Important Questions : Marketing Management | EduRev Notes

Class 12 : Important Questions : Marketing Management | EduRev Notes

 Page 1


 
 
CHAPTER – 11 
MARKETING MANAGEMENT             
14 Marks 
 
LINKING CLASS XI SYLLABUS: 
Business ?Trade?Aids to trade?Marketing/Advertising. 
 
CONCEPT MAPPING: 
1. Market, Consumer, Seller / Marketer – meaning 
2. Marketing – Meaning, Features  
3. Marketing Management Philosophies 
4. Marketing Functions 
5. Marketing Mix – product, price, place and promotion 
6. Advertising – meaning, features, merits and limitations.. 
7. Objections to advertising 
8. Sales promotion– meaning and variety of Tools / methods used. 
9. Personal selling –Concept  and qualities of a good salesman 
10.  Public Relations – concept and role. 
 
KEY CONCEPTS IN NUTSHELL 
MARKET :It refers to a place where the buyers and sellers meet each other for sale and 
purchase of the commodity. 
CUSTOMER :Customers refers to the people or organization that seek satisfaction of their 
needs and wants. 
SELLER OR MARKETEER :The sellers or marketers offer a variety of entities to customers. 
MARKETING :Marketing makes goods and services more useful to the society by creating 
place, time and possession utilities. 
FEATURES OF MARKETING : 
a. Needs and wants 
b. Creating a market offering 
c. Customer value 
d. Exchange mechanism 
Page 2


 
 
CHAPTER – 11 
MARKETING MANAGEMENT             
14 Marks 
 
LINKING CLASS XI SYLLABUS: 
Business ?Trade?Aids to trade?Marketing/Advertising. 
 
CONCEPT MAPPING: 
1. Market, Consumer, Seller / Marketer – meaning 
2. Marketing – Meaning, Features  
3. Marketing Management Philosophies 
4. Marketing Functions 
5. Marketing Mix – product, price, place and promotion 
6. Advertising – meaning, features, merits and limitations.. 
7. Objections to advertising 
8. Sales promotion– meaning and variety of Tools / methods used. 
9. Personal selling –Concept  and qualities of a good salesman 
10.  Public Relations – concept and role. 
 
KEY CONCEPTS IN NUTSHELL 
MARKET :It refers to a place where the buyers and sellers meet each other for sale and 
purchase of the commodity. 
CUSTOMER :Customers refers to the people or organization that seek satisfaction of their 
needs and wants. 
SELLER OR MARKETEER :The sellers or marketers offer a variety of entities to customers. 
MARKETING :Marketing makes goods and services more useful to the society by creating 
place, time and possession utilities. 
FEATURES OF MARKETING : 
a. Needs and wants 
b. Creating a market offering 
c. Customer value 
d. Exchange mechanism 
 
DIFFERENCE BETWEEN SELLING CONCEPT AND MARKETING CONCEPT : 
Points Selling Concept Marketing Concept 
Starting point Factors Market 
Main Focus Attracting consumers Consumer satisfaction 
Means 
Advertising, personal selling and 
sales promotion 
Various marketing activities 
Ends Profit through maximum sales 
Profit through consumer 
satisfaction 
MARKETING MANAGEMENT: It deals with planning, organizing and controlling the activities 
related to the marketing of goods and services to satisfy the consumer’s wants. 
NATURE : 
1. It is goal diverted 
2. It determines the appropriate marketing mix if the firm. 
3. It is a functional area of management 
4. It is a specialized job 
5. It is the marketing concept in action 
OBJECTIVES : 
a. Creation of demand 
b. Market share 
c. Goodwill 
d. Profitable sales volume through customer satisfaction 
e. To determine marketing mix that will satisfy the needs of the customers 
f. To generate adequate profits for the growth of the business
Page 3


 
 
CHAPTER – 11 
MARKETING MANAGEMENT             
14 Marks 
 
LINKING CLASS XI SYLLABUS: 
Business ?Trade?Aids to trade?Marketing/Advertising. 
 
CONCEPT MAPPING: 
1. Market, Consumer, Seller / Marketer – meaning 
2. Marketing – Meaning, Features  
3. Marketing Management Philosophies 
4. Marketing Functions 
5. Marketing Mix – product, price, place and promotion 
6. Advertising – meaning, features, merits and limitations.. 
7. Objections to advertising 
8. Sales promotion– meaning and variety of Tools / methods used. 
9. Personal selling –Concept  and qualities of a good salesman 
10.  Public Relations – concept and role. 
 
