Marketing Class 12 Notes CBSE Business Studies Chapter 11 (Free PDF Download)

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Marketing Class 12 Notes CBSE Business Studies Chapter 11 (Free PDF Download)

Class12th 
Chapter No11
ProvidingNcert solutions
Chapter NameMarketing Management 
BoardCBSE
Book NCERT
SubjectBusiness studies
Medium English
Study MaterialsFree VVI Study Materials are Available
Download PDFMarketing Class 12 Notes CBSE Business Studies Chapter 11 (Free PDF Download)

Marketing Management 

Key points of the lesson – Under marketing management, first of all the needs of the customers are ascertained and the production activities are adjusted accordingly. After that, a marketing program is prepared under which decisions regarding product, price, distribution, advertising etc. are taken. 

Customer satisfaction is given top priority. Marketing activities also include the activities performed before production and the services performed after sale. 

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Marketing management concept is a managerial process under which goods are produced and stored according to the needs of consumers and other customers and proper profit is earned by providing them proper satisfaction.

In the eyes of a common man, there is no difference between marketing and selling, rather both are basically synonyms. The objective of both is to increase sales and earn profit. But the reality is that there is a lot of difference between the two. The scope of marketing is broader than that of selling. Marketing also includes sales. The function of marketing is to direct all those activities through which marketing goals and

Objectives can be achieved. Marketing functions start with the customer and end when the product or goods reach the customer and he is satisfied. The term ‘marketing mix’ was originally used by Harvard Business School professor Neil Worden. 

All such marketing decisions, which motivate or encourage sales, are called ‘marketing mix’. Marketing mix is ​​important for every area of ​​business, be it pricing area, promotion area, distribution area or production area. 

Product mix (is the main element/part/variable of marketing mix. Under this, decisions are taken regarding the color, form, size, design, line, group etc. of the product. This is called production mix. Brand is an identity. A mark which can be easily recognized by the consumer and which

Differentiates a producer or manufacturer’s product from other competing products. Labeling refers to a letter or paper or seal through which important information about the product is given. Level is a part of packing and either this information is printed on the packing box or bag itself or a separate symbol or paper is attached to it. 

Packaging is the art and science related to production planning, which is related to making the base sheet and wrapping material and placing or wrapping the product in the said base sheet for its safe distribution and use. Generally a marketer has two options regarding customs. first of all he

One can use ‘High’ Price Strategy or ‘Skimming the Cream’ and the other can use ‘Low’ Price Strategy. So that market entry becomes easier. Price refers to the amount charged from a customer for a product or service.

It is not enough to merely produce goods, but it is also necessary to transport them from the place of production to the consumers. The process of taking goods (products) from the place of production or manufacturing to delivering them to consumers is called physical distribution mix.

Distribution channel is the way of taking goods from producers to consumers in which all those people and institutions are included who work for them without any change. 

Manufacturers or producers have to choose a suitable medium of distribution to deliver their goods to the final consumers. The appropriate restraint is one which is economical and most beneficial.

“Promotion” refers to all those activities which are carried out to provide information to customers about a product or service and encourage them to purchase it. The basic objective of all these is to increase the sales of the product or service. 

Sales promotion refers to all those activities which include advertising, personal selling and all those efforts which increase sales. Advertising means giving information about your product or service to potential customers and motivating them to purchase.

Personal selling is a method of selling in which both the buyer and the seller are face to face. Goods are presented to the buyer by the seller and efforts are made to sell and sell the goods to satisfy the buyer. Its purpose is to generate information about the product, generate interest, develop brand preference, negotiate prices etc.

Public relations concept is the establishment of communication relations between a business organization and the general public. Under this, efforts are made to establish and maintain the reputation and mutual understanding of the business organization among the general public. 

The business organization is made aware of what perception the general public has about a particular business organization and its products. If there are doubts, misconceptions or rumors about it among the general public, then arguments are presented regarding its eradication and the truth is exposed effectively.

