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Commerce > Lesson 1 > Flashcards

Lesson 1 Flashcards

1
Q

Type of economy where market play a important role/.

A

Free enterprise.

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2
Q

_____,____ and _____ affect the demand.

A

Resources, Activities and Attitudes.

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3
Q

Geographical Area ->

A
  1. Local
  2. Regional
  3. National
  4. International
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4
Q

Volume of Business ->

A

Wholesale and Retail

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5
Q

Subject of exchange ->

A

Commodity, Capital and Money

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6
Q

Position of Buyers and Sellers ->

A

Primary, Secondary and Terminal.

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7
Q

Nature of transactions

A

Spot and Future

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8
Q

Nature of goods

A

Consumer’s and Producer’s

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9
Q

Which are kept in showroom in catalogue market?

A

Catalogue (details of goods and prices) and Samples.

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10
Q

Catalogue show rooms cut ______ and _______ to attract a higher volume of sales.

A

Costs and Margins.

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11
Q

Which offers great convenience to customers?

A

In-House market

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12
Q

Which is a time consuming and Costly method?

A

In-House Market

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13
Q

Party method.

A

In-house Market

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14
Q

Television is a popular medium for _____ Marketing.

A

Direct.

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15
Q

_______ shopping is very convenient and cost-effective, Saves time.

A

Television.

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16
Q

Stages in Network Market ->

A

Distributors -> Sub-Distributors -> Persons to sell the product at the home of customers.

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17
Q

Another name for Network Market

A

Amway Pioneered or Multi-Level Marketing.

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18
Q

_______ provides wide reach and reduce costs.

A

Network Market.

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19
Q

In which market Products not available in retail outlets maybe can be made available?

A

Network Market.

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20
Q

Customers saves ___ and ______ involved in shopping in network marketing.

A

Cost and Time.

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21
Q

Marketing is both a _____ and ______ process.

A

Managerial and Social

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22
Q

Marketing is ______ and _______-Oriented

A

Customer and Goal

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23
Q

_______ is the focus of marketing.

A

Customers.

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24
Q

Inputs are drawn from ______-system and coverted into ________/

A

Supra (society) and want satisfaction.

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25
Q

Marketing is a part of total environment implies

A

It is a dynamic process.

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26
Q

Marketing creates ____ , ______ and _____ utilities.

A

Place, Time and Possession

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27
Q

_______ process is the essential element in marketing.

A

Exchange

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28
Q

Marketing is art as well as science implies

A

It is inter-disciplinary.

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29
Q

Ideas and Programmes of social use ->

A

Social Marketing.

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30
Q

First and Foremost objective of marketing ->

A

Consumer Satisfaction.

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31
Q

Marketing starts with

A

Identification then Understanfing.

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32
Q

Organizational Integration

A

Customer-Oriented philosophy.

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33
Q

Profitability ->

A

Earn Profits by creating and satisfying customers.

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34
Q

3 broad stages of marketing:

A
  1. Subsistence level
  2. Self-Sufficiency
  3. Modern
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35
Q

Which gave way to barter system?

A

Self-Sufficiency.

36
Q

The motto of production stage

A

“Sell what can be produced”
Say’s law: Supply creates its own demand.
“Customers search well-built and and reasonably priced goods (low-priced and easily available)”

37
Q

____ was the focus of attention in production stage -> Communication was not needed.

A

Product

38
Q

_______ oriented stage was characterized by _____ production and ______ distribution.

A

Production; Mass;

39
Q

_____ and _____ departments shaped the company’s goal in production stage.

A

Production and Engineering

40
Q

Marketing in 1914 consisted of ______

A

Mere distribution and Sales department.

41
Q

Supply and Demand in production oriented ->

A

Demand Excceds supply.

42
Q

Growth of corporate ->

A

Sales Oriented Stage.

43
Q

Motto of Sales stage->

A

“Get Rid of what you have”

“Increase sales rather than customer satisfaction”

44
Q

Marketing in sales stage ->

A

Salesmanship.

