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………….dened as the employees that execute the service chiey concerns the manner and skill in which they do so.
1. Process
2. People
3. Physical Evidence
4. Consumer
People dened as the employees that execute the service chiey concerns the manner and skill in which they do so.
People dened as the employees that execute the service chiey concerns the manner and skill in which they do so.
See lessRajeev Kapoor is a chef in a new downtown restaurant. He has sent out press releases to the major local media and has invited food critics to dine in his restaurant. Rajeev is engaging in
a. Public relations
b. Personal selling
c. Sales promotion
d. Advertising
a. Public relations
a. Public relations
See lessThe ultimate way to test a new consumer product is to put it into full-blown ______.
a. Controlled test marketing
b. Sales-wave research
c. Screening
d. Test markets
The ultimate way to test a new consumer product is to put it into full-blown Test markets.
The ultimate way to test a new consumer product is to put it into full-blown Test markets.
See lessWhat do you mean by ‘channels of distribution’? What functions do they play in the distribution of goods and services? Explain.
Channels of distribution refer to the individuals, institutions, agents who facilitate the process of distribution. As the potential consumers of a product are spread over a larger geographical area, it becomes difficult for the producers or the manufacturers to directly contact the customers for thRead more
Channels of distribution refer to the individuals, institutions, agents who facilitate the process of distribution. As the potential consumers of a product are spread over a larger geographical area, it becomes difficult for the producers or the manufacturers to directly contact the customers for the sale of their products. Here, channels of distribution play an important role. They facilitate the transfer of goods from the place of production to the place where they are consumed. For example, for a manufacturer of sugar in Punjab, it would be difficult to contact the customers in other parts of the country. To ease the process, it would sell its product to whole sellers who in turn would sell it to the retailers. The retailers then finally sell the product to the customers. In addition, channels of distribution also reduce the efforts of the consumers by offering various goods and services at a convenient single location. For example, at a retail store a customer can get a wide variety of goods.
Thus, channels of distribution refer to the set of individuals, agents and institution that facilitate the exchange or transfer of goods and services from the producer to the consumer.
The following are the functions of channels of distribution.
(a) Arrangement: An intermediary receives the supply of goods from various sources. However, the goods received differ in terms of size, quality and features. The intermediary arranges or sorts these goods into homogeneous groups based on their characteristics.
(b) Collection: A middle man accumulates and maintains large stock of the goods so as to ensure a continuous and smooth flow of supply.
(c) Allocation and Packing: A middle man breaks the whole lot of goods into small, marketable units. It repacks the goods into convenient packets.
(d) Building Variety: An intermediary acquires various goods from different sources and assembles them at a single place. Thus, it maintains a variety of goods. For example, a grocer maintains a wide variety of products for sale.
(e) Promotion of Product: They assist in the promotion activities undertaken by the manufacturers. For example, the manufacturers use advertising for the promotion of their product. The intermediaries can aid this process by putting banners and displays.
(f) Mediation: On one hand, the middle men interact with the producers and on the other hand, with the customers. Thus, they form a link between the producers and the customers. They negotiate on matters related to price, quality, etc. and work towards satisfying the needs of both the parties.
(g) Bearing Risk: Intermediaries acquire goods from the producers and keep them in their possession till the final sale. In the process they bear the risk of fluctuations in demand, price, spoilage, etc. For example, suppose a retailer acquires large quantities of sugar. However, after a period of time, the price of sugar rises which reduces its demand. Thereby, the retailer may lose out as the stock remains unsold.
See less“Buy it now” refers to which one of the following options?
a. Advertising
b. Personal selling
c. Publicity
d. Sales promotion
b. Personal selling
b. Personal selling
See lessWhich one of the following is NOT the stage that customers go through in the process of adopting a new product?
a. Awareness
b. Interest
c. Evaluation
d. Culture
Culture is NOT the stage that customers go through in the process of adopting a new product.
Culture is NOT the stage that customers go through in the process of adopting a new product.
See lessWhat are industrial products? How are they different from consumer products? Explain.
Industrial products refer to those products that are used as inputs for the production of other goods. Such goods are not meant for final consumption rather they are used as raw material and inputs by the manufacturers for the production of consumer goods. For example, machines, tools etc. are indusRead more
Industrial products refer to those products that are used as inputs for the production of other goods. Such goods are not meant for final consumption rather they are used as raw material and inputs by the manufacturers for the production of consumer goods. For example, machines, tools etc. are industrial products. As against this, consumer products refer to those products that are used by the ultimate customers for their personal consumption purposes. For example, toothpaste, edible oil, furniture, etc. are consumer goods. The following points highlight the difference between industrial products and consumer products.
Select an appropriate denition of Want
a. Consumer Needs
b. Needs backed by buying power
c. Needs directed to the product
d. Basic human requirements
C . Needs directed to the product
C . Needs directed to the product
See lessAccording to the Marketing and Sales Standards Setting Body (MSSSB), which of the following is not a marketing function?
a) Promote marketing intelligence.
b) Develop sales tactics.
c) Develop the customer proposition.
d) Work with other business functions and third parties.
b) Develop sales tactics.
b) Develop sales tactics.
See lessList five shopping products purchased by you or your family during the last few months.
Shopping products purchased are the following.(i) Clothes(ii) Jewellery(iii) Television(iv) Shoes(v) Home furniture
Shopping products purchased are the following.
(i) Clothes
(ii) Jewellery
(iii) Television
(iv) Shoes
(v) Home furniture
See less