NCERT Solutions for Class 12 Business Studies Chapter 10 Marketing, Download PDF

NCERT Solutions for Business  Studies: This article hands out complete NCERT Solutions for CBSE Class 12 Business Studies chapter 10, Marketing. The chapter number can also be stated as Business Studies Part 2, Chapter 2, Marketing. This has been included to avoid any confusion in chapter numbers students might have due to changes and variations created in the updated syllabus. Students can also find attached a PDF download link for the same, which has been attached towards the end of the article. NCERT Solutions for class 12 Business Studies chapter 10 all exercise pdf download link have been attached below for your reference. 

As mentioned above, there has been a change in the syllabuses of almost all subjects of Class 12. However, students can be carefree while referring to these NCERT Solutions since they have been prepared as per the Revised CBSE Syllabus 2023-2024. CBSE Board Exams 2024 aspirants must have a look at the current CBSE Syllabus before they start their Board preparations. A link for the same has also been attached below for your reference. NCERT Solutions for Class 12 Business Studies Chapter 10 will help you understand the concepts of the chapter and ensure that you answer every question in the exam, asked from the chapter. 

Related:

CBSE Class 12 Business Studies Syllabus 2023-2024

CBSE Class 12 Business Studies Sample Paper 2023-2024

MCQs for CBSE Class 12 Business Studies

NCERT Solutions for Class 12 Business Studies Chapter 10 Marketing

Very Short Answer Type

1. State any two advantages of branding to marketers of goods and services?

Answer. Two advantages of branding to marketers of goods and services are:

• It helps in identifying and distinguishing their products from the competitors’ products.
• It gives an identity to your brand or your product and often the features of branding become so famous that the brand becomes recognizable through them. For example, Cococola is easily identifiable by a combination of red and black. So, anyone who sees a combination of this color can immediately think of Coca-Cola.

2. How does branding help in differential pricing?

Answer. Brands possess brand equity. They are associated with its pricing and premium values. Thus, your brand name makes you differentiate pricing from your competitors. For example, Mc Donald’s has associated itself with the minimal price range in the food segment, and especially in its domain i.e. Burgers and french fries. This branding of Mc Donald helped it differentiate its pricing from every other competitor.

3. What is the societal concept of marketing?

Answer. The societal marketing concept holds that the task of any organisation is to identify the needs and wants of the target market and deliver the desired satisfaction in an effective and efficient manner so that the long-term well-being of the consumers and society is taken care of. It is concerned with the long-term welfare of the society.

4. Enlist the advantages of packaging of consumer products.

Answer. The advantages of packaging of consumer products are:

• Rising Standards of Health and Sanitation have led to buying of packaged products, considering it is free from adulteration.
• Packaging has led to new innovations, such as milk can now be stored for days through tetra packs.
• Customers might often get attracted to your packaging even if they don’t like your product in comparison to your competitors. This is mostly used in beauty brands.
• It helps you to differentiate your product from the competitors.

5. List five shopping products purchased by you or your family during the last few months.

Answer. (The answer varies from person to person)

6. A marketer of colour TV having 20% of the current market share of the country aims at enhancing the market share to 50 per cent in next three years. For achieving this objective he specified an action programme. Name the function of marketing being discussed above.

Answer. The function of marketing being discussed here is marketing planning.

Short Answer Type

1. What is marketing? What functions does it perform in the process of exchange of goods and services? Explain.

Answer. It is referred to as the performance of business activities that direct the flow of goods and services from producers to consumers. Marketing is an umbrella term that consists of activities such as product designing or merchandising, packaging, warehousing, transportation, branding, selling, advertising and pricing. The role of marketers starts right from the idea of production. Choosing the target audience, and demographics, dividing them into segments, choosing the location of launch, cities in which the product is to be, made available, etc all fall under marketing. So, it does not necessarily start post-production.

The functions of marketing are as follows:

• Gathering and Analysing Market Information- As mentioned above, the job of a marketer starts right from the emergence of the idea of production. The foremost role is to analyse the target market and consumers, who are the people that are going to buy your product.
• Marketing Planning- Marketing plans are made to achieve the marketing objectives.
• Product Designing and Development- How to make the product look attractive is the role of a marketer.
• Standardisation and grading- Standardisation refers to producing goods of predetermined specifications, which helps in achieving uniformity and consistency in the output. Grading is the process of classification of products into different groups, on the basis of some of its important characteristics such as quality, size, etc.
• Packaging and Labelling- Packaging refers to designing and developing the package for the products. Labeling refers to designing and developing the label to be put on the package. The label may vary from a simple tag to complex graphics.
• Branding- One of the most important functions of marketing is to whether to sell the product in its generic name or brand name.
• Customer Support Services- It is the role of a marketer to develop customer support services such as after-sales services, handling customer complaints and adjustments, procuring credit services, maintenance services, technical services, and consumer information
• Pricing of Product-Price of a product refers to the amount of money customers have to pay to obtain a product.
• Promotion- Promotion of products and services involves informing the customers about the firm’s product, its features, etc., and persuading them to purchase these products.
• Physical Distribution- The two major decision areas under this function include (a) decision regarding channels of distribution or the marketing intermediaries (like wholesalers, retailers) to be used and (b) physical movement of the product from where it is produced to a place where it is required by the customers for their consumption or use
• Transportation- Transportation involves the physical movement of goods from one place to the other. It is necessary to move them to the place where it is needed for consumption or use.
• Storage or Warehousing- The products have to be stored due to irregular demand. , there is a need for storage of adequate stock of goods to protect against unavoidable delays in delivery or to meet contingencies in demand.

