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Business Studies January 1, 2012

Chapter 2
Marketing
Meaning of Market A market is a place where buyers and sellers come together for the purpose of purchase and sale. It is the atmosphere or a region in which buyers and sellers are brought in contact with one another and by means of which the prices of goods and services tend to be equalized easily and quickly. Definition of Market 1. Market is an area or atmosphere for a potential exchange Philip Kotler 2. Market is an area in which forces leading to exchange title to a particular product operate, and towards which and from which the actual goods tend to travel Clark and Clark

Marketing

Marketing is what connects producers and consumers. It brings about a mechanism where there is an exchange of goods and services for money or money equivalent. It creates consumer satisfaction and brings revenue to the manufacturers / producers. Marketing involves all activities in creation of place, time, possession, and awareness utilities.
Difference between Selling and Marketing

Selling Focuses on the needs of the seller

Marketing Focuses on the needs of the buyer

Preoccupied with sellers need to sell the Preoccupied with idea of need to satisfy the product and obtain cash needs of the customer The main aim of selling is to earn profit by Aims at earning profit through customer maximizing sales satisfaction. Management is sales volume oriented Management is focused on customers for long term profit. retaining

Views business as a goods producing Views business as consumer satisfying process process. Selling is the final phase of marketing Marketing starts with understanding what process products are to be made before actually selling.

Business Studies January 1, 2012 Functions of Marketing

1. Buying: Involves planning purchases, selection of goods to be sold or to be used in business, assembling of goods in right quantity, at the right place and at the right time and at the right price. It includes negotiation of the terms concerning price, payment, delivery and secure normal transfer of title in his favour through a contract of purchase. 2. Selling: buying and selling are complimentary to each other. The objective of any business is to sell goods and services at a profit. Selling functions involve: a) Product planning and development b) Searching for prospective buyers c) Creation of demand through all means of promotion d) Negotiations on quality, quantity and price with prospective buyers. e) Contract of sale relating to the transfer of title and possession of goods. 3. Transportation: Transportation helps convey commodities from places where their utility is relatively low to places where utility is higher. The principal economic basis of transportation is enhancing the value of goods by the creation of place utility. Even in case of the simplest marketing mechanism, where the consumer buys directly from a local firm or factory, transportation is involved and must be performed either by buyers or seller. 4. Storage: Preserving of goods for future use is a pervasive human desire. Even in the dim and distant ages when man's food supply consisted of roots, grains and fruits that grew wild, evidences are plentiful that some of this supply was preserved form the time for its maximum availability to time of greater need. The production becomes meaningful only if products timely reach the point of consumption. 5. Standardization & Grading: Standardization is the process of fixing certain norms for the product. It means determining the standard of product to be produced with regard to size, colour, form, weight, shape and quality. Grading means sorting of unlike lots of produce into different lots according to quality specification laid down. 6. Branding: The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. 7. Packing is the process of covering, wrapping or crating goods into a package. This is done for the purpose of delivering the articles to the consumer or for the purpose of transport. The potentialities of packaging especially in the field of demand creation are widely accepted now. It is often remarked as 'a silent salesman'. 8. Salesmanship: or Personal Selling is the oldest and most common form of promotion. It involves direct selling by the manufacturer to the prospective buyer. It is a face to face and oral communication with the potential customer for the purpose of persuading the buyer to buy a particular product or service.

Business Studies January 1, 2012

9. Advertising: is a form of communication used to persuade an audience (viewers, readers or listeners) to take some action with respect to products, ideas, or services. Advertising messages are usually paid for by sponsors and viewed via various media; including traditional media such as newspapers, magazines, television, radio, outdoor or direct mail; or new media such as websites and text messages. 10. Sales promotions: Is another way to advertise. Sales promotions are double purposed because they are used to gather information about what type of customers you draw in and where they are, and to jumpstart sales. Sales promotions include things like contests and games, sweepstakes, product giveaways, samples coupons, loyalty programs, and discounts. The ultimate goal of sales promotions is to stimulate potential customers to action. 11. Insurance: Companies undertaking insurance service will cover losses on damage on goods, economic loss and even credit loss. 12. Marketing information: decisions are based on facts and figures. Market intelligence means spreading of market information among buyers and sellers. As the trends in market will be changing constantly, the changes will affect the industry. This requires companies to keep their information up to date on changing supply and demand patterns. 13. Financing: It is the life-blood of the industry. It is essential for production and marketing. There is a time gap between purchase of raw materials and the manufacturing of finished products and from the time goods are made till the consumer pays for them. Banks and financial institutions cater to the waiting period.
Marketing Mix

