Balbharti Maharashtra State Board 12th OCM Important Questions Chapter 8 Marketing Important Questions and Answers.
Maharashtra State Board 12th Commerce OCM Important Questions Chapter 8 Marketing
Select the correct options and rewrite the sentence
Question 1.
In …………….. there are few sellers selling homogeneous products or differentiated products in the market.
(a) Monopoly
(b) Duopoly
(c) Oligopoly
Answer:
(c) Oligopoly
Question 2.
The process of classification of products according to similar characteristics and/or quality is known as ………………
(a) Standardisation
(b) Grading
(c) Branding
Answer:
(b) Grading
Question 3.
The market which uses Information Technology for buying and selling of product or service is known as ………………….
(a) Exchange concept of market
(b) Digital concept of market
(c) Place concept of market
Answer:
(b) Digital concept of market
Question 4.
The market for semi-processed or semifinished goods is called ……………………
(a) Primary Market
(b) Secondary Market
(c) Terminal Market
Answer:
(b) Secondary Market
Question 5.
……………….. helps to avoid breakage, damage, and destruction of the product.
(a) Packaging
(b) Grading
(c) Branding
Answer:
(a) Packaging
Question 6.
……………… gives a special identity to the product.
(a) Grading
(b) Packaging
(c) Branding
Answer:
(c) Branding
Match the pairs
Question 1.
| Group A | Group B |
| (A) Regulated Market | 1. Market of consumer goods |
| (B) Capital Market | 2. Monopoly |
| (C) Tool of Marketing | 3. Provides employment |
| (D) Marketing Mix | 4. Stock Exchange |
| (E) Promotion | 5. Market not controlled by regulation |
| 6. Provides quality products | |
| 7. 4 Ps | |
| 8. Packaging and labelling | |
| 9. Process of informing customers about producer | |
| 10. Borrowing and lending long term capital |
Answer:
| Group A | Group B |
| (A) Regulated Market | 4. Stock Exchange |
| (B) Capital Market | 10. Borrowing and lending long term capital |
| (C) Tool of Marketing | 8. Packaging and labelling |
| (D) Marketing Mix | 7. 4 Ps |
| (E) Promotion | 9. Process of informing customers about producer |
Question 2.
| Group A | Group B |
| (A) Customer Support Service | (1) Creates good design of product |
| (B) Label | (2) To identity Need/ Want of Consumers |
| (C) Product Development | (3) Provides Information |
| (D) Marketing Research | (4) After Sales Services |
| (E) Trademark | (5) Movement of finished goods |
| (6) Storage of goods | |
| (7) Registered Brands | |
| (8) King of Market | |
| (9) Distribution Channel | |
| (10) Decreases Distribution cost |
Answer:
| Group A | Group B |
| (A) Customer Support Service | (4) After Sales Services |
| (B) Label | (3) Provides Information |
| (C) Product Development | (1) Creates good design of product |
| (D) Marketing Research | (2) To identity Need/ Want of Consumers |
| (E) Trademark | (7) Registered Brands |
Give one word/phrase/term for the following statements
Question 1.
The market for the commodities which are sold within geographical limits of a region.
Answer:
Local Market
Question 2.
The market for agricultural and forest products.
Answer:
Primary Market
Question 3.
Where there is single seller or producer who controls the market.
Answer:
Monopoly
Question 4.
Market situation where there is single buyer of a commodity or service.
Answer:
Monopsony
Question 5.
Market where lEirge number of buyers and sellers buy and sell their homogeneous products.
Answer:
Perfect Market.
Question 6.
The process of identifying the needs Emd wants of consumers in the market.
Answer:
Marketing Research
Question 7.
The tool of market that helps to publicise the product to the consumer.
Answer:
Promotion
Question 8.
Putting the right product at the right time, at the right place, at the right price.
Answer:
MEirketing Mix
Question 9.
Slip attached to the product which provides all the information regEirding product and its producer.
Answer:
Labelling
Question 10.
Function of determining standards and ensuring uniformity in the product.