KEY CONCEPTS IN NUTSHELL 
MARKET :It refers to a place where the buyers and sellers meet each other for sale and 
purchase of the commodity. 
CUSTOMER :Customers refers to the people or organization that seek satisfaction of their 
needs and wants. 
SELLER OR MARKETEER :The sellers or marketers offer a variety of entities to customers. 
MARKETING :Marketing makes goods and services more useful to the society by creating 
place, time and possession utilities. 
FEATURES OF MARKETING : 
a. Needs and wants 
b. Creating a market offering 
c. Customer value 
d. Exchange mechanism 
 
DIFFERENCE BETWEEN SELLING CONCEPT AND MARKETING CONCEPT : 
Points Selling Concept Marketing Concept 
Starting point Factors Market 
Main Focus Attracting consumers Consumer satisfaction 
Means 
Advertising, personal selling and 
sales promotion 
Various marketing activities 
Ends Profit through maximum sales 
Profit through consumer 
satisfaction 
MARKETING MANAGEMENT: It deals with planning, organizing and controlling the activities 
related to the marketing of goods and services to satisfy the consumer’s wants. 
NATURE : 
1. It is goal diverted 
2. It determines the appropriate marketing mix if the firm. 
3. It is a functional area of management 
4. It is a specialized job 
5. It is the marketing concept in action 
OBJECTIVES : 
a. Creation of demand 
b. Market share 
c. Goodwill 
d. Profitable sales volume through customer satisfaction 
e. To determine marketing mix that will satisfy the needs of the customers 
f. To generate adequate profits for the growth of the business
 
MARKETING FUNCTIONS: 
1. Marketing research 
2. Marketing planning 
3. Product planning development 
4. Buying and assembling 
5. Packaging and labeling 
6. Branding 
7. Customer support services 
8. Storage and warehousing 
9. Transportation 
10. Promotion and selling 
11. Standardisation and grading 
12. Pricing 
13. Fixing 
14. Risk taking 
MARKETING MIX, ELEMENTS : 
1. Product Mix 
2. Price Mix 
3. Place Mix 
4. Promotion Mix 
MEANING OF MARKETING MIX: 
 It refers to the combination of four basic elements, product, price, promotion and 
the place known as the four P’s of marketing. 
PRODUCT: Total number of products and items that a particular seller offers to the 
market is called market mix. 
a. Branding 
b. Trade mark 
c. Packaging 
d. Labelling 
PRICE MIX: It is the worth of a product or service in monetary terms : 
Factors considered before fixing price are 
a) Company objectives 
b) Cost 
c) Competition 
Page 4


 
 
CHAPTER – 11 
MARKETING MANAGEMENT             
14 Marks 
 
LINKING CLASS XI SYLLABUS: 
Business ?Trade?Aids to trade?Marketing/Advertising. 
 
CONCEPT MAPPING: 
1. Market, Consumer, Seller / Marketer – meaning 
2. Marketing – Meaning, Features  
3. Marketing Management Philosophies 
4. Marketing Functions 
5. Marketing Mix – product, price, place and promotion 
6. Advertising – meaning, features, merits and limitations.. 
7. Objections to advertising 
8. Sales promotion– meaning and variety of Tools / methods used. 
9. Personal selling –Concept  and qualities of a good salesman 
10.  Public Relations – concept and role. 
 
KEY CONCEPTS IN NUTSHELL 
MARKET :It refers to a place where the buyers and sellers meet each other for sale and 
purchase of the commodity. 
CUSTOMER :Customers refers to the people or organization that seek satisfaction of their 
needs and wants. 
SELLER OR MARKETEER :The sellers or marketers offer a variety of entities to customers. 
MARKETING :Marketing makes goods and services more useful to the society by creating 
place, time and possession utilities. 
FEATURES OF MARKETING : 
a. Needs and wants 
b. Creating a market offering 
c. Customer value 
d. Exchange mechanism 
 
DIFFERENCE BETWEEN SELLING CONCEPT AND MARKETING CONCEPT : 
Points Selling Concept Marketing Concept 
Starting point Factors Market 
Main Focus Attracting consumers Consumer satisfaction 
Means 
Advertising, personal selling and 
sales promotion 
Various marketing activities 
Ends Profit through maximum sales 
Profit through consumer 
satisfaction 
MARKETING MANAGEMENT: It deals with planning, organizing and controlling the activities 
related to the marketing of goods and services to satisfy the consumer’s wants. 
NATURE : 
1. It is goal diverted 
2. It determines the appropriate marketing mix if the firm. 
3. It is a functional area of management 
4. It is a specialized job 
5. It is the marketing concept in action 
OBJECTIVES : 
a. Creation of demand 
b. Market share 
c. Goodwill 
d. Profitable sales volume through customer satisfaction 
e. To determine marketing mix that will satisfy the needs of the customers 
f. To generate adequate profits for the growth of the business
 