Product

Promotion

Marketing Mix

Place

Price

Business Studies January 1, 2012

Product
Product mix is a combination of products manufactured or traded by the same business house to reinforce their presence in the market, increase market share and increase the turnover for more profitability. This includes a) Branding: There are many different definitions of a brand, the most effective description however, is that a brand is a name or symbol that is commonly known to identify a company or its products and separate them from the competition. A well-known brand is generally regarded as one that people will recognise, often even if they do not know about the company or its products/services. b) Grading: It implies the division of products into classes made up of unit possessing similar characteristics of size and quality. Grading is mostly done in case of raw materials, mineral products and agricultural products. There is no need to divided industrial product as they are produced according to pre- determined standards. c) Packing and Packaging: Packaging is the science, art and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages. Packaging can be described as a coordinated system of preparing goods for transport, warehousing, logistics, sale, and end use. Packing is only a physical action and provides a handling convenience. Pricing Price is a major marketing tool which helps in directing the product of a specific consumer agent. Price is the value of a product expressed in money. The following are the factors that affect pricing: a) b) c) d) e) f) g) h) i) j) Cost of production Cost of distribution Market competition Consumer reaction and response Middlemen reaction and response Prices of similar products or substitutes Legal provisions General economic conditions General political conditions Margins or profit

Business Studies January 1, 2012 Promotion It is the communication mix which deals with the personal and impersonal persuasive communication about the product or service of the manufacturer. The mix includes: a) b) c) d) Personal Selling Advertising Sales Promotion Trades and exhibitions

Sales Promotion Sales promotion is any initiative undertaken by an organisation to promote an increase in sales, usage or trial of a product or service. The objectives of sales promotion are: a) b) c) d) e) f) Awareness of new products introduced Information can be passed on to customers about the new brand and new package Market share can be improved Usage rate of products can be increased Customer patronage and brand loyalty can be maintained. More dealer outlets can be obtained

Advertising The Definitions Committee of the American Marketing Association defines advertising as, "any paid form of non- personal presentation and promotion of ideas, goods or services by an identified sponsor." The term advertising is derived from the Latin word, "advertere" which means 'to turn' attention. The objectives of advertising are: a) b) c) d) e) f) g) Create demand for a new product Extend market for an existing product Retain demand for an existing product Assist the salesman in the effort of sales promotion Overcome competition in selling goods or services Warn public against imitation of the particular product by other product To create reputation or goodwill for the product.

Merits of Advertising a) b) c) d) It increases the sales of the company. It makes the customers aware about the image of the company. It attracts new customers and creates brand loyalty in the previous customers. If a company introduces a new product in the market then the company can use advertising strategy to inform the customers.

Demerits of Advertising a) It requires a lot of budget.

Business Studies January 1, 2012 b) It can create issues of under demand and under supply for the company and dislocates the demand and supply equilibrium for the company. c) It can also distort the mission of the company and the image of the company in the market through wrong concept in advertisements. d) Over advertisement of a company can create a fuss among the customers Is Advertising an Economic Waste? a) It is incorrect to say advertisement increases prices of the product because increased production leads to reduction in cost of production. b) Advertisement creates market for a new product and extends market for existing products thus increasing sales. c) Advertisement imposes a duty on the advertiser to supply good quality product to consumers. d) In absence of advertisement; consumers would not be able to obtain information about the varieties of products and services in the market. Advertisement Copy A good advertisement copy must have the following characteristics: a) Attention Value: It should be able to draw attention of the people. This may be done using colourful pictures and graphics in the advertisement copy. b) Suggestive Value: It should suggest the consumers the use of the products, their features, advantages over competitors product etc. c) Convincing Value: It should convince consumers on benefits of the products advertised. This is done by giving facts and figures. d) Remembrance Value: People must remember the message of the advertisement for a long time. This can be done by using slogans in the advertisement copy and by repeating the advertisement again and again. e) Sentimental Value: It must awaken interest in consumers. The advertisement must not hurt the feelings of the reader. f) Education Value: It should educate the people in the use of the product.

g) Simplicity: It must be as simple as possible so that it can be easily understood by all. It must contain few words which can give more information.

