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Sunday, February 25, 2018

Business Studies Objective Type Questions

1. What is marketing mix and it’s 4 P’s?
Ans: It refers to the combination of four basic elements product, price, promotion and the place, known as the four P’s of marketing.
2. Define Marketing.                   
Ans: Marketing is a social process whereby people exchange goods & services for money or for something of value to them.
3. What is trademark?                   2014
Ans: Trademark simply means mark of a trade carried on by an identified entity. It is usually a sign mark or a symbol, word or words.
4. What is a product?
Ans: It means good or services or anything of value which is offered to the market for exchange.
5. What is advertising?
Ans: It is an impersonal form of communication which is paid for by the markets to promote some goods or services.
6. Define sales promotion?
Ans: Sales promotion refers to short term incentives other than advertising and personal selling at stimulating markets demand for product.

7. What is package?
Ans: The container which carries the product is called package.
8. What is packaging?
Ans: Packaging is defined as a set of tasks or activities which is concerned with the design and production of an appropriate container for the product
9. What is Marketing Management?
Ans: Marketing management is an important functional area of business. It is the process of planning, organizing, directing and controlling the activities related to marketing of goods and services to satisfy customer’s needs & achieve organisational goals.
10. Name the function concerned with informing the customer about the product.
Ans: Product Promotion
11. Name the function involved in physical movement of goods from one place to another.
Ans: Physical Distribution
12. Give two examples of Trade Promotion?
Ans: Gifts, trade discount.
13. What is labeling?
Ans: A label is the identity of product or brand. Labels are attached one to the product package to help the identification and provide some identity to the customer.
14. What do you mean by Brand?
Ans: It can be designed as the process of using a name term, symbol or design to identify a product. It is simply giving a name / a sign / a symbol etc to a product.
15. Give two examples of Brand.
Ans: Pepsi, Nike.
16. Give the main concept behind the various types of marketing concept.
Name of Concept
Main points
Production Concept
Goods/services are cheap and they can be made available at many places.
Product Concept
Quality of goods or services is of good standard.
Selling Concept
“Goods are not bought but they have to be sold”
Marketing Concept
Consumers Satisfaction
Societal Marketing Concept
Consumer Welfare/Societal Welfare
17. Give two examples of trade mark.
Ans: McDonalds, APPLE, IBM
18. Give two examples of various types of products.
Type of Products
Convenience product
Candy, Newspapers, Soap, Fast Food etc.
Shopping Product
Clothing, Furniture, Major Appliances, Used Cars
Speciality product
Photographic equipment with high price, Designer clothes
Unsought Products
Life Insurance, Blood donation to Red Cross
19. Name the middlemen involved in two level channel.
Ans: Wholesaler and retailer
20. What is modern marketing concept?
Ans: Modern marketing concept: Modern or new concept of marketing is a broader concept. It does not mean to provide consumer goods and services what the seller manufactures but it consists the process of discovering the consumer and converting their wants into appropriate goods and services.
21. Introducing a scheme of 50% + 40% less by the koutons is the example of which sales promotion techniques.
Ans: Trade discount
22. Name the products whose utility gets finished in one use.
Ans: Consumer Products
23. Mention on objective of pricing.

Ans: One of the objectives of pricing is to maximize current profits. 

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