What traumatic event does Zitkala-Sa describe at the school?

The forcible cutting of her long hair

Why was the cutting of her hair so humiliating to Zitkala-Sa?

Among her people, shingled hair was worn by cowards and mourners

Differentiate marketing and selling.

Selling transfers title to earn profit from sales; marketing is wider, beginning before production with customer needs.

What is a market offering?

A complete offer for a product or service with given features, price and availability at an outlet.

State two functions of marketing.

Gathering market information and product designing (also pricing, promotion and physical distribution).

What are the functions of packaging?

Product identification, protection, convenience in handling and promotion of the product.

Name any two factors affecting the price of a product.

Cost of the product and the extent of competition (also demand and government regulation).

What is a channel of distribution?

The set of people and firms involved in moving a product from the producer to the final consumer.

Differentiate advertising and personal selling.

Advertising is impersonal paid mass communication; personal selling is face-to-face oral communication with a buyer.

Marketing

Q: Define marketing.

Marketing is a social process by which people obtain what they need and want by creating and exchanging offerings of value.

Q: Name the four elements of the marketing mix.

Product, Price, Place and Promotion — the four Ps.

Q: Name the four tools of the promotion mix.

Advertising, personal selling, sales promotion and publicity.

Class 12 Business Studies · Business Studies Part II · Chapter 2

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Summary

Marketing is a social process by which individuals and groups obtain what they need and want by creating offerings and freely exchanging products and services of value with others. Its features are needs and wants, creating a market offering, customer value and the exchange mechanism. Marketing must be distinguished from selling: selling is only a part of marketing focused on transferring title and earning profit from sales volume, while marketing is a wider concept that begins before production by identifying customer needs and continues after sale through customer relations. Marketing management is the management of the marketing function — choosing target markets and getting, keeping and growing customers by creating, delivering and communicating superior value. Marketing philosophies have evolved through the production, product, selling, marketing and societal marketing concepts. The functions of marketing include gathering market information, marketing planning, product designing, standardisation and grading, packaging and labelling, branding, customer support, pricing, promotion, physical distribution, transportation and storage. The marketing mix is the set of controllable variables a firm uses to influence buyers, made up of four elements — Product, Price, Place and Promotion (the four Ps). Product decisions cover features, quality, branding, packaging and labelling. Pricing is affected by cost, demand, competition, marketing objectives and government regulation. Place or physical distribution covers channels of distribution (direct and indirect) and physical movement. Promotion uses a promotion mix of advertising, personal selling, sales promotion and publicity. Branding, packaging and labelling help identify products, protect them and promote them.

Meaning and features of marketingMarketing versus sellingMarketing management philosophiesFunctions of marketingThe marketing mix and four PsPromotion mix and channels of distribution

Key terms

Marketing

A social process by which people obtain what they need and want by creating and exchanging value.

Selling

A narrower part of marketing concerned with transferring title and earning profit from sales.

Marketing mix

The set of controllable variables — product, price, place and promotion — used to influence buyers.

Product mix

Decisions about features, quality, branding, packaging and labelling of a product.

Promotion mix

The blend of advertising, personal selling, sales promotion and publicity.

Channels of distribution

The set of intermediaries through which a product moves from producer to consumer.

Extra questions & answers

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Marketing is best described as a:

Flashcards & interactive practice

Marketing

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Summary

Key terms

Extra questions & answers

Practice quiz · Marketing

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