Business Studies January 1, 2012 Media of Advertisement Advertisements are conveyed to the public through some media. The channel or means by which it is conveyed to the public is called advertising medium. The following are the main media of advertisement: 1. Press Advertising a) Newspaper Advertising: The advantages are as follows i. Wide circulation, so reaches a larger audience ii. Cost is relatively less iii. Continuous advertising is possible since newspapers are published daily iv. Advertising message can be changed promptly when necessary v. Message can also be conveyed to a particular locality by selecting the local newspapers. vi. Reduces the prices of newspapers. vii. It is suitable for brief / lengthy and illustrative advertisements viii. The advertising message can be conveyed quickly The disadvantages however are: Advertisements have short span of life, because the life of a newspaper is limited to just one day. ii. Advertisement message cannot be conveyed to illiterate people. iii. Most advertisements may be wasted because all the people may not be regular readers or may even ignore the advertisements. iv. Low quality of newspapers does not facilitate attractive colourful advertisements. b) Magazines: The advantages of magazines are: i. They have longer life than newspapers ii. As quality of paper is good, attractive and colourful advertisements are facilitated. iii. Special magazines, journals reduce chances of wastage as they are meant for only particular classes of people iv. The advertisement, in magazines is read carefully and hence they may have better impact on readers. The disadvantages are i. ii. iii. Costly compared to newspapers They have limited circulation Message cannot be changed daily i.

Business Studies January 1, 2012 2. Outdoor Advertising: This includes the following a) Posters & Painted displays: The advertisement message is written on paper or metal sheet and displayed in prominent localities. They are highly effective,, artistic and colourful. They can even attract illiterate customers. And are relatively cheaper as well. b) Electric Signs: they use lights which are colourful and have various shades to attract the customers. These are used in localities which are high in population. c) Sandwich-men: They carry sandwich boards, containing a message that is to be advertised. d) Car cards: they are posters placed in buses, trains, taxies and other vehicles. They are likely to be read by passengers. e) Skywriting: In this, balloons are fitted with illustrative pictures and flown. Airplanes are used to display illuminated banners containing the message in the open sky during evening times. This method is highly appealing and makes an effective impression in the minds of the people. The advantages of outdoor advertising are: i. Cheapest method of advertising ii. Can be employed in an area where there is high population. iii. Can attract attention of people easily iv. Even illiterate people can understand the message. v. Message is displayed for a long time so it can be read by a large number of people. The disadvantages of outdoor advertising are: i. ii. iii. They can be damaged by miscreants or by rival companies. Not suitable for lengthy advertisements Cannot be changed frequently

Business Studies January 1, 2012 3. Direct Mail Advertising: This means sending letters, circulars, catalogues etc directly to customers by the advertiser. The advertiser maintains a mailing list for customers. The advantages are: i. Has personal appeal and hence is more effective ii. Reduces the chances of wastage as the advertising message is sent only to selected customers. iii. Provides scope for detailed information. iv. Highly flexible form of advertising. The disadvantages are: i. ii. iii. iv. Costly medium of advertising Limited coverage Covers only literate persons Mailing list has to be updated regularly.

4. Radio Advertising: People can listen to radio in their vehicles, in waiting rooms, in many restaurants and a number of grocery stores. Radio advertising targets that captive audience through a series of 30 second or 60 second spots which promote products or services in a memorable way. Radio advertising is based on the idea of creating an audio-only environment and placing the listener inside of it. The advantages are: i. Has a wide appeal ii. Suitable for illiterates iii. Can secure dealer support iv. Announcement can be made quickly v. Message can be repeated. vi. Combines advertising and entertainment vii. Advertising can be made in a select geographical area. viii. It can secure regular response The disadvantages are: i. ii. iii. iv. v. vi. Costly Detailed information cannot be given. Message cannot be retained in the minds of the listeners Cannot be made visually appealing Listeners may not like it. Can create boredom if repeated regularly.

5. Television Advertisement: It is the most effective media of advertising as it uses both audio and video signals to convey the advertising message. The advantages are:

Business Studies January 1, 2012 i. ii. iii. iv. v. Uses both audio and visual effect on viewers so impact on the viewers is better. Reaches all categories of people in society. Wide coverage. Has personal touch and is educative value. Advertisement can be more persuasive and influence all types of people more strongly than any other media.

