business studies Marketing Management important notes for class 12

Marketing Management..........short and easy notes for board exam.

1. What do you mean by marketing? What are its functions?
> Marketing is that process under which goods and services are created, offered and by doing transaction independently. The needs are satisfied.
Following are its Essential elements;

• It is related to goods and services.
• It satisfy the needs of customers.
• It generate revenue from business.
• It determine the appropriate marketing mix of the firm.

Following are its functions;

• It provide marketing research in solving marketing problems.
• It involved product creation to satisfy the needs of customers.
• It provide information regarding the needs and taste of customer to the supplier.
• It provide design of appropriate container for the product.
• It provides storage and warehousing facilities.
• It provided transport facilities for movement of goods from one place to another.
• It provide advertising regarding the goods.
• It fix the price of product and services.
• Marketing makes plan regarding distribution of goods and services.

2. Write the objectives of marketing.

Following are the main objective of marketing;

• Creation of demand various means.
• Find out the preference and taste of customers.
• Increasing the market share.
• To build up the public image of the firm.
• To capture a reasonable share of the market.
• To co-ordinate between different department.
• Try to deliver quality goods at reasonable price.
• Try to open employment to the society.

3. Difference between selling and marketing.

Selling;

• Selling focus on the needs of the seller.
• Spelling start with the product.
• Seller seeks profit through sales volume.
• It has narrow scope.
• Main objective of selling is to maximize the profit and sell.
• It is product oriented.
• Selling attached more importance to increase the sales volume.

Marketing;

• Marketing focus on the needs of the customer.
• Marketing start with the customer needs.
• Marketing seeks profit through customer satisfaction.
• It has wider scope.
• Main objective of marketing is to earn optimum profit with customer satisfaction.
• It is customer oriented.
• Marketing concentrate on the satisfaction of the customer.

3. What do you mean by marketing mix? What are its components?

> Marketing mix is the state of the marketing tools, which the marketer mixes in order.

Following are its Essential elements;

• Product- it involve planning, developing and producing the right of product for the customer.
• Price- It determine price of goods and services.
• Place- it involves physical handling and moments of goods from place of production to the place of consumption.
• Promotion- it deal with informing the customer about the product by personal selling, advertising, publicity and sales promotion.

4. What do you mean by branding?

> A brand is an identification of product. It can be in the firm of name, symbol, design or the combination of all.

Following are its features;

• Brand name should be easy to pronounce, spell and rememberable.
• It should be suggest something about the product.
• It should be attractive.
• It should be unique.
• It should be appropriate about the product.
• It should have a stable life.
• The brand name should be capable being registered.

6. What do you mean by Trade Mark?

>Registered brand are called The trademark. It has the legal protection.

Following are the quality of good Trade Mark;

It should be short and simple.

It should be easy to pronounce.

It should be attractive.

It should be distinctive.

7. What is labeling? What are its contain?

> labeling gives verbal information about the product and the seller. It is an integral part of the product. The purpose of labeling is to give information about the product the customer.

It contain;

• Name and address of the producer.
• Precautionary measures about the product.
• Nutritional guidelines.
• Date of packing and date of expiry.
• Weight or count.
• Brand name.
• Retail price. 
• Special care of product.

8. What do you mean by packaging?

> Packaging means placing a good in a small package, like box, bottle, tin, jar, bag. Packaging is essential because they protect the product.

Following are its importance;

• Packaging help to protect the goods from damage during transportation and storage.
• Packaging reduce the cost of transportation.
• Packaging helps to identify the product.
• It can be resold in the market.
• Packaging build Prestige of the product.
• Convenience in handling.

9. What do you mean by promotion? What are its Essential elements?

> Promotion is the process of communication. It include all types of distribution network. The purpose of promotion is to inform prospective customer.

There are various elements available for promotion;

• Advertising
• Personal selling
• Sales promotion
• Publicity

10. What do you mean by advertising? what are its advantages?

> Advertising is a common tool for communication. Its main objective to provide information to the customer regarding the product.

Following are its advantages; 

• It inform people about the utility of product.
• It help to bring down the cost of their distribution.
• It is also reduce the cost of production.
• Eliminate the middleman.
• It helps to improve the quality of the product.
• Educate the public in right method of using the product.
• Educate the potential wire.
• To create employment opportunity.

11. What do you mean by publicity? What are its characteristics?

> It is unpaid form of communication. Publicity gives information to the public regarding the goods and services. It is similar to advertising.

Following are its characteristics;

• It is unpaid form of communication.
• There is no identity five sponsor for the communication.
• It is not control by company.

POINTS;

1. Marketing consists of four 'P'.
2. Advertisement is done by identified sponsor.
3. Money spent on marketing is an investment.
4. Marketing is compulsory.
5. Birthplace of marketing age America.
6. Advertisement is an investment.
7. Packaging helps in selling.
8. Characteristics of good brand are - short name, rememberable and attractive.
9. labeling age necessary.
10. Costliest means of advertising is personal selling.

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