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Commercial Applications > Market and Marketing > Flashcards

Market and Marketing Flashcards

1
Q

What plays a significant role in a free enterprise economy?

A

Markets

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2
Q

What does market mean?

A

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

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3
Q

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

A

Prof. Philip Kotler

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4
Q

“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?

A

Prof. Jevons

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5
Q

Place concept?

A

Refers to the physical place where buyers and sellers meet

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6
Q

Examples of Place concept?

A

Hatt, Bazar, Shopping Mall

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7
Q

Area concept?

A

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

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8
Q

Example for Area concept?

A

European Common Market

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9
Q

Demand concept?

A

It refers to the aggregate demand for a product or service

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10
Q

People concept?

A

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

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11
Q

What are the two types of markets?

A

Traditional Markets and Non Traditional Markets

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12
Q

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

A
  1. Local Market
  2. Regional Market
  3. National Market
  4. International Market
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13
Q

What is National Market also called?

A

Federal market or Domestic market

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14
Q

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

A
  1. Wholesale Market

2. Retail Market

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15
Q

Who are the ultimate customers?

A

The End Users

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16
Q

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

A
  1. Commodity Market
  2. Capital Market
  3. Money Market
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17
Q

boop

A

boop!

18
Q

What is Capital Market also called?

A

Financial Market

19
Q

What type of market is capital market and money market?

A

Security Market

20
Q

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

A
  1. Primary Market
  2. Secondary Market
  3. Terminal Market
21
Q

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

A
  1. Spot Market

2. Future Market

22
Q

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

A
  1. Consumer’s Market

2. Producer’s Market

23
Q

Local Market?

A

Market where buying and selling is limited to a local area

e.g., village, town or city

24
Q

Regional Market?

A

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

25
Q

National Market?

A

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

26
Q

International Market?

A

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

27
Q

Wholesale Market?

A

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

28
Q

Retail Market?

A

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

29
Q

Commodity Market?

A

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

30
Q

Capital Market?

A

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

31
Q

Money Market?

A

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

32
Q

Primary Market?

A

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

33
Q

Secondary Market?

A

The market where wholesalers sell their products to retailers

34
Q

Terminal Market?

A

The markets where retailers sell their goods to the consumers

35
Q

Spot Market?

A

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

36
Q

Future Market?

A

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

37
Q

Consumer’s Market?

A

Market where goods are purchased for personal consumption

38
Q

Producer’s Market?

A

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

39
Q

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

A
  1. Catalogue Market
  2. In-House Market
  3. Mail Order Market
  4. Automatic Vending Machine (AVMs)
  5. Telemarket
  6. Network Marketing
40
Q

What is Volume of Business

A

Size of Business

Commercial Applications (9 decks)

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