2. Distinguish between the product concept and production concept of marketing.

Answer. Differences between the product concept and production concepts of marketing are as follows:

3. Product is a bundle of utilities. Explain.

Answer.  A product is said to be a bundle of utilities because its main objective is to fulfill the needs and wants of the customer. It aims at becoming useful to the consumer to the extent that it becomes an integral part of their lives. For example, Toothpaste, every one of us uses toothpaste every day and can’t even live without it. It fulfills our need of keeping our mouths fresh and gum free. Now, apart from serving basic needs, brands also focus on giving something unique to their customers, a feature or a quality or at a price range that is unique from its competitors. This acts as an additional benefit to the consumers of the product. Since, a product delivers multiple utilizations and satisfies various needs and wants of the consumer, it can be said that it is a  bundle of utilities.

4. What are industrial products? How are they different from consumer products? Explain.

Answer. Industrial products are those products, which are used as inputs in producing other products. Examples of such products are raw materials, engines, lubricants, machines, tools, etc. In other words, industrial products are meant for non-personal and business use for producing other products.

They are different from consumer products in the following ways:

• Consumer products have an advantage over industrial products with respect to the consumption power of the users.
• Consumer products go through a long process of production till distribution until it reaches the consumers whereas industrial products mainly require direct or personal selling.
• Industrial products are not available to the general public easily but consumer products are conveniently available.
• Industrial products undergo a lot of technicalities in their manufacturing process whereas consumers product don’t.

5. Distinguish between convenience product and shopping product.

Answer. The differences between convenience product and shopping product are:

6. Describe the functions of labeling in the marketing of products.

Answer. The functions of labeling in the marketing of products are as follows:

• Describe the Product and specify its contents- One of the most important functions of labels is to describe the product, its usage, cautions in use, etc., and specify its contents. For example: Packages of fast food products like ready-to-eat Dosa, Idli, or Noodles, describe the procedure of cooking these products.
• Identification of the Product or brand- It helps in identifying the product or brand. For example, the brand name of any product, say Biscuits or Potato Chips imprinted on its package helps us to identify, from the number of packages, which one is our favourite brand
• Grading of Products- It helps in grading the products into different categories. Sometimes marketers assign different grades to indicate different features or quality of the product. For example, a popular brand of Hair Conditioners comes in different categories for different hair.
• Helps in Promotion of Products- It aids in the promotion of the products. For example the pack of a popular Amla Hair Oil states, ‘Baalon mein Dum, Life mein Fun’.
• Providing Information Required by Law- Another important function of labeling is to provide information required by law. For example, packaged food articles must have a list of ingredients declaration regarding vegetarian or non-vegetarian food additives and the date of manufacturing or packing on the label.

7. Discuss the role of intermediaries in the distribution of consumer non-durable products.

Answer. The role of intermediaries in the distribution of consumer non-durable products are:

• Arrangement- The foremost role of an intermediary is to sort the supplies on the basis of their usage and functions.
• Collection- An intermediary has to keep a good collection of goods and services for easy and continuous supply.
• Allocation and Packaging- Here, the product and its supplements into smaller units.
• Building variety- Variety can be built by maintaining a collection. Intermediary can gather different products from different sources and sell them in combination as well, to build variety.
• Promotion of product- Intermediaries can help in the promotion of products.
• Meditation- He/she helps satisfy the needs of both parties by negotiating the price, quantity, quality, etc.
• Bearing Risk- Intermediaries bear the risk of keeping the goods with them until the final sale of the products. In between sale, demand, expiry, etc. of the products has to be dealt with by the intermediaries.

8. Define advertising? What are its main features? Explain.

Answer. It is an impersonal form of communication, which is paid for by marketers (sponsors) to promote some goods or services. It is one of the most widely used tools of promotion. Advertising includes ensuring your products get displayed in their best attire and reach the correct masses via the correct mediums.

The main features of advertising are:

• Paid Form- Every advertisement is paid. It is a paid form of communication.
• Impersonality- It is an impersonal method of promotion since there’s no direct face-to-face communication between the advertiser and the consumers.
• Identified Sponsor- It is undertaken by some identified individual or company, that makes the advertising efforts and also bears the cost of it.