VERY SHORT ANSWER TYPE QUESTIONS

Q. 1. What is the meaning of marketing? (What is the meaning of marketing)

Ans. Meaning of Marketing – According to the old marketing concept, buying and selling of goods is called marketing but according to the modern marketing concept, marketing is a broad term which includes the activities done before the production of goods and services. Including their sales, distribution and necessary after sales services.

Q. 2. Describe the objective of marketing. (Discuss the objectives of marketing.)

Ans. Objectives of Marketing—

(i) Demand generation, (ii) Consumer satisfaction, (iii) Market share, (iv) Goodwill and image, (v) Profit generation and (vi) Social service.

Q.3. Write the function of marketing. (Write the functions of marketing)

Ans. Functions of Marketing – Following are the functions of marketing-

I. Exchange Functions (i) Buying, (ii) Aggregating and selling. (iii) II. Production Planning (i) Determining the type, quantity and weight of the salable product, (ii) Determining the brand and trademark, (iii) Determining the label, (iv) Determining the packaging, (v) Determining the sales conditions. assessment and (vi) after sales services.

11. Pricing (i) Pricing factors, (ii) Amount of profit, (1) Volume of goods, (2) Government control and (v) Level of competition [Vi] Physical distribution is different from physical distribution. Delivering the product at the right place and in the right quantity at the right time.

Q4. Explain the importance of marketing management. (Discuss the importance of marketing management.)

Ans. Importance of Marketing/Marketing Management-

1. Importance for Society: (i) Providing employment, (ii) Providing higher standard of living, (iii) Reduction in distribution costs, (iv) Resilience (v) Increasing knowledge of customers. Growth, (vi) Shopping facility, (vii) Increase in standard of living, (viii) Customer satisfaction.

II. Importance to the Firm/Manufacturer: (i) Helpful in business planning and decision making, (ii) Helpful in income generation, (iii) Helpful in communication between the society and the firm.

Q5. Explain the creation of utility through marketing management. (Explain the creation of utility by marketing management.)

 Ans. Creation of Utility by Marketing Management—(1) Time utility, (ii) Place utility and (iii) Rights/ownership utility.

Q.6. What is the meaning of marketing mix? (What is meaning of marketing mix?)

Ans. Meaning of Marketing Mix: All such marketing decisions, which inspire or encourage Vikram, are called marketing mix.

Q.7. Describe the elements of marketing mix. (Discuss the elements of marketing mix.).

Ans. Elements/Components/Variables of Marketing Mix—(1) Product, (ii) Price, (iii) Place and (iv) Promotion. These are also known as the four ‘P’s’.

Q. 8. What is the meaning of product? (What is meaning of product?)

Ans. Meaning of Product: Product means any physical object or service which satisfies the needs of the buyer.

Q. _ 9. Write the dimensions of the product. (Write the product dimension.) 

Ans. Product Dimensions (i) Product line, (ii) Product size, (iii) Product quantity, (iv) Product extension, (v) Product weight, (vi) Product type and size, (vii) Product brand. , (viii) Product depth, (ix) Product labeling/trademarks, (x) Product packaging, (xi) Product development, (xii) Product testing and (xiii) After sales services.

SHORT ANSWER TYPE QUESTIONS

Q. 1. Differentiate between marketing and sales. (Distinguish between Marketing and Selling.)

Ans. Difference between Marketing and Selling – There is a lot of difference between these two words which is as follows: Marketing

Marketing _ _ _Selling
1. The main objective of marketing is to satisfy human needs. Not selling just for profit.1. The main objective of sales is to sell more and more goods and services just to get profit.
2. The scope of marketing is relatively wide because it includes all the activities from before the production of the product till after its sale.2. The sales area is narrowed. Because under C only activities related to sales and sellers are included.
3. The ideology of marketing is modern.3. The sales philosophy is traditional.
4. In marketing, more attention is given to customer satisfaction.4. In sales, more attention is focused on selling the goods.
5. Marketing aims to give birth to consumers.5. Selling means selling goods to those consumers.