MARKETING FUNCTIONS: 
1. Marketing research 
2. Marketing planning 
3. Product planning development 
4. Buying and assembling 
5. Packaging and labeling 
6. Branding 
7. Customer support services 
8. Storage and warehousing 
9. Transportation 
10. Promotion and selling 
11. Standardisation and grading 
12. Pricing 
13. Fixing 
14. Risk taking 
MARKETING MIX, ELEMENTS : 
1. Product Mix 
2. Price Mix 
3. Place Mix 
4. Promotion Mix 
MEANING OF MARKETING MIX: 
 It refers to the combination of four basic elements, product, price, promotion and 
the place known as the four P’s of marketing. 
PRODUCT: Total number of products and items that a particular seller offers to the 
market is called market mix. 
a. Branding 
b. Trade mark 
c. Packaging 
d. Labelling 
PRICE MIX: It is the worth of a product or service in monetary terms : 
Factors considered before fixing price are 
a) Company objectives 
b) Cost 
c) Competition 
 
d) Customer demand 
PLACE MIX : It refers to a set of decisions that need to be taken in order to make the 
product available to the consumers for purchase and consumption. 
Channels of distribution. 
Physical distribution 
Cost and service trade off in Logistics 
PROMOTION MIX: It is concerned with activities that are undertaken to communicate 
with both customers and participate in the channel of distribution such that sales goals 
are realized. 
ACTIVITIES INVOLVED IN PHYSICAL DISTRIBUTION OF GOODS 
a. Transportation 
b. Inventory 
c. Warehousing 
d. Order processing 
FACTORS TO BE KEPT IN MIND BEFORE PRICING 
a. Cost of production 
b. Demand for product 
c. Price if competitive firms 
d. Purchasing power if customers 
e. Government regulations 
f. Objective 
CHARACTERISTICS OF GOOD BRAND NAME : 
1. Simple and short 
2. Easily pronounceable 
3. Suggestive 
4. Distinctive 
VARIOUS LEVELS OF CHANNELS OF DISTRIBUTION 
1. Direct channel / Zero level channel 
2. Indirect channels 
a. One level channel – Manufacturer to Retailer 
b. Two level channel – Manufacturer to Wholesaler to Retailer 
c. Three level channel – Manufacturer to Agent – Wholesaler – Retailer - 
Consumer 
FUNCTIONS OF PACKAGING: 
a) Protection 
b) Identification 
c) Convenience 
Page 5


 
 
CHAPTER – 11 
MARKETING MANAGEMENT             
14 Marks 
 
LINKING CLASS XI SYLLABUS: 
Business ?Trade?Aids to trade?Marketing/Advertising. 
 
CONCEPT MAPPING: 
1. Market, Consumer, Seller / Marketer – meaning 
2. Marketing – Meaning, Features  
3. Marketing Management Philosophies 
4. Marketing Functions 
5. Marketing Mix – product, price, place and promotion 
6. Advertising – meaning, features, merits and limitations.. 
7. Objections to advertising 
8. Sales promotion– meaning and variety of Tools / methods used. 
9. Personal selling –Concept  and qualities of a good salesman 
10.  Public Relations – concept and role. 
 
KEY CONCEPTS IN NUTSHELL 
MARKET :It refers to a place where the buyers and sellers meet each other for sale and 
purchase of the commodity. 
CUSTOMER :Customers refers to the people or organization that seek satisfaction of their 
needs and wants. 
SELLER OR MARKETEER :The sellers or marketers offer a variety of entities to customers. 
MARKETING :Marketing makes goods and services more useful to the society by creating 
place, time and possession utilities. 
FEATURES OF MARKETING : 
a. Needs and wants 
b. Creating a market offering 
c. Customer value 
d. Exchange mechanism 
 
