Text Book Back Questions and Answers - Chapter 13 - Concept of Market and Marketer - 12th Commerce Guide Samacheer Kalvi Solutions

You can Download the Text Book Back Questions and Answers - Chapter 13 - Concept of Market and Marketer - 12th Commerce Guide Samacheer Kalvi Solutions with expert answers for all chapters. Perfect for Tamil & English Medium students to revise the syllabus and score more marks in board exams. Download and share it with your friends

Share this to Friend on WhatsApp

Samacheer Kalvi 12th Commerce Solutions Chapter 13 Concept of Marketing and Marketer - Text Book Back Questions and Answers 

I. Choose the Correct Answer

Question 1.
The market is derived from the Latin word ……………..
a) Mercatus
b) Merchants
c) Merchandise
d) All of these
Answer:
a) Mercatus

Question 2.
The marketer initially wants to know in the marketing is _____
(a) Qualification of the customer
(b) Quality of the product
(c) Background of the customers
(d) Needs of the customers
Answer:
(d) Needs of the customers

Question 3.
The Spot market is classified on the basis of _____
(a) Commodity
(b) Transaction
(c) Regulation
(d) Time
Answer:
(b) Transaction

Question 4.
World Market or International market is where the buyers and sellers of ………… countries participate.
a) Home country
b) Only one country
c) Different countries
d) NOTA
Answer:
c) Different countries

Question 5.
Pick the odd one out:
a) Money market
b)Stock ‘market
c) Stock market
d) Unregulated market
Answer:
d) Unregulated market

II. Very Short Answer Questions

Question 1.
What is the Market?
Answer:
A market is a place where goods are Bought or Sold
or
It is a medium or place to interact and exchange goods and services.
or
It is the meeting place of Buyers and Sellers in an area.

Question 2.
Define Marketer.
Answer:
“A person whose duties include the identification of the goods and services desired by a set of consumers, as well as the marketing of those goods and services on behalf of a company”.

Question 3.
What is meant by Regulated Market?
Answer:
“Regulated Markets” are organized, controlled, and regulated by statutory measures. [Laws]. or [Rules and Regulations].
(e.g) Stock Exchanges of Chennai – Mumbai – Kolkata etc.

Question 4.
Mention any four differences between Wholesale Market and Retail Market.
Answer:

Question 5.
What is meant by Commodity Market?
Answer:
A “Commodity Market” is a place where Manufactured goods or consumer goods are Bought and Sold.

III. Short Answer Questions

Question 1.
What can be marketed in the Market?
Answer:
The dynamic items that can be marketed are listed below:

1. Goods

2. Services

3. Experiences

4. Events

5. Persons

6. Places

7. Properties

8. Organisations

9. Information

10.Ideas

Question 2.
Differentiate the spot market from the future market.
Answer:
Spot market:
In such markets, goods are exchanged and the physical delivery of goods takes place immediately.

Future market:

• In such markets, contracts are made over the price for future delivery.
• The dealing and settlement take place on different fates.

Question 3.
The marketer is an innovator? Do you agree?
Answer:

• Yes. The marketer is an Innovator. I agree.
• He seeks to distinguish his products or services by additional features and functionalities to the existing products.
• He changes the price structure, new delivery pattern, creating new models, production process, etc.

Question 4.
Why Customer support is needed to Market?
Answer:
Customer or the consumer is the king and is considered to be a guest to your shop. Without the customer, there is no business. To develop the market the number of customers is to be increased. So customer support is necessary to increase the sales and gain more profit.

Question 5.
Explain the types of markets on the basis of time.
Answer:

• Gathering and Analysing Market Information
•  Market Planning
•  Product designing and development.
•  Packaging and labelling
•  Pricing of products
•  Promotion and selling
•  Branding
•  Standardisation and grading
•  Customer support services.
• Product designing and development.
• Pricing of products

Physical distribution

• Transportation
• Storage and warehousing

Question 6.
Classify the market on the basis of Regulation.
Answer:
Regulated market:
These are types of markets which are organized, controlled, and regulated bv statutory measures. |eg] stock Exchange.

Unregulated market:
A market which is not regulated by statutory measures.

IV. Long Answer Questions

Question 1.
How the market can be classified on the basis of Geographical Area?
Answer:
Family market: When goods and services bought and sold confined within a family or close members of the family, such a market can be called a “Family market”.

Local market: Participation of both the Buyers and Sellers belonging to a local area or areas, maybe Town or village, is called as “Local market”.

National market: Certain type of commodities has demand throughout the country. Hence it is called the “National market”.

International market:
world market or International market is one where Buyers and Sellers of goods are from different countries.

Question 2.
How the market can be classified on the basis of Economics?
Answer:
Perfect Market: [BPL] [GG]
A market is said to be a “perfect market” when Buyers and Sellers have a perfect knowledge of the market.

•  Prices should be uniform throughout the market.
•  A large number of Buyers and Sellers are there
•  Goods can be moved from one place to another without restrictions.
•  Goods are identical or homogeneous.

Imperfect Market: [PPL R]
A market is said to be an “Imperfect market” when

•  Products are similar but not identical
•  Prices are not uniform.
•  Lack of communication
•  Restrictions on the movement of goods.

Question 3.
What is your contribution to promote the market in modern society?
Answer:

• To promote the market [sales promotion] market information is too important.
• A Businessman can promote his market with the help of the following advertising media.

Periodicals:
A Businessman can communicate information to the users of goods and services through periodicals like Dailies, weeklies, monthlies, magazines, etc, and Audiovisual media.

Electronic Media:
A Businessman can communicate messages to the customers through Electronic Media like TV, Radio, Internet (online), mobile Apps, etc.

Gifts: To promote the market, attracting the customers by giving free gifts like pens, key – chains, calendars, Gift coupons, cash Discounts, etc.

Other Suggestions:

• Plan the market strategy.
• Innovation in the products and services.
• Change the price structure.
• Creating new business models.
• New delivery pattern.
• Make what you can sell, But try to sell what you can make.
• First, create customers and not the products.
• Love your customers and not the products.
• Customer’s preferences shape your decisions.