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Tamilnadu Samacheer Kalvi 12th Commerce Solutions Chapter 13 Concept of Marketing and Marketer
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Samacheer Kalvi 12th Commerce Concept of Marketing and Marketer Textbook Exercise Questions and Answers
I. Choose the Correct Answer
Question 1.
One who promotes (or) Exchange of goods or services for money is called as _____
(a) Seller
(b) Marketer
(c) Customer
(d) Manager
Answer:
(b) Marketer
Question 2.
The marketer initially wants to know in the marketing is _____
(a) Qualification of the customer
(b) Quality of the product
(c) Background of the customers
(d) Needs of the customers
Answer:
(d) Needs of the customers
Question 3.
The Spot market is classified on the basis of _____
(a) Commodity
(b) Transaction
(c) Regulation
(d) Time
Answer:
(b) Transaction
Question 4.
Which one of the market deals in the purchase and sale of shares and debentures?
(a) Stock Exchange Market
(b) Manufactured Goods Market
(c) Local Market
(d) Family Market
Answer:
(a) Stock Exchange Market
Question 5.
Stock Exchange Market is also called _____
(a) Spot Market
(b) Local Market
(c) Security Market
(d) National Market
Answer:
(d) National Market
II. Very Short Answer Questions
Question 1.
What is Market?
Answer:
The word market is derived from the Latin word ‘Marcatus’ which means trade, commerce,* merchandise, a place where business is transacted.
Question 2.
Define Marketer.
Answer:
“A person whose duties include the identification of the goods and services desired by a set of consumers, as well as the marketing of those goods and services on behalf of a company”.
Question 3.
What is meant by Regulated Market?
Answer:
Very Short Period Market: Markets which deal in perishable goods like, fruits, milk, vegetables etc., are called as very short period market.
Question 4.
Mention any four differences between Wholesale Market and Retail Market.
Answer:
| S.No. | Wholesale Market | Retail Market |
| 1. | Goods are supplied in bulk quantity. | Goods are sold to customers in small quantities. |
| 2. | Goods are supplied to dealers and retailers. | Goods are sold to the public. |
| 3. | Goods are purchased directly from manufacturer. | Goods are purchased from the wholesaler. |
| 4. | The price of the goods are lesser. | The price of the goods are costlier. |
Question 5.
What is meant by Commodity Market?
Answer:
A commodity market is a place where produced goods or consumption goods are bought and sold.
III. Short Answer Questions
Question 1.
What can be marketed in the Market?
Answer:
The dynamic items that can be marketed are listed below:
- Goods
- Services
- Experiences
- Events
- Persons
- Places
- Properties
- Organisations
- Information
- Ideas
Question 2.
Mention any three Role of Marketer.
Answer:
- Instigator: As an instigator, marketer keenly watches the developments taking place in the market and identifies marketing opportunities emerging in the ever changing market.
- Integrator: Marketer plays a role of integrator in the sense that he collects feedback or vital inputs from channel members and consumers.
- Implementer: Marketer plays a role of implementer when he/she actually converts marketing opportunities into marketable product.
Question 3.
Marketer is an innovator? Do you agree?
Answer:
Marketer seeks to distinguish his products/services by adding additional features or functionalities to the existing product, modifying the pricing structure, introducing new delivery pattern, creating new business models, introducing change in production process and so on.
Question 4.
Why Customer support is needed to Market?
Answer:
Customer or the consumer is the king and is considered to be a guest to your shop. Without the customer there is no business. To develop the market the number of customer is to be increased. So customer support is necessary to increase the sales and gain more profit.
Question 5.
Explain the types of market on the basis of time.
Answer:
- Very Short Period Market: Markets which deal in perishable goods like, fruits, milk, vegetables, etc., are called as very short period market. There is no change in the supply of goods.
- Short Period Market: In certain goods, supply is adjusted to meet the demand. The demand is greater than supply. Such markets are known as Short Period Market.
- Long Period Market: This type of market deals in durable goods, where the goods and services are dealt for longer period usages
Question 6.
List down the functions of Marketer.
Answer:
- Gathering and Analysing market information
- Market planning
- Product Designing and development
- Standardisation and Grading
- Packaging and Labelling
- Branding
- Customer Support Services
- Pricing of Products
- Promotion and Selling
- Physical Distribution
- Transportation
- Storage and Warehousing
IV. Long Answer Questions
Question 1.
How the market can be classified?
Answer:
On the basis of different approaches markets can be classified as follows:
I. On the basis of Geographical Area:
(a) Family Market
(b) Local Market
(c) National Market
(d) International Market or World Market
II. On the Basis of Commodities / Goods:
(a) Commodity Market
- Produce Exchange Market
- Manufactured Goods Market
- Bullion Market
(b) Capital Market:
- Money Market
- Foreign Exchange Market
- The Stock Market
III. On the Basis of Economics:
(a) Perfect Market
(b) Imperfect Market
IV. On the basis of transaction:
(a) Spot Market
(b) Future market
V. On the Basis of Regulation:
(a) Regulated Market
(b) Unregulated Market
VI. On the Basis of Time:
(a) Very Short Period Market
(b) Short Period Market
(c) Long Period Market
VII. On the Basis of Volume of Business:
(a) Wholesale Market
(b) Retail Market
VIII. On the Basis of Importance:
(a) Primary Market
(b) Secondary Market
(c) Terminal Market
Question 2.
How the market can be classified on the basis of Economics?
Answer:
The Market can be classified on the basis of Economics as follows:
(a) Perfect Market: A market is said to be a perfect market, if it satisfies the following conditions:
- Large number of buyers and sellers are there.
- Prices should be uniform throughout the market.
- Buyers and sellers have a perfect knowledge of market.
- Goods can be moved from one place to another without restrictions.
(b) Imperfect Market: A market is said to be imperfect when
- Products are similar but not identical.
- Prices are not uniform.
- There is lack of communication.
Question 3.
What is your contribution to promote the market in the modern society?
Answer:
Market is a place where buyers and sellers gather for purchase and sale. Market may be of Local market, national market and international or Global market.To develop and promote the market the following are needed:
- Eligible and satisfied and customer is needed.
- Quality and durable goods are to be marketed.
- Recent trends like E-marketing, online marketing are to be encouraged.
- After sales service are to be provided to durable goods.
- Customers are to be financed for buying costly articles.
- New Innovations and marketing research are to be introduced to develop the market.
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