The disadvantages are: i. ii. iii. iv. v. Costliest form of advertising Limited reach to only those who have a TV. Difficult to get a slot on TV. Ad messages cannot be referred back and it has to be repeated. Ad copies cannot be changed regularly.

6. Film Advertising: These are done through cinema slides or by preparing feature films by different manufacturers. It has wider appeal. Audio-visual technique has maximum impact on audiences. The cost of the advertising is very high. 7. Window Display: refers to the displaying of products behind the glass window of a shop. The advantages are: i. Convenient and economical form of advertising ii. Ad copy can be artistic and visually appealing. iii. Flexible and can be changed when the advertiser wants. iv. Appeals to both literate and illiterate people v. Helps customer understand the type of goods available and their prices.

Salesmanship / Personal Selling Personal selling is a marketing process with which consumers are personally persuaded to buy goods and services offered by a manufacturer. Personal selling is a component element in the communication mix. It is a two- way form of communication that has' a. number of advantages from the point of view of marketing organization. Personal selling gives marketers the freedom to adjust the message to satisfy the customer's information needs. The American Marketing Association defines personal selling as "oral presentation in a conversation with one or more prospective purchases for the purpose of making sales". A significant feature of personal selling is the interaction between the marketer and the customer. For .e.g. Eureka Forbes and Aqua Guard uses this method for selling. Objectives of Salesmanship a) Retain existing customers

Business Studies January 1, 2012

b) Secure new customers c) Build goodwill for the seller. Importance / Functions / Advantages of Salesmanship a) Creation of Demand: Helps in creating demand and increasing production. b) Increase employment and income: Effective salesmanship increase activity which ultimately leads to increase in level of employment and income for the community. c) Improve products and sales policies: since salesmen are directly in touch with customers, it helps them understand the customer better. This helps manufacturer produce goods and frame policies according to needs of the customers. d) Avoidance of accumulation of stock: salesmanship increases turnover of goods and prevents accumulation of stock. e) New Products: it brings to the knowledge of consumers about the introduction of new products into the market. f) Raises standard of living Types of Salesmen a) Manufacturers Salesman: A manufacturers' representatives (rep), also known as sales agent, is an individual, sales agency or company that sells a manufacturer's products to wholesale and retail customers. They are further classified into: i. Pioneer Salesman: they create a market for new products introduced in the market by the manufacturers. ii. Dealer servicing salesman: sell to the dealers those products which are already existing in the market iii. Merchandising salesman: who give advice or collect information. They promote sales for direct orders.

b) Wholesalers Salesman: They are salesman employed by wholesalers to sell products to retailers. They visit retailers regularly and book orders. They also advice retailers on how to improve their sales. c) Retailers Salesman: They are classified into: i. Counter Salesman: they are salesman who will be in the counters of a retail outlet. They explain details of the products to the customers; also they will persuade customers to buy products by explaining features of the product. ii. Outdoor / Travelling salesman: spend much of their time travelling to, and visiting with, current clients and prospective buyers. They may show samples or catalogues that describe items their company provides, and they may inform customers about prices, availability, and ways in which their products can save money and boost productivity

Business Studies January 1, 2012

d) Speciality Salesman: He needs good deal of concentrated setting efforts; hence, there is a need for thorough and latest knowledge of such products; Deep market research and aggressive publicity. Such an up-to-date knowledge is a must because, with the lapse of time, the speciality products lose their specialities. As his work is creative, He is paid handsomely in the forms of salary, commission and bonus. Qualities of a Good Salesman a) Physical quality: A salesman should have a good appearance and an impressive personality. He should also have a sound health. b) Mental quality: A good salesman should posses certain mental qualities like imagination, initiative, self-confidence, sharp memory, alertness etc. He should be able to understand the needs and preferences of customers. c) Integrity of character: A good salesman should posses the qualities of honesty and integrity. He is to gain the confidence of the customers. He should be able to understand their needs and guide them how to satisfy those needs. His employer too should have faith in him. A salesman should be loyal both to the employer and to the customers. d) Knowledge of the product and the company: A salesman should have full knowledge of the product and the company he is representing. He should be able to explain each and every aspect of the product i.e. its qualities, how to use it, what precautions to be taken, etc. He should be able to explain the business and service record of the company. He should also have knowledge of products of rival companies. So that he can put across the superiority of his own products. e) Good behaviour: A salesman should be co-operative and courteous. Good behaviour enables one to win the confidence of the customers. He should not feel irritated if the buyer puts up many questions even if the questions are irrelevant. It is also not necessary that the person he is trying to convince buys the product. The salesman has to remain and courteous in every case. f) Ability to persuade: A good salesman should be good in conversation so that he can engage the person he is attending in conversation. He should be able to convince him and create the desire in his mind to posses the commodity. Methods of Remunerating Salesman a) Straight Commission Method: Under such method the remuneration is paid on the basis of the amount of sales made. The salesman is paid commission calculated at a certain percentage of net sales or profit. The percentage of commission varies from concern to concern and case to case. This is an effort-oriented of method of remuneration. The income of a salesman fluctuates directly with the volume of sales made. The advantages of This method are:

