Market and Marketing

Question 1

What plays a significant role in a free enterprise economy?

Answer 1

Markets

Question 2

What does market mean?

Answer 2

In common terms market refers to a place where buyers and sellers meet, but in real sense, it is the sum total of the environment in which resources, activities and attitudes of the buyers and sellers affect the demand for products and services

Question 3

“Market is the set of all actual and potential buyers of a product.” Who gave this definition?

Answer 3

Prof. Philip Kotler

Question 4

“A market means a body of persons who are in intimate business relations and carry out extensive transactions in any commodity.” Who gave this definition?

Answer 4

Prof. Jevons

Question 5

Place concept?

Answer 5

Refers to the physical place where buyers and sellers meet

Question 6

Examples of Place concept?

Answer 6

Hatt, Bazar, Shopping Mall

Question 7

Area concept?

Answer 7

Market means a geographical area where products and services are bought and sold or exchanged

Question 8

Example for Area concept?

Answer 8

European Common Market

Question 9

Demand concept?

Answer 9

It refers to the aggregate demand for a product or service

Question 10

People concept?

Answer 10

According to this, market consists of buyers and seller and all those middlemen who are involved is buying and selling of a particular product or service

Question 11

What are the two types of markets?

Answer 11

Traditional Markets and Non Traditional Markets

Question 12

What are the types of markets on the basis of Geographical Area?

Answer 12

1. Local Market
2. Regional Market
3. National Market
4. International Market

Question 13

What is National Market also called?

Answer 13

Federal market or Domestic market

Question 14

What are the types of Markets on the basis of Volume of business?

Answer 14

1. Wholesale Market

2. Retail Market

Question 15

Who are the ultimate customers?

Answer 15

The End Users

Question 16

What are the types of markets on the basis of Subject of Exchange

Answer 16

1. Commodity Market
2. Capital Market
3. Money Market

Question 17

boop

Answer 17

boop!

Question 18

What is Capital Market also called?

Answer 18

Financial Market

Question 19

What type of market is capital market and money market?

Answer 19

Security Market

Question 20

What are the types of market on the basis of Position of Buyers and Sellers?

Answer 20

1. Primary Market
2. Secondary Market
3. Terminal Market

Question 21

What are the types of markets on the basis of Nature of Transaction?

Answer 21

1. Spot Market

2. Future Market

Question 22

What are the types of markets on the basis of Nature of Goods?

Answer 22

1. Consumer’s Market

2. Producer’s Market

Question 23

Local Market?

Answer 23

Market where buying and selling is limited to a local area

e.g., village, town or city

Question 24

Regional Market?

Answer 24

Market where buying and selling is limited to a particular state or region
e.g., Southern India

Question 25

National Market?

Answer 25

Market where buying and selling is limited within the boundaries of a particular country e.g., India

Question 26

International Market?

Answer 26

Market where buying and selling involves buyers and sellers of several different countries e.g., European Union

Question 27

Wholesale Market?

Answer 27

This is a market where goods are sold in bulk to retailers

Question 28

Retail Market?

Answer 28

This is a market where goods are sold by retailers in small quantities directly to the ultimate customers

Question 29

Commodity Market?

Answer 29

This is an organised market where commodities (e.g., cotton) are bought and sold according to prescribed rules and regulations

Question 30

Capital Market?

Answer 30

A specialised market for providing long - term finance to business enterprises. It comprises special financial institution, stock exchanges, investment trusts and insurance companies

Question 31

Money Market?

Answer 31

Specialised market for providing short term finance to business enterprises. Consists of various types of banks

Question 32

Primary Market?

Answer 32

The market where primary producer sell their agricultural produce to the wholesalers or their agents

Question 33

Secondary Market?

Answer 33

The market where wholesalers sell their products to retailers

Question 34

Terminal Market?

Answer 34

The markets where retailers sell their goods to the consumers

Question 35

Spot Market?

Answer 35

This is a market where goods are physically transferred from the seller to buyer

Question 36

Future Market?

Answer 36

This is a market where buyers and sellers enter into future contracts without the intention of actual delivery of goods. Their main purpose is to make profit out of fluctuations in the prices

Question 37

Consumer's Market?

Answer 37

Market where goods are purchased for personal consumption

Question 38

Producer's Market?

Answer 38

This is a market where goods are purchased for further use in production

Question 39

What are the types of non traditional markets? (6)

Answer 39

1. Catalogue Market 2. In-House Market 3. Mail Order Market 4. Automatic Vending Machine (AVMs) 5. Telemarket 6. Network Marketing

Question 40

What is Volume of Business

Answer 40

Size of Business