9. Discuss the role of ‘sales promotion’ as an element of promotion mix.

Answer. Sales promotion is one of the most widely accepted and flourishing forms of promotion. It is concerned with the most important element in a purchase, the price of the product. Sales promotion is used to provide incentives to consumers. These include discounts, buy one get one free offer, gifts, hampers, etc. Any additional benefit provided to the consumers in terms of the promotion of the product is called sales promotion. It is an element of the promotion mix since its focus is on providing monetary benefits to consumers.

10. As the marketing manager of a big hotel located at an important tourist destination, what societal concerns would be faced by you, and what steps would you plan to take care of these concerns? Discuss.

Answer.  As the marketing manager of a big hotel located at an important tourist destination, my societal concerns include ensuring that the environment, important tourist spots, and tourists visiting the place do not get impacted or harmed by the activities of the hotel. Also, I would focus on maintaining fair pricing for tourists.

11. What information is generally placed on the package of a food product? Design a label for one of the food products of your choice.

Answer. The following information is generally placed on the package of a food product:

• Production Company
• Manufacturer or Manufacturing Company’s name
• Location of manufacture
• Date of expiry
• Date of manufacturing
• Price of the product(MRP)
• Contents present
• Precautions, if any

The second part of the answer depends on to person. You can choose any product to create its label. For reference, students can also refer to the backside of any product.

12. For buyers of consumer durable products, what ‘customer care services’ would you plan as a manager of a firm marketing new brand of motorcycle. Discuss.

Answer. As a manager of a firm marketing new brand of motorcycle, I would provide the following customer care services:

• I would provide free timely service for a few years.
• Ensuring that all the spare parts are made available to the consumers
• Giving one free accessory to the consumers
• Laying down a wide variety of accessory choices
• Taking genuine feedback and working on it
• Listening to complaints and rectifying them.  

Long Answer Type

1. What is marketing concept? How does it help in the effective marketing of goods and services.

Answer. Marketing orientation implies that focusing on the satisfaction of customer’s needs is the key to the success of any organisation in the market. All the decisions in a firm are taken from the point of view of the customers. In other words, customer satisfaction becomes the focal point of all decision-making in the organization. The basic role of a firm then is to ‘identify a need and fill it’. The concept implies that products and ad services are bought not merely because of their quality, packing, or brand name, but because they satisfy a specific need of a customer. A pre-requisite for the success of any organization, therefore, is to understand and respond to customer needs.

It helps in the effective marketing of goods and services in the following manner:

• It identifies the gaps in the market
• It provides consumers with what they need and want
• It helps in responding to customer’s needs
• It helps in maximizing the profit of an organization by providing consumers with what they want.

2. What is marketing mix? What are its main elements? Explain.

Answer. Marketing mix is a combination of certain elements that form the basis for the marketing of any product. Its main elements are as follows:

• Product- Product means goods or services or ‘anything of value’, which is offered to the market for sale. For example: Tata offers Tata Steel, Trucks, Salt, and a large number of other products. The concept of a product relates to not only the physical product but also the benefits offered by it from the customer’s viewpoint. For example, toothpaste is bought for whitening teeth, strengthening gums, etc. The important product decisions include deciding about the features, quality, packaging, labeling, and branding of the products.
• Price- Price is the amount of money customers have to pay to obtain the product. Marketers have not only to decide about the objectives of price setting but also to analyze the factors determining the price and fix a price for the firm’s products.
• Place- Place or Physical Distribution includes activities that make the firm’s products available to the target customers. Important decision areas in this respect include the selection of dealers or intermediaries to reach the customers, and providing support to the intermediaries (by way of discounts, promotional campaigns, etc.).The other decision areas relate to managing inventory, storage and warehousing, and transportation of goods from the place it is produced to the place it is required by the buyers.
• Promotion- Promotion of products and services includes activities that communicate the availability, features, merits, etc., of the products to the target customers and persuade them to buy them. Advertising, personal selling, and sales promotion techniques can be used by marketers to involved in promotions with things like price discounts, free samples, etc.  

3. How does branding help in creating product differentiation? Does it help in marketing of goods and services? Explain.

Answer.  Branding gives an identity to the brand and the product. It associates a name, colors, brand representation, logo, etc. all the elements that come under branding. These elements of branding help in creating product differentiation. The entire process of branding helps in creating product differentiation. Brand, brand name, trademark, brand mark, etc. all contribute towards defining a brand in a unique manner and presenting it as a separate entity. It helps in marketing of goods and services in the following manner:

(i) It helps in identifying and distinguishing their products from the competitors’ products.

(ii)It gives an identity to your brand or your product and often the features of branding become so famous that the brand becomes recognizable through them. For example, Coca-Cola is easily identifiable by a combination of red and black. So, anyone who sees a combination of this color can immediately think of Coca-Cola.

To find the complete NCERT Solutions for Class 12 Business Studies Chapter Marketing, click on the link below.

Also Find:

CBSE Class 12 Syllabus 2023-24 (All Subjects)

CBSE Class 12 Sample Papers 2023-24 (All Subjects)

NCERT Books for Class 12 (All Subjects)

NCERT Solutions for Class 12 (All Subjects)