Answer:
Standardisation
Question 11.
The market for the commodities which are sold within country.
Answer:
National Market
Question 12.
The market for commodities which are produced in one country and sold in other countries.
Answer:
International Market
Question 13.
A type of market which has very short time existence.
Answer:
Very Short Period s Market
Question 14.
A market in which the activities of buying and selling is undertaken in large quantities at cheaper rate.
Answer:
Wholesale Market
Question 15.
A market where goods are sold to ultimate consumers.
Answer:
Terminal Market.
State whether following the statements are True or False
Question 1.
Monopsony refers to a market situation where there is a single seller of a commodity or service.
Answer:
False
Question 2.
Product development is one time process.
Answer:
False
Question 3.
Marketing follows customer oriented approach.
Answer:
True
Question 4.
Commodity Exchanges, Stock Exchanges, Foreign ExchEmges are examples of unregulated or raw market.
Answer:
False
Question 5.
Effective utilisation of channel of distribution can help in reducing the cost price of product.
Answer:
True.
Find the odd one
Question 1.
Local market, International market, Terminal j market, National market
Answer:
Terminal market
Question 2.
Very short period market, Perfect market, Short period market, Long period market
Answer:
Perfect market
Question 3.
Monopoly, Monopsony, Oligopoly, Imperfect market
Answer:
Imperfect market.
Complete the sentences
Question 1.
…………….. is a part and parcel of modern day’s life.
Answer:
Marketing
Question 2.
…………….. is the king of the market.
Answer:
Customer
Question 3.
Market which uses Information Technology for buying and selling of goods or services is called ………………..
Answer:
Digital market
Question 4.
Market for goods, materials, consumer and industrial goods is called ………………….
Answer:
Commodity market
Question 5.
………………. market refers to the markets regulated by statutory provisions of the country.
Answer:
Regulated
Question 6.
In …………………. there are two sellers, selling either a homogenous product or differentiated products.
Answer:
Duopoly
Question 7.
…………………. involves collecting raw materials from different sources and bringing them at one place for production.
Answer:
Assembling.
Correct the underlined word and rewrite the sentence
Question 1.
Transportation creates time utility.
Answer:
Perfect market refers to a market situation which is characterised by large number of buyers and sellers who buy and sell their homogeneous products.
Question 2.
Imperfect market refers to a market situation which is characterised by large number of buyers and sellers who buy and sell their homogeneous products.
Answer:
Warehousing creates time utility.
Question 3.
Producer is the king of the market.
Answer:
Consumer is the king of the market.
Question 4.
Retail market refers to the market of bulk purchase and sale of goods.
Answer:
Wholesale market refers to the market of bulk purchase- and sale of goods.
Question 5.
Determining the right price is the result of product development.
Answer:
Determining the right price is the result of marketing research.
Arrange in proper order
Question 1.
Terminal market, Primary market, Secondary market.
Answer:
Primary market, Secondary market, Terminal market.
Distinguish between
Question 1.
Marketing and Selling
Answer:
| Taiga Region | Tundra Region | |
| 1. Meaning | Marketing refers to a process in which needs are identified or created, products offered and delivered to the consumers. | Selling refers to a process of processing orders from customers and delivering the products to them. |
| 2. Concept | As compared to selling, marketing is a wider concept. It comprises selling and other functions. | As compared to marketing, selling is a narrower concept. It is part and parcel of the marketing concept. |
| 3. Essential | Fulfilling the needs and satisfaction of the consumers is the essence of the marketing concept. | Transfer of title and possession of the products from one person to another is the essence of selling. |
| 4. Orientation | Marketing is consumer-oriented. It stresses more on consumers and the maximization of their satisfaction. | Selling is product-oriented. It stresses more on the product and its efficiency. |
| 5. Views | Marketing views (looks at) the customers as they are the center of all activities of marketing. | Selling views (looks at) the customers as the last link in the activities of selling. |
| 6. Activity | Marketing is an indirect activity. | Selling is a direct activity. |