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(Attempt any four Questions)
Q.1. Market is the sum total of all the potential and actual bayers of a product. Define wit
help of example
Q.2. Marketer is a person who takes more active part in the exchange mechanism.
Generally, it is perceived that a seller is the marketer but it is not necessarily true, as
sometimes the buyer makes more effort in the exchange process what do you think?
Q.3. Production concept, Product concept, selling concept, Marketing concept
concept part of marketing management? Explain with suitable examples.
societal
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Answers
Answer:
What is the question??
Explanation:
Ans 1. market is the set of actual and potential buyers of a product. Originally, the term market stood for the place where buyers and sellers gathered to exchange their goods, such as a village square. Economist use the term to refer to a collection of buyer and sellers who transact in a particular product class, as in the housing market or the grain market. Marketers, however, see the sellers as constituting as industry and the buyers as constituting market. (Kotler, 2005). Thus the sports market consists of sellers such as Adidas, Nike, Puma, Reebok, etc. and all the consumers who buy their sports products.
Ans 2.more active role in the exchange process will be taken as the marketer. Marketing management means management of the marketing function. ... Marketing management involves performance of various functions such as analysing and planning the marketing activities, implementing marketing plans and setting control mechanism.
Ans 3. The production concept-
When the production concept was defined, a production oriented business dominated the market. This was from the beginning of capitalism to the mid 1950’s.
During the era of the production concept, businesses were concerned primarily with production, manufacturing, and efficiency issues.Companies that use the production concept have the belief that customers primarily want products that are affordable and accessible.
The product concept-
This concept works on an assumption that customers prefer products of greater quality and price and availability doesn’t influence their purchase decision. And so company develops a product of greater quality which usually turns out to be expensive.
The selling concept-
Production and product concept both focus on production but selling concept focuses on making an actual sale of the product.Selling concept focuses on making every possible sale of the product, regardless of the quality of the product or the need of the customer.
The marketing concept-
A company that believes in the marketing concept places the consumer at the center of the organization. All activities are geared towards the consumer.A business,aims to understand the needs and wants of a customer. It executes the marketing strategy according to market research beginning from product conception to sales.
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