Lesson 1 Flashcards
Type of economy where market play a important role/.
Free enterprise.
_____,____ and _____ affect the demand.
Resources, Activities and Attitudes.
Geographical Area ->
- Local
- Regional
- National
- International
Volume of Business ->
Wholesale and Retail
Subject of exchange ->
Commodity, Capital and Money
Position of Buyers and Sellers ->
Primary, Secondary and Terminal.
Nature of transactions
Spot and Future
Nature of goods
Consumer’s and Producer’s
Which are kept in showroom in catalogue market?
Catalogue (details of goods and prices) and Samples.
Catalogue show rooms cut ______ and _______ to attract a higher volume of sales.
Costs and Margins.
Which offers great convenience to customers?
In-House market
Which is a time consuming and Costly method?
In-House Market
Party method.
In-house Market
Television is a popular medium for _____ Marketing.
Direct.
_______ shopping is very convenient and cost-effective, Saves time.
Television.
Stages in Network Market ->
Distributors -> Sub-Distributors -> Persons to sell the product at the home of customers.
Another name for Network Market
Amway Pioneered or Multi-Level Marketing.
_______ provides wide reach and reduce costs.
Network Market.
In which market Products not available in retail outlets maybe can be made available?
Network Market.
Customers saves ___ and ______ involved in shopping in network marketing.
Cost and Time.
Marketing is both a _____ and ______ process.
Managerial and Social
Marketing is ______ and _______-Oriented
Customer and Goal
_______ is the focus of marketing.
Customers.
Inputs are drawn from ______-system and coverted into ________/
Supra (society) and want satisfaction.
Marketing is a part of total environment implies
It is a dynamic process.
Marketing creates ____ , ______ and _____ utilities.
Place, Time and Possession
_______ process is the essential element in marketing.
Exchange
Marketing is art as well as science implies
It is inter-disciplinary.
Ideas and Programmes of social use ->
Social Marketing.
First and Foremost objective of marketing ->
Consumer Satisfaction.
Marketing starts with
Identification then Understanfing.
Organizational Integration
Customer-Oriented philosophy.
Profitability ->
Earn Profits by creating and satisfying customers.
3 broad stages of marketing:
- Subsistence level
- Self-Sufficiency
- Modern
Which gave way to barter system?
Self-Sufficiency.
The motto of production stage
“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)”
____ was the focus of attention in production stage -> Communication was not needed.
Product
_______ oriented stage was characterized by _____ production and ______ distribution.
Production; Mass;
_____ and _____ departments shaped the company’s goal in production stage.
Production and Engineering
Marketing in 1914 consisted of ______
Mere distribution and Sales department.
Supply and Demand in production oriented ->
Demand Excceds supply.
Growth of corporate ->
Sales Oriented Stage.
Motto of Sales stage->
“Get Rid of what you have”
“Increase sales rather than customer satisfaction”
Marketing in sales stage ->
Salesmanship.
Customer importance in sales stage->
Only to dispose goods.
Sales stage is used in
Insurance, Charity fund raising and unsought practices.
Shift from promotion to product improvement in
Product-Oriented
Marketing Myopia is
Product-oriented
“Push product into the market” Strategy is
Production-oriented
Profits through disposal
Production-Oriented
Aggressive selling ->
Sales oriented
To create demand
Sales-Oriented
Marketing became ____ and consumer became ___ in
Heartbeat(later called nerve-centre) and King
Intersts of target market and deliver them efficiently
Societal Marketing Stage
PrMarketing is dynamic process is known byoper marketing mix ->
Marketing oriented stage.
Product and Distribution was focussed in
Production-Oriented
Marketing is ___ and ____ of business.
Eye and Ear
If and only if there is marketing, it is a _________. This was said by _____________.
Business. Drucker.
Compare the marketing in developed country and India
Marketing is more developed in developed countries.
Product has shape and size comes under
Tangibility of Product.
Package, Brand Name, Warranty comes under
Associated attributes of the product.
Every product is meant to satisfy some human ______
- Want
- Need
- Demand
- Need
Which of the type of industrial products contain farm and natural products:
Raw Materials. Wheat, Cotton, Milk and Coal
Services can’t be stored in future comes under
Perishability
Produced and Consumed at the same time comes under
Inseperability
Services can be rarely be standardized or made uniforms.
Variability (opp. to homogeneity)
All the types of services
Mission Impossible
- Financial
- Insurance
- Transport
- Warehouse
- Communication
- Food and lodging
- Entertainment
- Personal Services
- Repair Service
Product is ____ based and Services are _____ based
Technology and Person.
According to market relationship differentiation, ____ and ____ are the focus of transaction for product, but ______ for service
Product and Brand. Very Important Link.
3 additional mix for service ->
People, process and physical evidence
According to Brand differentiation, Brand is a main _______ but for products but _______ are equally important in services.
Main Strategy; People;
6 Reasons for increase in services:
- Economic planning
- Urbanizations
- Increased per capita income
- Women Workforce
- Media and Tourism
- Greater life expectancy
Economic planning was given in
1951
Marketing is a dynamic process is known by
Marketing is a part of total environment
To a common man market is a place where products and services are sold -> is
Place concept
A market is a geographic area ->
Area concept
Market is a aggregate demand ->
Demand Concept
Organization through exchange of an item takes place ->
Exchange Concept
If there is a buying or selling then, it is a
Market.
Social** Marketing stage is
Societal Marketing Stage
The questions to be asked in production-oriented stage->
Can we produce the product?
Can we produce enough of it?
The questions to be asked in Sales Oriented Stage ->
Can we sell the product?
The questions to be asked in Product oriented stage->
How to make a better quality product?
The questions to be asked in Marketing Oriented stage ->
What do customers want?
How can we develop it?
How can we keep our customers satisfied?
Future market is also called
Forward Market
Products are sold to Retailers in
Wholesale Market
If there is public interests ->
It is societal marketing stage.