Business Studies January 1, 2012

i. ii. iii. iv.

Simple and easy to understand Provides incentives to the salesman to increase sales. Flexible Economical

The disadvantages are: i. ii. iii. There is uncertainty in income level of salesman It encourages reckless sales Inexperienced salesmen are penalized.

b) Straight Salary Method: A fixed salary is paid to the salesman at the end of every month irrespective of the sales made by him. Increment is given annually according to the scale of salary of the salesman. It is followed by firms where work done by an individual cannot be measured. The advantages are: i. Simple and easy to understand ii. Ensures a steady income for the salesman iii. Provides a sense of security to the salesman. The disadvantages are: i. ii. It doesnt provide directive incentive for hard work. Whatever be the sales, even efficient salesman may not work hard.

c) Salary plus commission method: A salesman is paid a fixed salary and a percentage of commission on the sales made by him. This ensures a minimum income to all the salesman and is the same time provides adequate incentive to stimulate them for greater efforts to increase the sales. d) Salary plus bonus method: Salesman is paid salary regularly and also bonus which is calculated on basis of earnings. The bonus is paid to the salesman at the end of the year. The merit of this system is that bonus acts as an incentive to the salesman to increase sales.

Business Studies January 1, 2012 Difference between Advertising and Salesmanship Advertising Salesmanship Impersonal in nature Personal in nature Contact is made with prospective customers Contact is made with prospective customers through messages through salespersons Consumes less time Involves a lot of time since salespersons should establish personal contacts with the public Ad campaigns can contact large number of Salespersons will not be in a position to establish people contact with large number of people. Advertising message makes advertising more Success of salesmanship depends on quality of successful salesperson. No personal touch, advertising may not be Salesperson establishes a rapport with the public effective it is considered more effective. Advertising precedes salesmanship Salesmanship follows after advertising Advertising isnt flexible Salesperson can adjust his communication based upon attitudes of customers. Hence more flexible. Appeals to the masses, so has more extensive Concentrates on individual customers and is outlook more intensive Advertising is a one way communication Salesmanship empathises two way communication More costlier than salesmanship Comparatively economical Response from public cannot be known Salespersons study responses and impulses of prospective customers immediately. Aims at creating interest in the minds of the Aims at effecting actual sales public Cannot clarify any doubt arising in the minds of Salesmen help the public by providing all the the public details thereby clarifying all the doubts.

Publicity Publicity is defined as "the deliberate attempt to manage the public's perception of a subject." The subjects of publicity include people (for example, politicians, and performing artists), goods, and services. From a marketing perspective, publicity is one component of promotion. Fairs They are events held for presenting or viewing of exhibits or for recreation. They are sometime called expositions or exhibitions. Fair in the ordinary sense is a competitive exhibition of farm products often mixed with carnival like entertainment and held annually by a country or a state.

Business Studies January 1, 2012 Exhibitions They are also known as trade shows. Generally organized on a large scale and are held regularly in cities. The purpose is to promote the sale of goods exhibited. Manufacturers and businessmen take part in this. A specific area is arranged for each participant to display their products. Visitors can check a variety of products and understand which suits their preferences best. Seminars They are of recent origin. They bring together experts in a particular field to present papers with regard to a particular subject. Audience or participants are drawn from similar fields on which papers are presented. A fee may be charged by the organizers for participants in the seminar. Demonstrations It is the art of exhibiting the operation or use of a device, machine etc to a prospective buyer. Demonstration is used as synonymous with proof. Manufacturers often resort to demonstration at a few retail outlets; sometimes salespersons demonstrate the product at the homes of customers as well. Public Relations The main goal of a public relations department is to enhance a companys reputation. Staff that work in public relations, or as it is commonly known, PR, are skilled publicists. They are able to present a company or individual to the world in the best light. The role of a public relations department can be seen as a reputation protector. Channels of Distribution A channel of distribution or trade channel is the path or route along which goods move from producers to ultimate consumers or industrial users. In other words, it is the distribution network through which a producer puts his product in the hands of actual users. The channel of distribution includes the original producer, the final buyer and any middlemen-either wholesaler or retailer. Direct Selling Direct selling is the marketing and selling products directly to consumers away from a fixed retail location. This is the shortest channel a product can follow to the market. It is suitable for industrial goods.