Q.2. Explain the nature of marketing and its various perspectives. (Explain the Nature and Various Approaches of Marketing.) 

Ans. Nature of Marketing and Various Approaches: The nature of marketing can be explained from the following various viewpoints-

1. Distribution of Goods and Services Approach

2. Standard of living Approach

3. Utility creation approach

4. Revenue Generating Approach

5. Institutional Approach

6. Functional Approach 7. Art and Science Approach

8. The System Approach

9. Social Marketing Approach

Q.3 . Explain the difference between packaging and packing. (Discuss difference between Packing and Placking.) 

Ans. Meaning of Packing – Packing means tying things.

So that the goods are protected from the risks of damage, decay and breakage etc. Damage to the goods mostly occurs either during transportation from one place to another or at the time when they are stored. Packing reduces the possibility of loss in both these situations.

Meaning of Packaging: Packaging is the sealing of goods in packets of different quantities by the manufacturers at the time of production. Its meaning is to fill the goods in boxes, bottles, tins, sacks, casks etc. of different sizes so that they can be purchased conveniently. 

Different in packaging: Packing can be done in both bulk and retail packages. In wholesale trade, the size and form of packing depends on both the factors of prevalence and convenience of handling. A sack of wheat, for example, is made to weigh one quintal, because a worker can only lift so much weight at a time. In retail the packing size depends on what weight is best for consumption. 

Q. 4. Differentiate between marketing and marketing idea. (Differentiate Between Marketing and Marketing Concept .) 

Ans. Difference between Marketing Concept and Marketing – Marketing and Marketing Concept are not words with the same meaning. There is a lot of difference between these two. William J. According to William J. Stanton, “Administrators should understand the important difference between marketing and marketing thinking. 

Marketing ideas are a philosophy, a framework, a system or a way of business thinking. Whereas marketing is a process or way of working in business. It is natural that the way of thinking determines the way of working.” According to John E. Wakefield, “Marketing ideas are a business philosophy.” Thus, marketing idea is that business philosophy which emphasizes on satisfaction of customer needs. 

Q.5. What are the objectives of marketing management? (What are the objectives of marketing management?)

Ans. 1. To earn fair profits by maximizing customer satisfaction. 2. To maximize its share in the total market demand. 3. Developing new products. 4. Entering new markets. 5. To develop the institution.

Q.6. What is included in the product? (What are included in product?)

Ans. William J. According to William J. Stanton, “Product is that combination of tangible and intangible qualities which include packaging, color, price, reputation of the product, reputation of retail businesses and services of the manufacturer and the retailer. Which the consumer can enjoy as a fulfillment of his desires or needs.”

Q.7 . What do you understand by marketing mix? What are the elements of marketing mix? (What do you understand by marketing mix? Explain the elements | of marketing mix.)

Ans. To achieve success in sales, the seller uses a mix of different strategies. This is called marketing mix.

Definition – Following are the main definitions of marketing mix-

1. Dr. R. S. According to Dr. RS Davar, “The strategies used by manufacturers to achieve success in the market constitute the marketing mix.”

2. According to Keeley & Lazar, “The marketing mix is ​​made up of a large battery of strategies that can be used for the purpose of inducing buyers to purchase a particular product.”

3. According to Philip Kotler, “The objective of a firm is to find the best setting for its marketing variables. This configuration is called marketing mix.

Q.8. Explain the elements of marketing mix. (Give elements of Marketing-Mix.)

Ans. Elements of the Marketing Mix – McCarthy has given four elements of marketing mix – 1. Product, 2. Place, 3. Promotion and 4. Price. Lipson and Darling have also mentioned four elements – 1. Product, 2. Sale, 3. Conditions, 3. Distribution, 4. Communication.

