Students preparing for CBSE Class 12th Business Studies exam must check the compiled set of questions & answers. The given set of questions is from Chapter 11 (Marketing). If you are appearing for CBSE Board Exam 2020, you can practice these questions which are taken from NCERT and other reference books.
Q1- Define marketing? Explain its functions in the process of exchange of goods and services?
Ans- Marketing is the process wherein the buyers and sellers interact with each other with the purpose of purchase and sale of goods and services. Marketing involves certain functions like designing the product, planning, packaging, and labeling of the product and many other ways. It also involves activities after the sale of the product.
Q2- Discuss the functions of labeling in the marketing of products.
Ans- The various forms of functions performed are:
- Identification and Differentiation
- Promotes the Production
- Standardizing and Grading
- Information Required for Law
- Description of Use and Contents
Q3- In what way does labeling act as a silence salesman?
Ans: Labelling acts as a silence salesman as it attracts the customers by transferring the necessary information. It works as a promotional tool.
Q4- What is advertising? Mention its main features? Explain.
Ans- Advertising is a technique that is used to promote a product. Advertising helps the companies attract customers to their products and encourage them to purchase it.
The main features of advertising are:
- Impersonal Mode
- Specific Sponsor
- Cost Involved
Q5- Which level of channel starting from producer to retailer to a consumer?
Ans: One level channel
Q6- What are the components of physical distribution.
Ans- The components of physical distribution are:
- Transportation of Products
- Processing of Order
- Maintenance of Inventory
Q7- Discuss the role of‘sales promotion' an element of promotion mix.
Ans- Sales promotion is the incentives that are offered to the buyers with the purpose of encouraging them to purchase the product. It attracts customers and induces them to immediately purchase the product.
Q8- Give any four characteristics a good brand name should have.
Ans- The four characteristics that a good brand name should have are:
- It must showcase product qualities and benefits
- The brand name must be adaptable to packing and labeling
- Brand names should be easy to spell, short, and recognizable.
- It must be unique from any other
Q9- What are the different factors that affect the fixation of the price of a product?
Ans: The different factors affecting the fixation of the price of a product are.
- Good cost
- The level of competition in the market
- Demand and Utility of the product
- Legal and government regulations regarding the product
Q10- Mention the factors which affect determining the price of a product or service? Explain.
Ans- The factors affecting the product price or service are:
- The demand for the Product
- Cost of the Product
- Objectives of Pricing
- Government Regulations
- Degree of Competition in the market