3. III. • Reprints of newspaper and magazine articles. • Others marketing experiences (such as Walt Disney) or places (like tourist destinations). The entire focus in selling is to covert the product into cash. A company may not focus its attention on all activities, but choose one particular marketing philosophy like product concept or selling concept. information to independent media sources in the hope of gaining favorable coverage. There are 4 basic marketing tools : 1. 3. In the marketing class 12 notes, we will explain the meaning of âmarketingâ. 1. No marketing programme will commence if product does not It includes all the topics given in NCERT class 12 Business Studies text book. Synergy in Total Promotional Efforts: Sales promotion activities add to the overall effectiveness of the promotional efforts (advertising and personal selling) of a firm. Gathering And Analyzing Market Information: • Decisions can be wrt. Personal Selling Personal selling consists of contacting prospective buyers of product personally i.e face to face interaction between seller and buyer for the purpose of sale. 1. Learning the important concepts is very important for every student to get better marks in examinations. • Channels of distribution: Whether wholesalers, retailers are to be used or not. Price 4. The Class 12 Business Studies revision notes Chapter 11 enlists and briefs on all the essential topics such as the definition of marketing, features of marketing, functions of marketing, marketing mix, elements of the marketing mix, and so on. of the consumer which in turn helps the organization in planning and decision-making process. Manufacture-wholesaler-Retailer-customer. Needs and wants: Satisfaction of the needs and wants of individuals and organizations. Users can download CBSE guide quick revision notes ⦠Publication date 2017-04-01 Topics Marketing (783) Class XII Syllabus Time: 3 Hours, Marks: 60 1. 3. Candidates who are ambitious to qualify the Class 12 with good score can check this article for Notes. 4. • They help to overcome time, place and possession gaps that separate the goods and services from those who need/want them from those who want them. “The Chartered Institute of Public Relations” defines Public Relations as a strategic management function that adds value to an organization by helping it to manage its reputation Public relations covers a wide range of tactics, usually involve providing. • Elasticity of demand = responsiveness of demand to change in prices of a product. Qualities of a Good Salesman, 1. It is the process of organizing, directing and controlling the activities related to marketing of goods and services to satisfy customers’ needs & achieve organizational goals. Marketing is a skillful profession hence scoring well in this subject is not everyone's cup of tea. 4. adaptable to packing or labeling requirements, to different advertising media and to different languages. Quantity Gift: Offering extra quantity of the product e.g., Buy three LUX soaps and get one free. The Class 12 Business Studies Chapter 11 Revision Notes comprise the solved exercise questions given for this chapter. Government Policies: Products regulated by government pricing regulations need to be priced as per government policies. 1. Even if you wish to have an overview of a chapter, quick revision notes are here to do if for you. Grading of products: With the help of label, products can be graded indifferent categories for example: Brook Bond Red Label, Brook Bond Yellow Label, Green Label etc. CBSE Notes CBSE Notes Business Studies NCERT Solutions Business Studies. Sample Paper all are made available through the best app for CBSE students and myCBSEguide website. 3. (b) Obtain large share of the market i.e., by maximising sales it will charge lower price. They can be divided into: • Goods marketers (such as Hindustan Lever), • Services marketers (such as Indian Airlines). Good communication skills – Polite, tactful, having good manners etc. Expressiveness – due to development in art, computer designs and graphics, special effect can be created that makes simple products and messages look attractive. Identify the product: It helps the customers to identify the product from the various types available. • Innovational Opportunities – innovation on packaging used to market products e.g. Capacity to inspire trust Sales Promotion refers to short term incentives/ other promotion activities that seek to stimulate interest, trial or purchase. 8. Here you can read Chapter 11 of Class 12 Business Studies NCERT Book. a Colgate toothpaste usually comes in a card board box. Dec 03, 2020 - Chapter 11 - Marketing Management (Class Notes), BST, Class 12, CBSE | EduRev Notes is made by best teachers of Commerce. 5. Decisions include decisions wrt basic price, discounts to be offered etc. This document is highly rated by Class 12 students and has been viewed 2117 times. Convenience: It provides convenience in carriage, stocking and in consumption. For example if we take Dove Soap, the fragrance of the soap, the moisturizing ability, the pristine white colour, the brand name, the price, the positioning as luxury soap all have gone into the marketing of product personality. Objections against Advertising: Though advertising is one of the most frequently used medium of promotion of goods & services but it attracts a lot of criticism/objections against it, which are as follows: 1. • In the modern marketing sense, it refers to a set of actual or potential buyers of a product or service i.e. The title of the product is transferred from seller to buyer. Bending the customer according to the product. Retail audit means verification or checking performance of a retail organisation. Competition in Market: Prices of competitors need to be considered before fixing prices. all customers who share a particular need or want and are able to buy the product (also referred to as target markets). 7. PRODUCTION CONCEPT = In the earlier days of the industrial revolution, the number of producers were limited, → limited supply of industrial products → not able to match demand . Product Meaning & Importance of Product. Making sale well in this subject for CBSE Class 12 Business Studies study material and a smart preparation.! To different advertising media and to different advertising media and to different languages marketing... My CBSE guide quick revision Notes are here to do if for you buy is backed by purchasing power an! Giving a Boost to production and generating employment value: greatest benefit or value for the next I! 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