Producer

Consumer

It can be through any one of the following or through both means: a) Sales through advertising (mail order setting) b) Sales through travelling salesman. c) Sales through manufacturer owned retail outlets.

Business Studies January 1, 2012

Indirect Selling Producer will take assistance from one or more intermediaries or middlemen for making the products reach the consumers. Producer Retailer Consumer

When buyers are large retailers, the wholesaler can be bypassed in the trade route. This is suitable when products need to reach the consumer quickly as in case of perishable goods. The producer must perform functions of wholesaler such as storage, insurance, financing of inventories, transport etc. Producer Wholesale Retailer Consumer

This is a normal regular channel. Suitable to the producer under the following conditions: a) When he has limited finance at his disposal b) When there are professional wholesalers who can provide strong promotional support. c) When products are durable and not subject to perish. Retailer Consumer

Producer

Agent

Wholesale

In this the producer will use the services of an agent to distribute goods. The agent sells to a wholesaler who in turn sells to retailers. Goods reach buyers from the retailer. The agent operates at wholesale level. In marketing manufactured goods, agents are employed by companies to free themselves from marketing tasks. Consumer

Producer

Wholesale

Wholesaler might directly sell the commodities to the consumers when there are large and corporate buyers such as hospitals, consumer cooperatives, business houses, industries, governments etc Network Marketing / Multi Level Marketing Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of others they recruit, creating a down line of distributors and a hierarchy of multiple levels of compensation. Other terms for MLM include network marketing, pyramid selling, and referral marketing.

Business Studies January 1, 2012 Most commonly, the salespeople are expected to sell products directly to consumers by means of relationship referrals and word of mouth marketing. Some people equate MLM with direct selling, although MLM is only one type of direct selling. Previous Year Questions on this Chapter SECTION A 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Expand MLM. (Mar-11) Write any one of the indirect channels of distribution. (Mar-10) Write any one channel of distribution. (Mar-06) Mention any one type of salesman. (Mar-09) Mention any one objective of branding. (Mar-07) Give any two functions of marketing. (June-07) State any two elements of marketing mix. (June-09, June-10) Mention any two forms of outdoor advertising. (Mar-08) State any two advantages of television advertising. (June-11) What are demonstrations? (June-06)

SECTION B 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. What is marketing mix? (Mar-07) Mention any two advantages of Window Display. (Mar-07) Write any two differences between selling and marketing. (Mar-09, Mar-10) Give meaning of network marketing. (Mar-09, Mar-06, June-08, June-10) State any two objectives of advertising. (Mar-06, June-06) What is an advertisement copy? (Mar-10) Write any two types of outdoor advertising. (Mar-11) Who is a promotional salesman? (Mar-11) What is personal selling? (Mar-08) What are public relations? (June-06) What is publicity? (Mar-06) Define channels of distribution. (June-06)

SECTION C 1. 2. 3. 4. Explain any 5 merits of TV advertising. (Mar-11) Explain any 5 objectives of advertising. (Mar-10, Mar-07) Explain in brief the various forms of outdoor advertising. (Mar-06) State the essential features of a good advertisement copy. (Mar-09, June-07, June-08, June11)) 5. Explain the elements of marketing mix. (June-07) 6. What are the limitations and of newspaper advertising? (June-10) 7. What are the differences between advertising and salesmanship? (Mar-08)

Business Studies January 1, 2012 SECTION D 1. Explain the qualities of a successful salesman. (Mar-06, Mar-07, Mar-09, Mar-11) 2. Explain the functions of marketing. (Mar-09, June-08, June-11) 3. Explain the various methods of remunerating salesman. (Mar-10, Mar-11, Mar-06) SECTION E 1. Prepare a list of any 5 products and suggest suitable media of advertisement. (Mar-10)