Unit Title: Introduction to

Marketing
Unit No.: 1

Part A - 1 mark questions

Q. No. Description Feedback Correct Choice Marks Section No.

1 Identify the statement that signifies a feature c. Actual place or a

describing a market – meeting point
1.2
a. Any place where sellers exist Not the right choice: its not a 0
feature because buyers also
must be present
b. Any place where buyers exist Not the right choice: because 0
without sellers there will not be
any offers

c. Actual place or a meeting point Right choice: This is a market 1

feature because it signifies a
contact place

d. There must be face to face interactions Not the right choice: because 0
interactions can take place
without meeting personally that
is through various
communication mediums

2 The type of market where single seller dominates b. Imperfect

the entire market is referred to as – 1.2
a. Perfect Not the right choice - It exists 0
when buyers and sellers are
equal in nos.
b. Imperfect Right choice: Here sellers 1
dominate the market and in case
only one seller dominates its
also called as monopoly which is
a category of imperfect market

c. Local Not the right choice – Local 0

market is when market is limited
or confined to a specific area
and sellers and buyers usually
belong to this area

d. Global Not the right choice: Is when the 0

whole world is taken as a single
market place where there maybe
numerous buyers and many
sellers

3 When each party has something that could be of a. Exchange

value to other party, it results into – process
1.2
a. Exchange process Right choice: exchange takes 1
place when both parties are in
mutual consent about their gains

b. Marketing activity Not the right choice: Need not 0

always involve another party’s
value
c. Market place Not the right choice: Market 0
place is a meeting point for
buyers and sellers

d. Money exchange Not the right choice: Money is 0

not always the means or
purpose for exchange

4 Which of the following is the major task of Marketing a. Analysing market

management? opportunities
1.4
a. Analysing market opportunities Right choice: Marketing 1
management involves tapping
the existing market opportunities
as well as identifying scope for
more.
 b. Implementing organisational plans Not the right choice: 0
Organisational plans include
more areas than only in
marketing management

c. Estimating the company budget Not the right choice: The budget 0
and expenses are estimated by
all departments and not only for
marketing

d. Managing different management processes Not the right choice: Marketing 0

management is a part of
management process

5 What relationship exists between Marketing and b. Selling is

Selling? included in Marketing
1.5
a. Marketing is included in selling Not the right choice: Selling has 0
narrow scope when compared to
marketing tasks

b. Selling is included in Marketing Right choice: Marketing function 1

is broad and encompasses the
selling activities

c. Both are same Not the right choice: Marketing 0

and selling have their own
features and relevance. So, they
are not same

d. There is no relation Not the right choice: The aim of 0

marketing is to sell such quality
product which consumers want
and which is demanded in the
market. Selling cannot be
separated from marketing.

6 Which among the following is an example for a non- c. Charitbale society

profit organsiation?
1.2
a. Hotel Not the right choice: Hotels are 0
profit making service
organisations
b. Hospital 0
Not the right choice: Hospitals
also are considered as profit-
oriented since they charge fees
for services
c. Charitbale society 1
Right choice: Charitable
societies work for welfare and
are purely service oriented
d. University Not the right choice: University 0
charge fees for courses/exams
and are profit-oriented

Part B - 2 mark questions

7 Identify the Marketing Functions – d. D, A, B

1.5
A. Advertising products
B. Physical distribution of goods
C. Manufacturing products to be sold

D. Selling goods and services

a. A, B, C Not the right choice: 0
Manufacturing products is a
production function and rest are
marketing functions

b. B, C, D Not the right choice: 0

Manufacturing products is a
production function and rest are
marketing functions
c. C, D, A Not the right choice: 0
Manufacturing products is a
production function and rest are
marketing functions

d. D, A, B Right choice: Advertising, 2

distribution and selling goods are
the essential functions of
marketing
8 Which among these is the correct relationship d. Marketers
between Consumers needs and wants? influence consumers
wants not needs
1.4
a. Consumers needs are more than wants Not the right choice: Needs are 0
specific but to satisfy needs,
there will be several alternatives
available out of which one
alternative can be taken as a
want

b. Consumers needs and wants are same Not the right choice: Needs and 0
wants cannot be treated as
same because needs lead to
wants

c. Marketers influence needs and then wants Not the right choice: Needs 0
already exist so, they cannot be
influenced

d. Marketers influence consumers wants not Right choice: Marketers have to 2

needs provide different Choices to
consumers through which they
can satisfy their needs

9 Identify the correct statements – d. D, A, B

1.7
A. In Product concept, focus is on innovating and
improving products
B. In Selling concept, consumers are persuaded to
buy products
C. In Production concept, quality of product is
considered as essential
D. In Societal concept, overall well being of society
is considered to be important
a. A, B, C Not the right choice: Production 0
concept focuses only on the
product and most of the time its
quality is compromised. Other
two statements are appropriate

b. B, C, D Not the right choice: Production 0

concept focuses only on the
product and most of the time its
quality is compromised. Other
two statements are appropriate

c. C, D, A Not the right choice: Production 0

concept focuses only on the
product and most of the time its
quality is compromised. Other
two statements are appropriate

d. D, A, B Right choice: All statements are 2

appropriate and are conceptually
right

10 Increased customer value indicates increase in one a. Quality

of the following –
1.4
a. Quality Right choice: Value increases 2
with quality offered by the
company

b. Cost Not the right choice: Increased 0

value must decrease cost

c. Price Not the right choice: Increased 0

value need not indicate price
increase
d. Dissatisfaction Not the right choice: Increased 0
value must increase satisfaction

Part C - 4 mark questions

11 Identify the inappropriate statement: Pricing is a part b. It helps in

of marketing function because – eliminating losses due
to product failure
1.6
a. It takes in to consideration competition and Not the right choice: This is a 0
competitive prices function of pricing

b. It helps in eliminating losses due to product Right Choice: Pricing can only 4
failure minimise expected losses

c. It brings in revenue Not the right choice: Its the only 0

function bringing
revenue/earning
 d. It helps in determining the buying capacity of Not the right choice: It fixes the 0
consumers reasonable rates at which
consumers can accept the offer
and buy

12 Match the following aspects related with the a. 1A, 2B, 3C, 4D
production concept –
1.7
First set:
1. Consumer preference
2. Nature
3. Applicability

4. Company desirability

Second set:
A. Easily and cheaply available Products
B. On-going activity even if there is no demand
C. When demand is more than supply

D. Achieve economies of scale

a. 1A, 2B, 3C, 4D Right Choice: production 4
concept holds good in matching
these aspects

b. 1B, 2C, 3D, 4A Wrongly matched (Refer Unit 1.7, Production concept) 0

c. 1C, 2D, 3A, 4B Wrongly matched (Refer Unit 1.7, Production concept) 0

d. 1D, 2A, 3B, 4C Wrongly matched (Refer Unit 1.7, Production concept) 0

13 Identify the correct sequence that leads to potential d. Limited

demand – resourcesàDesire &
ability to
buyàreadiness to
spendàDemand
1.4
a. Unlimited wants àLimited resourcesàdesire and Not the right choice - Only 0
ability to buyàDemand having the desire and ability to
buy will not lead to demand
unless buyer is ready to spend

b. NeedsàDesire and ability to buyàWants Not the right choice - Desire is 0

àDemand created by wants and wants are
the outcomes of needs

c. NeedsàWantsàDesire and ability to Not the right choice - Only 0

buyàDemand having the desire and ability to
buy will not lead to demand
unless buyer is ready to spend

d. Limited resourcesàDesire & ability to Right Choice: this forms the 4

buyàreadiness to spendàDemand correct logic that leads to
demand