Q. _ 9. Explain the management process in marketing field. (Clarify the Management Process in Management.)

Ans. Management Process in Marketing—

Marketing management process is generally made up of the following elements or steps – 1. Determination of marketing objectives, 2. Formulation of marketing plans, 3. Organization and coordination of marketing activities, 4. Staffing and gathering of resources, 5. Operation of marketing activities. and direction and 6. Analysis and evaluation of marketing efforts 

LONG ANSWER TYPE QUESTIONS

Q. 1. What is the meaning of marketing? Discuss its importance. (What is meant by Marketing? Explain its importance.)

Ans. Meaning of Marketing: The word marketing is used in two ways –

Old Concept – In the old sense, marketing includes all those activities which are done to pick up the goods from the production centers and deliver them to the consumers. This includes activities like purchasing, advertising, collection, transportation, grading etc. But this meaning was taken earlier and it included production development, production planning, marketing,

Activities like research etc. were not included. Modern Concept: Marketing work starts even before the production of goods starts and continues even after the sale. Before starting production, the market is analyzed to see what goods are required by consumers, how much goods are required and where and when they are required. after knowing this

Production planning is done to provide goods to the consumers as per their interest and demand. After production is completed and sales begin, it is also seen whether the customer is satisfied with the item or not. If not then why? This work continues continuously and efforts are made to improve the product and make it as per the needs of the consumer. This activity has become the main activity of marketing. Apart from these, all the activities of taking the goods from production to the consumer are included in it. 

Definitions of Marketing: For convenience of study, the definitions have been divided into two parts-

1. Old or narrow-minded definitions.

II. New, comprehensive, customer oriented definitions.

I. Old, Narrow or Product oriented Definitions – Following are the definitions related to this ideology –

1. Prof. According to Pyle, “Marketing includes both buying and selling activities.” 2. According to Tousley, Clark and Clark, “Marketing includes all those efforts which bring about transfer of ownership of goods and services. and arrange for their physical distribution.”

3. According to Edward & David, “Marketing is an economic method.

“By which goods and services are exchanged and their prices are fixed in currency.” II. New, Broad, Modern or Customer-oriented Definitions – New and modern definitions are as follows-

1. Peter F. In the words of Peter F. Druker, ‘Marketing is a process that converts resources and specialized knowledge into a contribution of economic value to the market.

2. Paul Mazur has given a brief and understandable definition of marketing. But. This definition does not clarify the functions and nature of marketing – “Marketing provides standard of living to the society.”

3. According to Malcom McNair, “Marketing means creating a standard of living for the society and providing it to the society.”

4. William J. According to William J. Stanton, “Marketing refers to the entire system of interactive business activities whose purpose is planning, pricing, developing and offering products and services to satisfy the needs of current and potential customers.” Is related to making and distributing them

Appropriate Definition Marketing is a broad term. Under this, activities and services before production and after distribution are included. In this, goods and services are produced as per the needs of customers/consumers. As a result, the standard of living of the common people increases and profits are obtained by satisfying the customers.

Importance of Marketing: The importance of marketing is as follows – 1. Importance of Marketing to the firm – Today business itself has become a marketing organization. Peter F. According to Peter F. Drucker, “Marketing is a special and unique function of business. What distinguishes business from other human organizations is the fact that it markets goods and services whereas the church, the army, the school, the state, none of the others can do so. 

Business is an organization that makes itself complete by marketing goods and services. If marketing is absent in a business. Or if it is incidental then it will not be called a business nor should it be operated as a business.” 

2. Importance of Marketing to society – (i) Providing employment and increasing employment opportunities by removing the unemployed from the society.

Gives cooperation. In India, 1/3 of the total employment opportunities are engaged in marketing activities. 

(ii) Reduction in distribution costs: Marketing costs can definitely be reduced through efficient marketing, as a result, goods will be available to consumers at lower prices. 

(iii) Marketing helps in raising the standard of living of the society by producing according to social values ​​and needs.

