Marketing Management Class 12 Business Studies Extra Questions

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Marketing Management Class 12 Business Studies Extra Questions. myCBSEguide has just released Chapter Wise Question Answers for class 12 Business Studies. There chapter wise Practice Questions with complete solutions are available for download in myCBSEguide website and mobile app. These test papers with solution are prepared by our team of expert teachers who are teaching grade in CBSE schools for years. There are around 4-5 set of solved Business Studies Test Papers from each and every chapter. The students will not miss any concept in these Chapter wise question that are specially designed to tackle Board Exam. We have taken care of every single concept given in CBSE Class 12 Business Studies syllabus and questions are framed as per the latest marking scheme and blue print issued by CBSE for class 12.

CBSE Class 12 Business Studies Ch – 11

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Practice Questions for Class 12 Chapter 11 Business Studies

Chapter – 11 Marketing Management

Which of the following is a brand name? (1)
1. All of these
2. Asian Paints
3. Nike
4. Woodland
_________________ Activities start after the product has been developed. (1)
1. Marketing
2. Publicity
3. None of these
4. Selling
Which of the following will not affect the choice of channel of distribution? (1)
1. Market factors
2. Trade mark
3. Environmental factors
4. Competitive factors
Which of the following is not a function of marketing? (1)
1. Product designing and development
2. Bending the customers according to product
3. Marketing planning
4. Gathering and analysing market information
Distinguish between ‘Selling Concept’ and ‘Marketing Concept’ of Marketing Management Philosophies on the basis of ‘main focus’. (1)
Why is marketing called a social process? (1)
‘100 gm bottle of sauce free with 1 kg detergent’. State sales promotion technique is involved here? (1)
Arun and Rukun are good friends. After doing a fashion designing course from a reputed institute, they have set up a garment factory in the rural area of Faridabad to manufacture trendy casual wear like jeans, T-shirts, shirts etc. under the brand name ‘Swatantra’. They have employed people from the nearby villages itself in the factory. Moreover, they wish to sell the products through local retailers in the villages and also through ‘Flipkart’.
In the context of above case:
1. Identify the elements of marketing mix being taken into consideration by Arun.
2. Name the two methods of marketing adopted by them.
3. Define the term marketing. (1)
State the meaning of ‘Product Promotion’ function of packaging. (3)
After doing a diploma in entrepreneurship, Farihad started his own confectionary business. He started doing a lot of hard work and used the recipes taught by his grandmother in various preparations. He also learnt many recipes from online sites and television programmes. He decided to keep the price of the products low initially and also informed his customers about the goodness of the items sold by them. However, he didn’t mention on the package of each item weather it contained eggs or not. As a result, vegetarian people became hesitant in buying things from his shop as they had to verbally inquire from him about the inclusion of eggs in the preparation of various items.
In the context of the above case:
1. Name the important aspect related to the marketing of products which has been ignored by Farihad.
2. Explain briefly any three functions performed by the aspect as identified in part (a).
3. Mention the right of consumer being violated by Farihad. (3)
What is meant by advertising? State the role of advertising in marketing. (4)
Define the mean of ‘Marketing’? (4)
Explain any three elements of marketing mix. (5)
Nischay, after completing his masters in computer engineering decided to start his own business. He visited his uncle Mr.Jaiprakash who has been running a successful business in web designing. He shared with Nischay that the main reason for his success in the business lies in his approach to building a lifetime relationship with his clients. Therefore, his business is not only restricted to designing web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievances effectively and doing all this at a profit. He provides these services at competitive prices. Anybody interested in getting web solutions can contact him through his website. Moreover, whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers.
In the context of the above case:
1. Define the term ‘Marketing Management’.
2. Briefly explain the various elements of the marketing mix being pursued by Mr. Jaiprakash by quoting lines from the para. (5)
Explain the following functions of marketing:
1. Gathering and analysing market information;
2. Marketing planning;
3. Customer support services; and
4. Physical distribution. (6)

