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B
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100
Purchase of new refrigerator, television, washing machine, motorbike, cars in exchange for old products is an example of?
Exchange offer
100
The below is an example of which type of Sales promotion?
Deferred Payment Plan
100
This is an example of which type of Sales Promotion?
Contests
100
What is Marketing Mix
“Marketing Mix is the set of controllable variables that the firm can use to influence the buyer’s response”
200
State any two features of advertising?
Paid form of Communication:
Companies have to pay for advertising their products and services.
Non-personal Presentation of Message:
There is no face to face communication in advertising as it happens in case of personal selling.
These are presentations through mass media and as such are impersonal in nature.
The idea is to promote Goods or Services:
Advertising is done with a specific objective of promoting a product or service and increasing their sales.
Issued by an Identified Sponsor:
The advertisers who sponsor the advertisement are duly identifiable in the advertised messages.
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200
Give an example of positive and negative publicity
Positive Publicity: Maggi Ketch-up and Maggi Masala gained popularity due to favourable publicity about Maggi Noodles.
Negative Publicity: Substantial decline in the sales of Chinese plastic toys after news reports of harmful materials in the plastic toys.
200
Add +200 points to Team 2
Yayyyy!!
200
Product Classification is can be done into 3 types and elaborate
300
Qualities of a Good Salesperson
Good Personality :
Personality of a salesperson should be amiable and friendly.
Mental Qualities :
A salesperson should be alert, imaginative,have foresight, empathy etc.
He should be able to read the customer’s mind.
Good Behaviour :
A salesperson should be a well behaved and co-operative.
He should have patience and humility.
Knowledge :
A salesperson should know every detail relating to the product and the company
He/she should be able to explain features of the product
He/she should have knowledge about competitors’ product
Ability to communicate and persuade :
The salesperson must speak confidently, clearly and audibly.
The salesperson must be an effective speaker as well as a good listener.
Don’t give up attitude:
He/she must not give up easily.
He/she must persuade the customer to finalise the purchase with a sense of satisfaction.
300
Advantages of advertising to society
It motivates the producers to make improvements in their existing products through Research and Development (R&D) activity.
It helps in providing information, convenience, comfort, and a better lifestyle to people.
It generates employment for people who are connected with the advertising world.
Advertising generates huge revenue for both print and electronic media.
300
If a particular soap costs the marketeer Rs. 8 and he desires a profit of 25%, the price of the soap is fixed at Rs 8 + (8x25/100) =Rs. 10.
Q. What kind of Pricing Method is this?
Explain the method in detail.
Cost based pricing
Price of the product is fixed by adding the amount of desired profit margin to the cost of the product.
300
Discuss 3 stages of channels of distribution.
400
Difference between Advertising and Publicity
Refer to notes
400
Name any 4 objectives of advertising
Introduction of new product :
Business firms have to inform the prospective customers about new products, its features, price, usage, availability etc. This helps customers in making purchase decisions.
Increase in sale :
Advertising helps in increasing the sale of firm’s products.
It helps in turning non-users of products to users of products
It helps in attracting the consumers of competitor’s products.
Maintaining existing buyers :
Advertising is used to remind the consumers about how good and reliable their old products or services are.
This helps prevent decline in the sale of their products in the market.
Create and enhance goodwill of the firm :
Advertising helps in building the reputation of the business and creating a good image of the firm in the minds of consumers, workers, investors, government etc.
Dealer support :
Advertising helps to provide the necessary support to firm’s dealers and distributors.
Create and enhance brand image :
Advertising is used to create an image which helps in building customers’ loyalty.
400
Write a short note of labeling.
Label is a part on the cover of the product which provides its name, contents, ownership, expiry date, manufacturing date etc.
A label helps in identifying the product.
It provides full of information about the product.
It helps in grading the product.
It attracts customers because of its colourful packing.
400
Explain the Marketing Mix with examples
Product
Product refers to the goods and services offered by the organisation for sale.
Example: A pair of shoes, a plate of dahi-vada and lipstick.
All these are purchased because they satisfy our needs.
We are paying not for the tangible product but for the benefit it will provide.
Products can also take the form of a service like air travel, telecommunication, hotel stay, etc.
Price
Price is the amount charged for a product or service.
It is the second most important element in the marketing mix.
Factors which are important while fixing the price are:
demand for a product
cost involved
consumer’s ability to pay
prices charged by competitors for similar products
government restrictions
Pricing is a very crucial decision area as it has its effect on demand for the product and also on the profitability of the firm.
Place
The products must be made available to the consumers at a place where they can conveniently make purchases.
Example, Woollens are manufactured on a large scale in Ludhiana but can be purchased from nearby markets in your town. So, it is necessary that the product is available at shops in your town.
This involves a chain of individuals and institutions like distributors, wholesalers and retailers who constitute the firm's distribution network (also called a channel of distribution).
The organisation has to decide whether to sell directly to the retailer or through the distributors/wholesaler etc.
It can even plan to sell it directly to consumers.
Promotion
It refers to a process of informing, persuading and influencing a consumer to make a choice of the product to be bought.
Promotion is done through means of personal selling, advertising, publicity and sales promotion.
It is done to provide information to prospective consumers about the availability, characteristics and uses of a product.
It arouses potential consumer’s interest in the product, compares it with competitors’ products and makes his choice.
Growth of print and electronic media has helped in easily promoting products.
500
Limitations of Advertising (5 points)
Advertising multiplies wants :
People tend to desire and buy products as they see in advertisements even if they do not actually need or afford them.
Advertising adds to the cost and price of product :
Money spent on advertising eventually results in increased cost of the product, which is passed on to the consumers through increased prices.
Creation of monopoly :
Business firms which can spend heavily on advertising are usually the ones who grab a bigger share of the market.
Advertising may affect the value-system of society :
Advertising may introduce new values which may affect our social, moral and ethical values adversely.
Motivation for wrong or dangerous deeds :
Advertisements may motivate people to do wrong deeds.
Example: Advertisements that project people cigarettes or pan-masala, may tempt people to try and then get addicted to such products which are not good for health.
6. Advertising may not increase overall demand :
Advertising does not always increase demand but simply shift demand from one brand to another.
500
You got lucky!
Free points +500
500
What are the 3 types of packaging
It is the act of designing and producing appropriate containers or cover for the product.
Three levels of packaging are following ones
A. Primary Package
It refers to immediate packing of a product. e.g., tube of ointment.
B. Secondary Package
It refers to additional packaging which gives protection to the product.
Example; Cardboard box used to keep ointment tubes.
C. Transportation Packaging or Final Packaging
It refers to further packaging components necessary for storage or transportation.
E.g., boxes of ointments are transported in corrugated boxes each containing 50/100 items.
500
Explain the process of Salesmanship
Prospecting : Identifying the prospective buyers in the area of operation.
Pre-approach: Obtain necessary information about the customer
Approach: Approach the customer to gain his attention, greet him.
Presentation and demonstration: Make the product presentation i.e. inform the customer about the product, its qualities, price etc. and demonstrate its use, if required.
Answering the queries/objections and their clarification: Handle the customers queries and objections and persuade them to make a final decision.
Action or ending the process of sale: End the process of sale with receiving the order and thanking the customer.
Follow up or after sales service: Provide after sales service after delivery of goods