(iv) Increase in purchasing power – Marketers increase the purchasing power by providing goods to the customers at the lowest price.

(v) Security in recession – To save the economy from recession, marketing searches for new markets so that the producers do not accumulate stock of goods, as a result there is no fear of recession.

Importance of Marketing in the Economic Development: Marketing plays an important role in the economic development of the country. Marketing is playing a special responsibility in the development of the economies of underdeveloped nations. 

As industrialization is taking place in the country, the responsibility of marketing is also increasing. The human needs of a country like India with a population of crores are unlimited. For them marketing is contributing to the economic process by producing on a large scale.

Q. 2. Explain the various functions of marketing. (Explain the various functions of Marketing.)

Ans. Marketing functions can be divided into two parts-

Managerial tasks- which every marketing manager has to do. These include planning, organization, stocking, direction and control of various marketing activities. A manager has to perform these tasks in every activity, be it production, finance, purchasing or selling. 

Work is functional work, which is necessary for a marketing manager to deliver goods from producers to consumers. A marketing manager has to perform various types of activities like operations, collection, transportation, sales, marketing, grading and standardization etc. Brief description of both is as follows-

I. Management related functions (Marketing Managerial Functions) – These are the managerial functions which every manager has to do. A marketing manager has to perform the following managerial functions-

1. Planning of Marketing Functions: Under the planning of marketing function, determination of the form, design, prices of the goods to be produced according to the interest of the customers, determination of the markets in which the goods are sold and the marketing route. etc. is determined.

2. Organizing of Marketing Functions – Every work is done through humans so that for efficiency, it is necessary to have organization among all the people engaged in a work so that wastage and repetition are minimized.

3. Staffing of Marketing Functions: Another important function of the marketing manager is the appointment, training and determination of salary etc. of sales managers, salespeople etc. for which the same procedure of the human department manager is followed.

4. Directing of Marketing Functions – Every manager has to give instructions to his subordinate employees from time to time and encourage them towards work. The marketing manager also has to tell his subordinate managers as per the time and situation, what to do and how to do it. Instructions are given to solve marketing problems that arise from time to time and they are taken care of regularly.

5. Controlling of Marketing Functions: Changes in market conditions, changes in consumer demand and interest, changes in the economic system of the country etc. create obstacles in the marketing plan. This hindrance can be prevented by efficient control of marketing activities. 

Q.3. Differentiate between marketing and sales. (Distinguish between marketing and selling.)

Ans. Difference between Merchandiz- ing. Marketing and Selling: Commerce, marketing and selling are often considered to mean the same thing. Whereas in reality there is a difference between these three words. Marketing is a broad term which has two branches: Selling and Commercial.

1. Meaning of Commerce – It is that part of marketing which includes Product Planning, Standardization and Grading and Sales.

2. Meaning of selling – Selling is one of the major functions of marketing. Selling means finding prospective buyers of a product, making them aware of the product and preparing them to buy it. These sub-functions are included in sales – sales planning, market research, terms of sale, product brand, packing, advertising and stocking etc. ‘Sales’ is part of commerce.

3. Meaning of marketing – Marketing work does not end before the production of the product and marketing work does not end only when the product reaches the consumer, but the marketing work continues till the time the consumer is satisfied with the product. Satisfaction is not achieved. The following differences are found between selling and marketing.

1. The field of marketing is wide, selling is a part of it.

2. Marketing provides satisfaction to the consumers through goods as well as price satisfaction to the consumers. Whereas sale is related only to physical transfer of goods.

3. Marketing problems are solved by special organizations whereas sales problems are solved by wholesalers and retailers.

4. Marketing is related to the needs of consumers while selling is related to the quantity of sales.

5. Selling provides goods while marketing provides satisfaction.

Q. 4. Explain the meaning of marketing management. Describe the objectives of marketing management. (Explain the meaning of marketing management. Describe its objectives.)

Ans. Meaning of Marketing Management – In today’s era, under marketing, the needs of the customers are ascertained and then the production related activities are also adjusted according to those needs. After this marketing work is done. 