Chapter – 11 Marketing Management

Answer

1. All of these
  Explanation:
  When the company’s trade name is used, multi product branding is also known as corporate branding, family branding or umbrella branding. Examples of companies that use corporate branding are Microsoft, Samsung, Apple, and Sony as the company brand name is identical to their trade name.
1. Selling
  Explanation:Selling activities start after the product has been developed.The selling activities undertaken by professional sales people include: Generating Sales Leads, Qualifying Leads, Preparing for the Sales Meeting.
1. Trade mark
  Explanation:
  Factors Determining Choice of Channels of Distribution:
  1. Product Related Factors
  2. Company Characteristics
  3. Competitive Factors
  4. Market Factors
  5. Environmental Factor
1. Bending the customers according to product
  Explanation:
  Marketing function types within a larger business might include performing market research, producing a marketing plan, and product development, as well as strategically overseeing advertising, promotion, distribution for sale, customer service and public relations.
Main focus of selling concept is to sell the product while marketing concept focus on consumer needs and satisfaction.
Marketing is called a social process because marketers attempt to match products or services with customer needs and wants for satisfying them at a profit.
‘Product combination” is the sales promotion technique.
1. The elements of marketing mix being taken into consideration by Arun are product and place.
2. The two methods of marketing adopted by them are both direct and indirect marketing.
3. According to JF Pyle. “Marketing is that phase of business activity through which the human wants are satisfied by the exchange of goods and services.”
Packaging simplifies the work of sales promotion. Packing material in the house reminds the consumers constantly about the product. In this way, the packaging performs the role of a passive salesman. Consequently, it increases the sales.
1. The important aspect related to the marketing of products which has been ignored by Farihad is Labelling.Labelling is the display of label in a product. A label contains information about a product on its container, packaging, or the product itself. It also has warnings in it. For e.g. in some products, it is written that the products contain traces of nuts and shouldn’t be consumed by a person who’s allergic to nuts. The type and extent of information that must be imparted by a label are governed by the relevant safety and shipping laws. Labeling is also an important part of the brand of the product and the company. It helps the product stand out in the market, and identifies it as a part of a particular brand. This is important in the era of high and intense competition.
2. The three important functions performed by labelling are :
  1. Describes the product and specifies its contents: Labelling provides information about the core function of the product i.e. how and why the product is likely to be beneficial to the prospective buyer. It educates them about the usage and precautions related to the product. It also gives detailed information about the ingredients of the product.
  2. Helps in identification of the product or brand: The label contains the logo, brand name, tagline, name and address of the manufacturer etc. of the product which helps in easy identification of the product.
  3. Enables grading of products: Different coloured labels are also used by the marketers for grading of the products on the basis of flavours, quality etc. so that the buyers can easily choose a product as per their requirements.
3. The Right to information is being overlooked by the company in the above mentioned case. According to the Right to information, a consumer has the right to get complete information about the product he/she intends to buy including its contents, date of manufacture, date of expiry, price, quantity, directions for use etc. Also, as per law, it is mandatory for the marketers to provide complete information about the product/ service to the buyers.
Advertising is an impersonal form of communication, which is paid for by the marketers (sponsors) to promote some goods or services. It is the most commonly used tool of promotion. Most common modes of advertising are newspaper, television, and radio. Advantages to manufacturers are as follows
1. Provides economies of scale: Large and steady demand enables a manufacturer to sell more and to produce goods on large scale. Mass production on regular basis helps to reduce the costs of production and distribution. Because of its wide reach, the overall cost of advertising gets spread over numerous communication link established.
2. Reduces dependence on middlemen: Advertising helps to establish direct contact between manufacturers and consumers. It is easy to find consumers, as they are made aware of the availability and utility of goods. It is medium through which a large number of people can be reached over a vast geographical area.
Marketing management is the art and science of choosing target market and getting keeping and growing customers through creation delivering and communicating superior customer values managements. Marketing management refers to planning, organising, directing and control of the activities which facilitate exchange of goods and services between producers and consumers or users of products and services.
Marketing mix refers to the set of marketing tools that a firm uses to pursue its marketing objectives in a target market. The four basic elements are known as four P’s-product, price, promotion and place. These are used by the management while formulating marketing plans. The various components of the marketing mix are:The elements of marketing mix must work together and support each other to create the total effect i.e. create the desired market position.
1. Product mix: The product mix refers to important decisions related to the product or services which are offered in the market to satisfy a want or need. Product mix involves decisions regarding developing and producing the right type of products or services for the consumers. Decisions are taken regarding product, range, quality, size, features, packaging, after sale services, branding, warranties etc. Production must satisfy consumer needs and expectations. These decisions play an important role in attracting customers to the product.