DIFFERENCE BETWEEN SELLING CONCEPT AND MARKETING CONCEPT : 
Points Selling Concept Marketing Concept 
Starting point Factors Market 
Main Focus Attracting consumers Consumer satisfaction 
Means 
Advertising, personal selling and 
sales promotion 
Various marketing activities 
Ends Profit through maximum sales 
Profit through consumer 
satisfaction 
MARKETING MANAGEMENT: It deals with planning, organizing and controlling the activities 
related to the marketing of goods and services to satisfy the consumer’s wants. 
NATURE : 
1. It is goal diverted 
2. It determines the appropriate marketing mix if the firm. 
3. It is a functional area of management 
4. It is a specialized job 
5. It is the marketing concept in action 
OBJECTIVES : 
a. Creation of demand 
b. Market share 
c. Goodwill 
d. Profitable sales volume through customer satisfaction 
e. To determine marketing mix that will satisfy the needs of the customers 
f. To generate adequate profits for the growth of the business
 
MARKETING FUNCTIONS: 
1. Marketing research 
2. Marketing planning 
3. Product planning development 
4. Buying and assembling 
5. Packaging and labeling 
6. Branding 
7. Customer support services 
8. Storage and warehousing 
9. Transportation 
10. Promotion and selling 
11. Standardisation and grading 
12. Pricing 
13. Fixing 
14. Risk taking 
MARKETING MIX, ELEMENTS : 
1. Product Mix 
2. Price Mix 
3. Place Mix 
4. Promotion Mix 
MEANING OF MARKETING MIX: 
 It refers to the combination of four basic elements, product, price, promotion and 
the place known as the four P’s of marketing. 
PRODUCT: Total number of products and items that a particular seller offers to the 
market is called market mix. 
a. Branding 
b. Trade mark 
c. Packaging 
d. Labelling 
PRICE MIX: It is the worth of a product or service in monetary terms : 
Factors considered before fixing price are 
a) Company objectives 
b) Cost 
c) Competition 
 
d) Customer demand 
PLACE MIX : It refers to a set of decisions that need to be taken in order to make the 
product available to the consumers for purchase and consumption. 
Channels of distribution. 
Physical distribution 
Cost and service trade off in Logistics 
PROMOTION MIX: It is concerned with activities that are undertaken to communicate 
with both customers and participate in the channel of distribution such that sales goals 
are realized. 
ACTIVITIES INVOLVED IN PHYSICAL DISTRIBUTION OF GOODS 
a. Transportation 
b. Inventory 
c. Warehousing 
d. Order processing 
FACTORS TO BE KEPT IN MIND BEFORE PRICING 
a. Cost of production 
b. Demand for product 
c. Price if competitive firms 
d. Purchasing power if customers 
e. Government regulations 
f. Objective 
CHARACTERISTICS OF GOOD BRAND NAME : 
1. Simple and short 
2. Easily pronounceable 
3. Suggestive 
4. Distinctive 
VARIOUS LEVELS OF CHANNELS OF DISTRIBUTION 
1. Direct channel / Zero level channel 
2. Indirect channels 
a. One level channel – Manufacturer to Retailer 
b. Two level channel – Manufacturer to Wholesaler to Retailer 
c. Three level channel – Manufacturer to Agent – Wholesaler – Retailer - 
Consumer 
FUNCTIONS OF PACKAGING: 
a) Protection 
b) Identification 
c) Convenience 
 
FUNCTIONS OF LABELLING: 
a) Identification 
b) Classification 
c) Promotion 
ADVANTAGES OF BRANDING: 
a) Brand name helps in advertising in easier way 
b) Brand name establishes the permanent identify of the product. 
c) Brand name promotes repurchasing. 
d) Competition becomes easier with the help of brand loyalty. 
ADVERTISING: It is defined as any paid form of non-personal presentation or 
promotion of ideas, goods or services by an identified sponsor. 
Merits:  1) Mass reach 
  2) Enhancing customer satisfaction 
  3) Expressiveness 
  4) Economical 
Limitations: 1) Less forceful 
  2) Lack of feed back 
  3) Inflexibility 
  4) Low effectiveness 
Features: a) Paid form 
   b) Impersonal presentation 
   c) Speedy and mars communication 
   d) Identified sponsor 
OBJECTIONS TO ADVERTISEMENT 
a) Adds to Costs: Advertising costs are passed on to the consumers in the form of 
high prices. 
b) Some Advertisements are in bad taste. 
c) Undermines social values. 
d) Confuses the buyers. 
e) Encourages the sale of inferior goods. 
PERSONAL SELLING: It involves face-to-face interaction between the seller and the 
prospective buyer. 
Features:  1) Personal interaction 
     2) Two way communication 
     3) Better response 
    4) Relationship 
QUALITIES OF A GOOD SALES MAN: 
i) Physical Qualities – personality , stamina, health,tolerance 
ii) Mental Qualities – mental alertness, sharp memory, initiative, imagination 
and self confidence. 
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