45
Q

Customer importance in sales stage->

A

Only to dispose goods.

46
Q

Sales stage is used in

A

Insurance, Charity fund raising and unsought practices.

47
Q

Shift from promotion to product improvement in

A

Product-Oriented

48
Q

Marketing Myopia is

A

Product-oriented

49
Q

“Push product into the market” Strategy is

A

Production-oriented

50
Q

Profits through disposal

A

Production-Oriented

51
Q

Aggressive selling ->

A

Sales oriented

52
Q

To create demand

A

Sales-Oriented

53
Q

Marketing became ____ and consumer became ___ in

A

Heartbeat(later called nerve-centre) and King

54
Q

Intersts of target market and deliver them efficiently

A

Societal Marketing Stage

55
Q

PrMarketing is dynamic process is known byoper marketing mix ->

A

Marketing oriented stage.

56
Q

Product and Distribution was focussed in

A

Production-Oriented

57
Q

Marketing is ___ and ____ of business.

A

Eye and Ear

58
Q

If and only if there is marketing, it is a _________. This was said by _____________.

A

Business. Drucker.

59
Q

Compare the marketing in developed country and India

A

Marketing is more developed in developed countries.

60
Q

Product has shape and size comes under

A

Tangibility of Product.

61
Q

Package, Brand Name, Warranty comes under

A

Associated attributes of the product.

62
Q

Every product is meant to satisfy some human ______

  1. Want
  2. Need
  3. Demand
A
  1. Need
63
Q

Which of the type of industrial products contain farm and natural products:

A

Raw Materials. Wheat, Cotton, Milk and Coal

64
Q

Services can’t be stored in future comes under

A

Perishability

65
Q

Produced and Consumed at the same time comes under

A

Inseperability

66
Q

Services can be rarely be standardized or made uniforms.

A

Variability (opp. to homogeneity)

67
Q

All the types of services

Mission Impossible

A
  1. Financial
  2. Insurance
  3. Transport
  4. Warehouse
  5. Communication
  6. Food and lodging
  7. Entertainment
  8. Personal Services
  9. Repair Service
68
Q

Product is ____ based and Services are _____ based

A

Technology and Person.

69
Q

According to market relationship differentiation, ____ and ____ are the focus of transaction for product, but ______ for service

A

Product and Brand. Very Important Link.

70
Q

3 additional mix for service ->

A

People, process and physical evidence

71
Q

According to Brand differentiation, Brand is a main _______ but for products but _______ are equally important in services.

A

Main Strategy; People;

72
Q

6 Reasons for increase in services:

A
  1. Economic planning
  2. Urbanizations
  3. Increased per capita income
  4. Women Workforce
  5. Media and Tourism
  6. Greater life expectancy
73
Q

Economic planning was given in

A

1951

74
Q

Marketing is a dynamic process is known by

A

Marketing is a part of total environment

75
Q

To a common man market is a place where products and services are sold -> is

A

Place concept

76
Q

A market is a geographic area ->

A

Area concept

77
Q

Market is a aggregate demand ->

A

Demand Concept

78
Q

Organization through exchange of an item takes place ->

A

Exchange Concept

79
Q

If there is a buying or selling then, it is a

A

Market.

80
Q

Social** Marketing stage is

A

Societal Marketing Stage

81
Q

The questions to be asked in production-oriented stage->

A

Can we produce the product?

Can we produce enough of it?

82
Q

The questions to be asked in Sales Oriented Stage ->

A

Can we sell the product?

83
Q

The questions to be asked in Product oriented stage->

A

How to make a better quality product?

84
Q

The questions to be asked in Marketing Oriented stage ->

A

What do customers want?
How can we develop it?
How can we keep our customers satisfied?

85
Q

Future market is also called

A

Forward Market

86
Q

Products are sold to Retailers in

A

Wholesale Market

87
Q

If there is public interests ->

A

It is societal marketing stage.

Commerce (7 decks)

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