2. Price mix: It refers to important decisions related to price levels, pricing strategy and price policies of an organisation. Price is the amount of money paid by a buyer (or received by a seller) in consideration of the purchase of a product or a service. It plays an important role in the marketing of goods. It is often used as a regulator of product’s demand and act as an effective tool during stiff competition. Price affects the revenue and profits of a firm. It is a very crucial element of the marketing mix as customers are highly price-sensitive and the level of price affects the level of demand.
3. Place mix: It includes activities that make firm’s products available to the target customers. It includes decisions about channels of distribution, means of transportation, warehousing, inventory control, etc. Place mix is concerned with linking the sellers and buyers. The choice of channels of distribution depends on the nature of the product, competition, willingness of middlemen and producer’s financial resources.
4. Promotion mix: It refers to informing the customers about the product and persuading them to purchase these products. This job is done by the company through the medium of advertisement, personal selling, sales promotion and public relations. Decisions with regard to all these factors directly influence the sale of the product.
1. Marketing management is “the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value”- Philip Kotler. Marketing management is concerned with the chalking out of a definite programme, after careful analysis and forecasting of the market situations and the ultimate execution of these plans to achieve the objectives of the organisation. Further, their sales plan to a greater extent rest upon the requirements and motives of the consumers in the market. To achieve this objective, the organisation has to pay heed to the right pricing, effective advertising and sales promotion, distribution and stimulating the consumers through the best services. To sum up, marketing management may be defined as the process of management of marketing programmes for accomplishing organisational goals and objectives. It involves planning, implementation and control of marketing programmes or campaigns.
2. The various elements of the marketing mix being pursued by Mr. Jaiprakash are as follows:
  1. Product: “his business is not only restricted to designing web sites according to the specifications of the clients but also providing continuous online assistance to them and handling their grievances’ effectively.”
    A product is anything of value i.e. a product or service offered to a market to satisfy needs or wants. A product includes physical product, after sale service, handling grievances etc. Every marketer needs to constantly review and revise his products in order to enhance customer’s satisfaction and have a competitive edge.
  2. Price: “doing all this at a profit. He provides these services at competitive prices.”
    Price is the monetary value paid in consideration for the purchase of a product or service by a buyer to its seller. It is a very crucial decision for the marketers as consumers are very sensitive to the pricing. The factors affecting price determination are the cost of the product, the utility and demand, the extent of competition in the market, government and legal regulations, pricing objectives and marketing methods used.
  3. Place: “Anybody interested in getting web solutions can contact him through his website. ”
    It is considered an important element of the marketing mix because it includes all those activities that help in making the goods and services available to the prospective buyers in the right quantity, at the right time and in the right condition. Two main decisions involved in physical distribution are physical movement of goods from producers to consumers and choice of channels of distribution.
  4. Promotion: “Moreover, whenever the market is sluggish he tries to create demand by offering short-term incentives to the buyers.”
    Promotion refers to the set of activities undertaken by a marketer to inform the prospective buyers about the product and persuading them to make a purchase. The various components of the promotion mix are advertising, sales promotion, personal selling and public relation.
1. Gathering and Analysing Market Information:
  Gathering and analyzing market information is an important function of marketing. Under it, an effort is made to understand the consumer thoroughly in the following ways:
  1. What do the consumers want?
  2. In what quantity?
  3. At what price?
  4. When do they want (it)?
  5. What kind of advertisement do they like?
  6. Where do they want (it)?
  7. What kind of distribution system do they like?
    All the relevant information about the consumer is collected and analysed. On the basis of this analysis an effort is made to find out as to which product has the best opportunities in the market.
2. Marketing Planning:
  In order to achieve the objectives of an organisation with regard to its marketing, the marketeer chalks out his marketing plan. For example, a company has a 25% market share of a particular product. The company wants to raise it to 40%. In order to achieve this objective the marketer has to prepare a plan in respect of the level of production and promotion efforts. It will also be decided as to who will do what, when and how. To do this is known as marketing planning.
3. Customer Support Service:
  Customer is the king of market. Therefore, it is one of the chief functions of marketer to offer every possible help to the customers. A marketer offers primarily the following services to the customers:
  1. After-sales-services
  2. Handling customers’ complaints
  3. Technical services
  4. Credit facilities
  5. Maintenance servicesHelping the customer in this way offers him satisfaction and in today’s competitive age customer’s satisfaction happens to be the top-most priority. This encourages a customer’s attachment to a particular product and he starts buying that product time and again.
4. Physical Distribution:
  Under this function of marketing the decision about carrying things from the place of production to the place of consumption is taken into account. To accomplish this task, decision about four factors are taken. They are: (i) Transportation, (ii) Inventory, (iii) Warehousing and (iv) Order Processing. Physical distribution, by taking things, at the right place and at the right time creates time and place utility.

Chapter Wise Extra Questions for Class 12 Business Studies

Part -I and Part – II

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