objective he specified an action programme. Name the function of marketing being discussed above. (Ans. Marketing planning.)
- Q:-
What is marketing mix? What are its main elements? Explain.
- Q:-
For buyers of consumer durable products, what ‘customer care services’ would you plan as a manager of a firm marketing new brand of motorcycle. Discuss.
- Q:-
How does branding help in differential pricing?
- Q:-
Discuss the role of intermediaries in the distribution of consumer non-durable products.
- Q:-
Distinguish between convenience product and shopping product.
- Q:-
What are industrial products? How are they different from consumer products? Explain.
- Q:-
What information is generally placed on the package of a food product? Design a label for one of the food products of your choice.
- Q:-
Product is a bundle of utilities. Explain.
Popular Questions of Class 12 Business Studies
- Q:-
How does planning provide direction?
- Q:-
What is meant by staffing?
- Q:-
Identify the network of social relationships which arises spontaneously due to interaction at work.
- Q:-
What is informal communication?
- Q:-
State the meaning of controlling.
- Q:-
What is meant by capital structure?v
- Q:-
What is meant by management?
- Q:-
What is a Treasury Bill?
- Q:-
What makes principles of management flexible?
- Q:-
Under which consumer right does a business firm set up consumer grievance cell?
Recently Viewed Questions of Class 12 Business Studies
- Q:-
‘Planning is looking ahead and controlling is looking back.’ Comment.
- Q:-
Explain the various Money Market instruments.
- Q:-
A firm plans in advance and has a sound organisation structure with efficient supervisory staff and control system but on several occasion it finds that plans are not being adhered to. It leads to confusion and duplication of work. Advise remedy.
- Q:-
What are the main objectives of financial management? Briefly explain.
- Q:-
“Capital structure decision is essentially optimisation of risk-return relationship.” Comment.
- Q:-
What are the objectives of SEBI?
- Q:-
A company, Xylo limited, is setting up a new plant in India for manufacturing auto components. India is a highly competitive and cost effective production base in this sector. Many reputed car manufacturers source their auto components from here. Xylo limited is planning to capture about 40% of the market share in India and also export to the tune of at least ` 50 crores in about 2 years of its planned operations. To achieve these targets it requires a highly trained and motivated work force. You have been retained by the company to advise it in this matter. While giving answers keep in mind the sector the company is operating.
Questions:
a. Outline the process of staffing the company should follow.
b. Which sources of recruitment the company should rely upon. Give reasons for your recommendation.
c. Outline the process of selection the company should follow with reasons. - Q:-
In an attempt to cope with Reliance Jio’s onslaught in 2018, market leader Bharti Airtel has refreshed its ₹ 149 prepaid plan to offer 2 GB of 3G/4G data per day, twice the amount it offered earlier. Name the type of plan is highlighted in the given example. ? State its three dimensions also.
- Q:-
Enumerate the various Acts passed by the Government of India which help in protection of consumers’ interests.
- Q:-
Krishna Furnishers Mart started its operations in the year 1954 and emerged as the market leader in the industry because of their original designs and efficiency in operations. They had a steady demand for their products but over the years, they found their market share declining because of new entrants in the field. The firm decided to review their operations and decided that in order to meet the competition, they need to study and analyze the market trends and then design and develop their products accordingly. List any two impacts of changes in business environment on Krishna Furnishers Mart’s operations. (Hint: increase in competition and Market orientation).
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12