Tag: role of marketing

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Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Good marketing is no accident, but a result of careful planning and _______.

  1. execution

  2. selling

  3. strategies

  4. tactics
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Good marketing is necessary for any business to increase its sale and satisfy its customers and it can only be possible if proper planning and execution is done to utilize its efforts.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

In the Indian forex markets the following can take a position in a currency on their own account __________.

  1. Full fledged money changers

  2. Authorised dealers

  3. Forex brokers

  4. Restricted money changer

  5. Both (A) and (B) above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Authorised dealers are generally commercial banks and form a large part of the inter-bank market in India. Authorised dealers in foreign exchange are allowed to maintain foreign currency accounts with their correspondent banks abroad as required for their day-to-day foreign exchange business.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Selling+customer satisfaction = _________.

  1. Network Marketing

  2. E-Commerce

  3. M Commerce

  4. Marketing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Selling the product to the consumers and ensuring the customer satisfaction together helps in making the marketing of an enterprise succeed as only selling won't result in increasing the sales in future, if customers are not satisfied.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Marketing is a _______ concept than selling

  1. narrow

  2. older

  3. broader

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Marketing is a broader concept than selling .Selling is the part of marketing  Marketing includes various stages of promoting goods , creating its demand and advertising .

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Who coined the concept of "Industry Analysis"?

  1. Michel Porter

  2. HN Hansen

  3. Koontz O Donnel

  4. Joseph Schumpeter
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Michael Porter developed the comprehensive framework for Industry Analysis, known as Porter's Five Forces Analysis, which evaluates competitive intensity through: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products, and competitive rivalry. His framework revolutionized strategic analysis by providing a systematic approach to assessing industry attractiveness and competitive dynamics.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Selling + customer satisfaction = __________.

  1. Networking

  2. Financing

  3. Survey

  4. Marketing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing is based on the concept that customer is the most important person to the organisation.

Dr. Philip Kotler defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.  Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
Thus it can be said that Selling + customer satisfaction = Marketing.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

"Marketing may be defined as the performance of business activities that directs the flow of goods and services through producers to consumers."
This definition is given by _________.

  1. H.L. Hansen

  2. Indian Marketing Association

  3. American Marketing Association

  4. Howard and Upton
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

This is a classic definition of marketing provided by the American Marketing Association (AMA). It emphasizes the flow of goods and services from producers to consumers.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

________ means the mechanism through which products and services are sold, exchanged and transferred.

  1. business

  2. market

  3. financial management

  4. Transformation process
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A market is defined as a place or mechanism where buyers and sellers interact to exchange goods, services, or information. Business is a broader term, while the other options refer to specific functions.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Selling and marketing have synonymous meaning.

  1. True, both can be used interchangeably

  2. False, selling is a narrow concept

  3. False, marketing is narrow concept

  4. The concepts cannot be compared
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Selling is a narrow concept focused on converting products into cash, whereas marketing is a broad, long-term process focused on customer needs and satisfaction.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

________ short term perspective while _______ is a long term one.

  1. Marketing, selling

  2. Selling, marketing

  3. Marketing, financial planning

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Selling is typically transaction-oriented and short-term, focusing on the immediate exchange. Marketing is relationship-oriented and long-term, focusing on sustained customer value.