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ls 1 Flashcards

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1
Q

mechanism through which products and services are exchanged, sold and transferred

A

Market

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2
Q

Market is a place where products are sold. what concept of market tells this?

A

Place

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3
Q

According to the area concept of market, market is a ..

A

geographical area where buyers and sellers meet

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4
Q

Example of market according to place concept

A

hatt, bazaar, market

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5
Q

Example of market according to area concept

A

European Common market

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6
Q

Demand concept of market

A

aggregate demand for a product/service

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7
Q

What is meant by exchange concept of market?

A

organisation via which exchange of an item takes place

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8
Q

example of exchange concept of market

A

Stock exchange

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9
Q

Market consist of buyers and sellers and middlemen who assist in buying and selling .. what concept of market tells this?

A

People concept

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10
Q

Wherever a buy or sell takes place is a _____.

A

Market

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11
Q

On the basis of geographical area, markets can be classified as :( with example )

A

Local - village/town
regional - South India
National - India
International - European Union

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12
Q

On the basis of volume of business .. markets can be classified as :

A

wholesale and retail

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13
Q

What is wholesale market?

A

goods - sold in bulk to retailers

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14
Q

What is retail market

A

Goods - sold by retailers to consumers - small quantity

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15
Q

On the basis of subject of exchange…markets can be classified as :

A

Capital
money
commodity

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16
Q

What is capital market ?

A

specialised - long term finance - business enterprises

Ex: Stock exchange, investment trust

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17
Q

What is commodity market ?

A

Organised market - commodities - bought and sold - prescribed rules
Ex: Cotton market

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18
Q

What is money market?

A

Specialised market - short term finance - business enterprises
Ex: All banks

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19
Q

On the basis of position of buyers and sellers.. markets can be classified as :

A

Primary
SEcondary
Terminal

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20
Q

What is primary market?

A

producer — agricultural product - wholesaler

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21
Q

What is secondary market?

A

wholesaler- retailer

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22
Q

What is terminal market?

A

retailers - consumers

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23
Q

on the basis of nature of transactions, markets can be classified as:

A

Spot market

Future market

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24
Q

What is spot market?

A

goods - physically transferred from seller to buyer

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25
What is future market ?
1. future contracts - bought and sold 2. no intention of delivery of goods 3. profit out of price fluctuation
26
On the basis of nature of goods ...markets can be classified as :
Consumer market and producer market
27
what is consumer's market
bought for personal consumption
28
what is producer's market
bought for use in further production
29
In a catalogue market, _________, _______, _________ goods are sold at _____ prices
high mark up, fast moving, branded
30
Catalogue showrooms cut ___ and _____ to attract higher volume of _______
costs, margins, sales
31
who sells through in-house market?
Eureka Forbes
32
two disadvantages of in-house market
time consuming and costly
33
goods are dispatched through ______/________ in mail order market
V.PP/ courier
34
well know brands of products of daily use are sold through
automatic vending machines
35
Mother Dairy sells through
automatic vending machines
36
automatic vending machines are installed in _____
public places
37
Television has become a popular medium for direct marketing due to
growing satellite network and cable channels
38
Path of network market
marketer-distributor-sub distributor-employ persons to sell at homes
39
another name for network market
multi-level market
40
example of network market
amway avon herbalife tupperware
41
products not available at retail outlets can be provided by ___market
network market
42
Marketing is a ____ and _____ process
social ,managerial
43
Marketing is a part of total environment - implies?
it is a dynamic concept
44
marketing creates _____,_____,_____ utilities
time, place, possession
45
how is time utility created by marketing?
by preserving goods for use in future
46
how is place utility created by marketing?
by carrying goods to places where they are needed most
47
how is possession utility created by marketing ?
by transferring goods from producer to customer
48
marketing is a _____ as well as ______
art, science
49
marketing is wider than __.
market
50
even in non business organisations, marketing is used.. this implies that marketing is________
pervasive
51
foremost objective of marketing
satisfy consumer needs and wants
52
objectives of marketing are:
consumer satisfaction organisational integration profitability social service
53
_________ gave way to barter system
self sufficiency
54
production oriented stage - time period
1869-1930
55
sales oriented stage - time period
1930 - 1950
56
product oriented stage
1950-1960
57
marketing oriented stage
1960-1980
58
societal marketing stage
1980- present
59
motto of production oriented stage
" sell what can be produced"
60
what is Say's law
Supply creates its own demand
61
customers buy products which are low priced and easily available .. what stage of marketing is this
production oriented stage
62
Marketing during production oriented stage consisted of mere _____
distribution
63
main drawback of production oriented stage
customers don't always buy products which are cheap and easily available
64
production oriented stage lasted till the _______
great depression
65
what was the motto of sales-oriented stage
" get rid of what u have"
66
customer's importance was realised but only a means of disposing products .. what stage of marketing is this
sales-oriented stage
67
focus was on _____during sales-oriented stage
increasing sales
68
supply exceeds demand in
sales-oriented stage
69
demand exceeds supply in..
production oriented stage
70
sales-oriented marketing is still used in ______, _______
insurance, charity fund raising
71
which stage of marketing is called marketing myopia?
Product oriented stage
72
in Product oriented stage, focus shifted from promotion to _____
product improvement
73
overemphasis on ______ overlooks other aspects which influence customer satisfaction
product quality
74
belief during Product oriented stage
customers will buy if the quality is good
75
consumer is considered as king in which stage?
marketing oriented stage
76
Marketing became the heartbeat of business only when
importance of consumer satisfaction was realised
77
what stage of marketing exists now?
societal marketing
78
marketing is said to be the ____ and ____ of business
eye and ear
79
what has converted yesterday's luxuries into today's necessities?
marketing
80
anything tangible that can be offered to a market for attention, acquisition use or consumption that can satisfy a want or need
Product
81
features of a product
``` tangible associated attributes life cycle exchange value need satisfaction ```
82
products can be broadly classified as :
consumer and industrial
83
consumer products can be classified as:
convenience products shopping products specialty products
84
products which are purchased with minimum efforts frequently
convenience products
85
example of convenience products
newspaper, toothpaste, soap
86
products purchased after a comparative analysis of quality, price etc
shopping product
87
example of shopping products
TV, fridge, furniture
88
products purchased with special efforts like loan or something
specialty products
89
examples of specialty products
jewellery, fancy items
90
industrial products can be further classified as :
raw material supplies accessory equipment installations
91
example of raw materials
cotton, wheat, milk
92
example of supplies
nuts , bolts, typewriter ribbons , lubricating oil
93
example of accessory equipment
typewriter, calculator, drills , etc
94
example of installations
machinery factory sites trucks
95
an intangible act that satisfies some human need and can be offered for sale...
service
96
features of service
intangible perishable - can't be stored inseparable variable
97
types of services ( read example if u want in book i cannot type !!!! )
``` financial insurance transport warehousing communication food and lodging entertainment personal repair ```
98
3 additional P's of service
people physical evidence process
99
five year plan to achieve rapid growth of country was launched in
1951
100
increasing importance of services
``` economic planning increasing urbanisation media rise in per capita income women workforce greater life expectancy ```
101
can services be replaced?
NO
102
customers participate in the manufacture of a product .. true/false
false
103
products can be _____ but services can only be ______
owned, hired
104
(products)cannot be measured .. replace with correct word
services
105
after sale service is not required in the case of ______
service
106
product is ______- based whereas services are ____-based
technology , person

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