Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Balbharti Maharashtra State Board 12th OCM Important Questions Chapter 8 Marketing Important Questions and Answers.

Maharashtra State Board 12th Commerce OCM Important Questions Chapter 8 Marketing

Select the correct options and rewrite the sentence

Question 1.
In …………….. there are few sellers selling homogeneous products or differentiated products in the market.
(a) Monopoly
(b) Duopoly
(c) Oligopoly
Answer:
(c) Oligopoly

Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Question 2.
The process of classification of products according to similar characteristics and/or quality is known as ………………
(a) Standardisation
(b) Grading
(c) Branding
Answer:
(b) Grading

Question 3.
The market which uses Information Technology for buying and selling of product or service is known as ………………….
(a) Exchange concept of market
(b) Digital concept of market
(c) Place concept of market
Answer:
(b) Digital concept of market

Question 4.
The market for semi-processed or semifinished goods is called ……………………
(a) Primary Market
(b) Secondary Market
(c) Terminal Market
Answer:
(b) Secondary Market

Question 5.
……………….. helps to avoid breakage, damage and destruction of product.
(a) Packaging
(b) Grading
(c) Branding
Answer:
(a) Packaging

Question 6.
……………… gives a special identity to the product.
(a) Grading
(b) Packaging
(c) Branding
Answer:
(c) Branding

Match the pairs

Question 1.

Group A Group B
(A) Regulated Market 1. Market of consumer goods
(B) Capital Market 2. Monopoly
(C) Tool of Marketing 3. Provides employment
(D) Marketing Mix 4. Stock Exchange
(E) Promotion 5. Market not controlled by regulation
6. Provides quality products
7. 4 Ps
8. Packaging and labelling
9. Process of informing customers about producer
10. Borrowing and lending long term capital

Answer:

Group A Group B
(A) Regulated Market 4. Stock Exchange
(B) Capital Market 10. Borrowing and lending long term capital
(C) Tool of Marketing 8. Packaging and labelling
(D) Marketing Mix 7. 4 Ps
(E) Promotion 9. Process of informing customers about producer

Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Question 2.

Group A Group B
(A) Customer Support Service (1) Creates good design of product
(B) Label (2) To identity Need/ Want of Consumers
(C) Product Development (3) Provides Information
(D) Marketing Research (4) After Sales Services
(E) Trademark (5) Movement of finished goods
(6) Storage of goods
(7) Registered Brands
(8) King of Market
(9) Distribution Channel
(10) Decreases Distribution cost

Answer:

Group A Group B
(A) Customer Support Service (4) After Sales Services
(B) Label (3) Provides Information
(C) Product Development (1) Creates good design of product
(D) Marketing Research (2) To identity Need/ Want of Consumers
(E) Trademark (7) Registered Brands

Give one word/phrase/term for the following statements

Question 1.
The market for the commodities which are sold within geographical limits of a region.
Answer:
Local Market

Question 2.
The market for agricultural and forest products.
Answer:
Primary Market

Question 3.
Where there is single seller or producer who controls the market.
Answer:
Monopoly

Question 4.
Market situation where there is single buyer of a commodity or service.
Answer:
Monopsony

Question 5.
Market where lEirge number of buyers and sellers buy and sell their homogeneous products.
Answer:
Perfect Market.

Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Question 6.
The process of identifying the needs Emd wants of consumers in the market.
Answer:
Marketing Research

Question 7.
The tool of market that helps to publicise the product to the consumer.
Answer:
Promotion

Question 8.
Putting the right product at the right time, at the right place, at the right price.
Answer:
MEirketing Mix

Question 9.
Slip attached to the product which provides all the information regEirding product and its producer.
Answer:
Labelling

Question 10.
Function of determining standards and ensuring uniformity in the product.
Answer:
Standardisation

Question 11.
The market for the commodities which are sold within country.
Answer:
National Market

Question 12.
The market for commodities which are produced in one country and sold in other countries.
Answer:
International Market

Question 13.
A type of market which has very short time existence.
Answer:
Very Short Period s Market

Question 14.
A market in which the activities of buying and selling is undertaken in large quantities at cheaper rate.
Answer:
Wholesale Market

Question 15.
A market where goods are sold to ultimate consumers.
Answer:
Terminal Market.

State whether following the statements are True or False

Question 1.
Monopsony refers to a market situation where there is a single seller of a commodity or service.
Answer:
False

Question 2.
Product development is one time process.
Answer:
False

Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Question 3.
Marketing follows customer oriented approach.
Answer:
True

Question 4.
Commodity Exchanges, Stock Exchanges, Foreign ExchEmges are examples of unregulated or raw market.
Answer:
False

Question 5.
Effective utilisation of channel of distribution can help in reducing the cost price of product.
Answer:
True.

Find the odd one

Question 1.
Local market, International market, Terminal j market, National market
Answer:
Terminal market

Question 2.
Very short period market, Perfect market, Short period market, Long period market
Answer:
Perfect market

Question 3.
Monopoly, Monopsony, Oligopoly, Imperfect market
Answer:
Imperfect market.

Complete the sentences

Question 1.
…………….. is a part and parcel of modern day’s life.
Answer:
Marketing

Question 2.
…………….. is the king of the market.
Answer:
Customer

Question 3.
Market which uses Information Technology for buying and selling of goods or services is called ………………..
Answer:
Digital market

Question 4.
Market for goods, materials, consumer and industrial goods is called ………………….
Answer:
Commodity market

Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Question 5.
………………. market refers to the markets regulated by statutory provisions of the country.
Answer:
Regulated

Question 6.
In …………………. there are two sellers, selling either a homogenous product or differentiated products.
Answer:
Duopoly

Question 7.
…………………. involves collecting raw materials from different sources and bringing them at one place for production.
Answer:
Assembling.

Correct the underlined word and rewrite the sentence

Question 1.
Transportation creates time utility.
Answer:
Perfect market refers to a market situation which is characterised by large number of buyers and sellers who buy and sell their homogeneous products.

Question 2.
Imperfect market refers to a market situation which is characterised by large number of buyers and sellers who buy and sell their homogeneous products.
Answer:
Warehousing creates time utility.

Question 3.
Producer is the king of the market.
Answer:
Consumer is the king of the market.

Question 4.
Retail market refers to the market of bulk purchase and sale of goods.
Answer:
Wholesale market refers to the market of bulk purchase- and sale of goods.

Question 5.
Determining the right price is the result of product development.
Answer:
Determining the right price is the result of marketing research.

Maharashtra Board 12th OCM Important Questions Chapter 8 Marketing

Arrange in proper order

Question 1.
Terminal market, Primary market, Secondary market.
Answer:
Primary market, Secondary market, Terminal market.

Distinguish between

Question 1.
Marketing and Selling
Answer:

Taiga Region Tundra Region
1. Meaning Marketing refers to a process in which needs are identified or created, products offered and delivered to the consumers. Selling refers to a process of processing orders from customers and delivering the products to them.
2. Concept As compared to selling, marketing is wider concept. It comprises of selling and other functions. As compared to marketing, selling is narrower concept. It is part and parcel of marketing concept.
3. Essential Fulfilling the needs and satisfaction of the consumers are the essence of the marketing concept. Transfer of title and possession of the products from one person to another are the essence of selling.
4. Orientation Marketing is consumer oriented. It stresses more on consumers and the maximisation of their satisfaction. Selling is product oriented. It stresses more on the product and its efficiency.
5. Views Marketing views (looks at) the customers as they are the centre of all activities of marketing. Selling views (looks at) the customers as a last link in the activities of selling.
6. Activity Marketing is an indirect activity. Selling is a direct activity.