For this, marketing programs are made in which decisions are taken regarding product, price, advertising, sales promotion, distribution etc. Taking these decisions and working accordingly is called marketing management. In marketing management, more emphasis has been given on the needs and satisfaction of the consumer and in this the activities from production to their consumption are coordinated.

Definitions

1. In the opinion of Cundiff & Still, “Marketing management is related to conducting purposeful activities to achieve marketing goals.” According to them, work is done in marketing management to conduct those activities which are done to achieve the goals. These activities take place for specific purposes. These objectives are sales volume, net profit and growth in sales volumes and in profit. 

2. Prof. Lazo & Corbin have defined marketing management in this way, keeping in mind the ideology of the consumer. In his view, “Directing all the marketing activities towards the buyer and then making all the managerial decisions keeping in mind the needs of the customers and with the aim of satisfying those needs, making maximum sales at minimum expenditure and getting profit is called marketing management. “

Objectives of marketing management: Following are the objectives of marketing management: 

1. To maximize our market share in total sales – The objective of marketing management is to create more demand for our organization from the growing market. To maximize your share in your total sales, you should take the following measures:

A. To promote one’s goods through advertising.

B. Adopting other measures to increase sales.

C. Personal selling.

2. To develop new products and sell them – The demand for goods keeps changing with the change of time. People’s interests keep changing. Fashions keep changing. Therefore, keeping in mind the changes in market demand, produce new products, improve the existing products and then introduce the new products to the public.

3. To earn fair profit by maximizing customer satisfaction (To cam fair: profit by maximizing customer satisfaction) The objective of marketing management is to produce those goods which give maximum satisfaction to the customer and get fair profit on sale. A satisfied customer not only becomes a permanent customer of the organization but also brings other known people as customers.

4. To enter new markets and to create new customers – The objective of marketing management is to find new markets and to find new customers in the country and abroad through marketing exploitation and market survey. 

5. To develop new use of existing = products and to provide maximum services to the consumers – to provide maximum services to the existing customers. -More services should be provided and new uses of existing products should be discovered. Therefore, through marketing analysis, the marketing management should get information about the purposes for which the customer is using or can consume its product. 

6. To improve the reputation and create goodwill of the business organization (To improve the firm’s image and create goodwill) The objective of marketing management is to enhance the reputation and create goodwill of the organization. There are many benefits of increasing the prestige and reputation of an organization. Employees’ heads rise high with self-respect. The customer also feels proud by purchasing the product of that organization. Apart from this, whenever an organization produces a new product, customers purchase that product with satisfaction, enthusiasm and happiness.

Q.5 . Briefly describe the processes of marketing management. (Describe the process involved in marketing management.)

Ans. Processes involved in marketing management-

1. Analyzing market structure and behavior to find business opportunities – The first process is to find opportunities for business. To achieve this objective, we have to analyze the market structure, market behavior and the environment of the business organization. We have to know who are the customers of our product. Who are the competing traders? 

2. Researching and selecting target markets: Researching and selecting target markets. We have to research our future customers and get information about how much demand there will be for our product and in which consumer segments the product will be sold.

3. Developing marketing strategies – The manager formulates the following strategies keeping in mind the various objectives of the organization, marketing environment, competition, situation etc. – (a) Product strategy (b) Distribution strategy ( c) Promotion strategy (d) Pricing strategy.

4. Planning marketing tactics and budgets-

1. Making business and comprehensive planning. 2. To allocate human and financial resources to implement the plan.

Very Impotant Questions

Q. 1. What is product mix? (What is product mix?)

Ans. Product Mix Product mix refers to product dimensions. 

Q.2 . What is the meaning of brand? (What is the meaning of Brand?)

Ans. Meaning of Brand: The trade marks used by producers or manufacturers to identify their products are called brands.

NCERT Solutions for Class 12 Commerce Stream


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