TN 12th Commerce Solutions Chapter 13 Concept of Marketing and Marketer

Tamilnadu 12th Commerce Solutions Chapter 13 Concept of Marketing and Marketer.12th standard students who want to get full marks in public examination conducted by Tamilnadu government must go through this guide. This is a book back answers all in one page. This guide is separated by chapter wise. One mark two mark and all brief questions are answered on this page

TN 12th Commerce Concept of Marketing and Marketer Textbook Exercise Questions and Answers

I. Choose the Correct Answer

1.One who promotes (or) Exchange of goods or services for money is called as _____
(a) Seller
(b) Marketer
(c) Customer
(d) Manager
Answer:
(b) Marketer

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

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

4.Which one of the markets deals in the purchase and sale of shares and debentures?
(a) Stock Exchange Market
(b) Manufactured Goods Market
(c) Local Market
(d) Family Market
Answer:
(a) Stock Exchange Market

5.Stock Exchange Market is also called _____
(a) Spot Market
(b) Local Market
(c) Security Market
(d) National Market
Answer:
(d) National Market

II. Very Short Answer Questions

1.What is a Market?
Answer:
The word market is derived from the Latin word ‘Marcatus’ which means trade, commerce,* merchandise, a place where business is transacted.

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”.

3.What is meant by Regulated Market?
Answer:
Very Short Period Market: Markets which deal in perishable goods like, fruits, milk, vegetables etc., are called as very short period market.

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

S.No.	Wholesale Market	Retail Market
1.	Goods are supplied in bulk quantity.	Goods are sold to customers in small quantities.
2.	Goods are supplied to dealers and retailers.	Goods are sold to the public.
3.	Goods are purchased directly from manufacturer.	Goods are purchased from the wholesaler.
4.	The price of the goods are lesser.	The price of the goods are costlier.

5.What is meant by Commodity Market?
Answer:
A commodity market is a place where produced goods or consumer goods are bought and sold.

III. Short Answer Questions

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

2.Mention any three Role of Marketer.
Answer:

1. Instigator: As an instigator, marketer keenly watches the developments taking place in the market and identifies marketing opportunities emerging in the ever changing market.
2. Integrator: Marketer plays a role of integrator in the sense that he collects feedback or vital inputs from channel members and consumers.
3. Implementer: Marketer plays a role of implementer when he/she actually converts marketing opportunities into marketable product.

3.Marketer is an innovator? Do you agree?
Answer:
Marketer seeks to distinguish his products/services by adding additional features or functionalities to the existing product, modifying the pricing structure, introducing new delivery pattern, creating new business models, introducing change in production process and so on.

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.

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

1. Very Short Period Market: Markets which deal in perishable goods like, fruits, milk, vegetables, etc., are called as very short period market. There is no change in the supply of goods.
2. Short Period Market: In certain goods, supply is adjusted to meet the demand. The demand is greater than supply. Such markets are known as Short Period Market.
3. Long Period Market: This type of market deals in durable goods, where the goods and services are dealt for longer period usages

6.List down the functions of the Marketer.
Answer:

1. Gathering and Analysing market information
2. Market planning
3. Product Designing and development
4. Standardisation and Grading
5. Packaging and Labelling
6. Branding
7. Customer Support Services
8. Pricing of Products
9. Promotion and Selling
10. Physical Distribution
11. Transportation
12. Storage and Warehousing

IV. Long Answer Questions

1.How the market can be classified?
Answer:
On the basis of different approaches markets can be classified as follows:
I. On the basis of Geographical Area:
(a) Family Market
(b) Local Market
(c) National Market
(d) International Market or World Market

II. On the Basis of Commodities / Goods:
(a) Commodity Market

1. Produce Exchange Market
2. Manufactured Goods Market
3. Bullion Market

(b) Capital Market:

1. Money Market
2. Foreign Exchange Market
3. The Stock Market

III. On the Basis of Economics:
(a) Perfect Market
(b) Imperfect Market

IV. On the basis of transaction:
(a) Spot Market
(b) Future market

V. On the Basis of Regulation:
(a) Regulated Market
(b) Unregulated Market

VI. On the Basis of Time:
(a) Very Short Period Market
(b) Short Period Market
(c) Long Period Market

VII. On the Basis of Volume of Business:
(a) Wholesale Market
(b) Retail Market

VIII. On the Basis of Importance:
(a) Primary Market
(b) Secondary Market
(c) Terminal Market

2.How the market can be classified on the basis of Economics?
Answer:
The Market can be classified on the basis of Economics as follows:
(a) Perfect Market: A market is said to be a perfect market if it satisfies the following conditions:

1. Large number of buyers and sellers are there.
2. Prices should be uniform throughout the market.
3. Buyers and sellers have a perfect knowledge of market.
4. Goods can be moved from one place to another without restrictions.

(b) Imperfect Market: A market is said to be imperfect when

1. Products are similar but not identical.
2. Prices are not uniform.
3. There is lack of communication.

3.What is your contribution to promote the market in modern society?
Answer:
A market is a place where buyers and sellers gather for purchase and sale. The market may be of Local market, national market and international or global market.To develop and promote the market the following are needed:

1. Eligible and satisfied and customer is needed.
2. Quality and durable goods are to be marketed.
3. Recent trends like E-marketing, online marketing are to be encouraged.
4. After-sales service is to be provided to durable goods.
5. Customers are to be financed for buying costly articles.
6. New Innovations and marketing research are to be introduced to develop the market.

TN 12th Commerce Guide Book Back Answers
TN 12th Commerce Book Back Answers

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Unit 1 Management Process

• Chapter 1 Principles of Management
• Chapter 2 Functions of Management
• Chapter 3 Management By Objectives (MBO) and Management By Exception (MBE)

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Unit 2 Financial Markets – I

• Chapter 4 Introduction to Financial Markets
• Chapter 5 Capital Market
• Chapter 6 Money Market

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Unit 3 Financial Markets – II

• Chapter 7 Stock Exchange
• Chapter 8 Securities Exchange Board of India (SEBI)

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Unit 4 Human Resource Management

• Chapter 9 Fundamentals of Human Resource Management
• Chapter 10 Recruitment Methods
• Chapter 11. Employee Selection Process
• Chapter 12 Employee Training Method

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Unit 5 Elements of Marketing

• Chapter 13 Concept of Market and Marketer
• Chapter 14 Marketing and Marketing Mix
• Chapter 15 Recent Trends in Marketing

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Unit 6 Consumer Protection

• Chapter 16 Consumerism
• Chapter 17 Consumer Protection
• Chapter 18 Grievance Redressal Mechanism

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Unit 7 Business Environment

• Chapter 19 Environmental Factors
• Chapter 20 Liberalization, Privatization, and Globalization

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Unit 8 The Sale of Goods Act, 1930 and The Negotiable Instruments Act, 1881

• Chapter 21 The Sale of Goods Act, 1930
• Chapter 22 The Negotiable Instruments Act, 1881

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Unit 9 Entrepreneurship Development

• Chapter 23 Elements of Entrepreneurship
• Chapter 24 Types of Entrepreneurs
• Chapter 25 Government Schemes for Entrepreneurial Development

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Unit 10 Company Law and Secretarial Practice

• Chapter 26 Companies Act, 2013
• Chapter 27 Company Management
• Chapter 28 Company Secretary