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:-
(Further information related to the above question 6) The management of company Bhasin Limited now realised its folly. In order to rectify the situation it appointed a management consultant -Mukti Consultants - to recommend a restructure plan to bring the company back on the rails. Mukti Consultants undertook a study of the production process at the plant of the company Bhasin Limited and recommended the following changes —
• The company should introduce scientific management with regard to production.
• Production Planning including routing, scheduling, dispatching and feedback should be implemented.
• In order to separate planning from operational management ’Functional foremanship’ should be introduced.
• ‘Work study’ should be undertaken to optimise the use of resources.
• ‘Standardisation’ of all activities should be implemented to increase efficiency and accountability.
• To motivate the workers ‘Differential Piece Rate System’ should be implemented.
(The above changes should be introduced apart from the steps recommended as an answer to Part c - case problem 6 above.) It was expected that the changes will bring about a radical transformation in the working of the company and it will regain its pristine glory.
a. Do you think that introduction of scientific management as recommended by M consultants will result in intended outcome?
b. What precautions should the company undertake to implement the changes?
c. Give your answer with regard to each technique separately as enunciated in points 1 through 6 in the case problem. - Q:-
A major insurance company handled all recruiting, screening and training processes for data entry/customer service representatives. Their competitor was attracting most of the qualified, potential employees in their market. Recruiting was made even more difficult by the strong economy and the ‘jobseeker’s market.’ This resulted in the client having to choose from candidates who had the ‘soft’ skills needed for the job, but lacked the proper ‘hard’ skills and training.
Questions
a. As an HR manager what problems do you see in the company?
b. How do you think it can be resolved and what would be its impact on the company? - Q:-
An organisation provides security services. It requires such candidates who are reliable and don’t leak out the secrets of their clients. What steps should be incorporated in selection process?
- Q:-
How would you characterize the business environment? Explain with examples, the difference between general and specific environment.
- Q:-
Explain the following Principles of management given by Fayol with examples:
a. Unity of direction
b. Equity
c. Espirit de corps
d. Order
e. Centralisation and decentralisation
f. Initiative - Q:-
What is meant by staffing?
- Q:-
Why are rules considered to be plans?
- Q:-
Why is it that organisations are not always able to accomplish all their objectives?
- Q:-
Explain the Principles of Scientific management given by Taylor.
- Q:-
Explain any three principles of Directing.
- All Chapters Of Class 12 Business Studies
- All Subjects Of Class 12