Production Concept and Product Concept

Q.

Explain "increasing competition" and "more demanding customers" as the impact of government policy changes on business and industry.

Q.

An auto company C Ltd., is facing a problem of declining market share due to increased competition from other new and existing players in the market. Its competitors are introducing lower-priced models for mass consumers who are price sensitive. For quality conscious consumers, the company is introducing new models with added features and new technological advancements.

Prepare a model business plan for C Ltd. to meet the existing challenge. You need to be very specific about quantitative parameters. You may specify which type of plan you are preparing.

Q. concept focuses on the quantity of product.

1. Product
2. Production
3. Selling
4. Marketing

Q.

Grading ensures the customers that the goods belong to a particular quality and helps the marketer to fix the prices easily. State true and false.

1. False

2. True

Q.

Discuss in brief how do the below mentioned points influence price determination.

(i) Objective (ii) Cost

(iii) Competition (iv) Buying motives

Q.

Product may not always refer to physical product only from a marketing point of view. State true or false.

1. True

2. False

Q. Short Answer Type Questions
Distinguish between the product concept and production concept of marketing.

Q. Five Mark Questions:-
Explain any four factors which affect the determination of price of a product.

Q.

How is pricing related to profit and the marketing mix?

Q. Third step of value based pricing is to ______.

1. Assess needs of customer
2. Set target price
3. Determine incurred costs
4. Design product

Q. Short Answer Question.
Rajiv has written a book on management studies. What factors must be considered by Rajiv before fixing the price of the book?

Q. What is the focus of product concept?

Q.

The price of a product has a large impact on the number of people who buy the product. State true or false.

1. True

2. False

Q. Short Answer Type Questions :
Describe the concept of Business in modern context.

Q. Five Mark Questions:-
Give the meaning of 'price' as an element of 'marketing mix'. State any four factors which affect the price determination of a product.

Q. When a firm charges different prices for different groups of customers, it may be accused of _________.

1. cultural relativism
2. money laundering
3. facilitating payments
4. price discrimination

Q. When _____ there will be allocative efficiency meaning thereby that the cost of the last unit is exactly equal to the price consumers are willing to pay for it and so that the right goods are being sold to the right people at the right price.

1. MC = AC
2. MC = MR
3. MC = AR
4. AR = MR

Q. Third step of cost-based pricing is to _______.

1. Design a product
2. Determine cost of product
3. Set price based on cost
4. Convince buyer about products value

Q.

is features of money n capital market out of sylbs??

Q. Six Mark Question:-
Explain any three factors thai are taken into consideration while taking decision of pricing the product.

Q. Six Mark Question:-
'Pricing of a product is an important and effective competitive weapon in marketing which depends upon various factors.' Explain any three such factors.

Q. Pricing strategy in which prices are based on cost of distribution and production plus fair return rate is called as _______.

1. Differentiated pricing
2. Competitive pricing
3. Cost based pricing
4. Value added pricing

Q. Which of the following factors do not affect the fixation of the price of a product?

1. Social culture
2. The utility and demand
3. Cost of the product
4. Extent of competition in the market

Q. Arrange them in the correct sequence.
i. Pricing objectives
ii. Pricing methods
iii. Pricing strategies
iv. Pricing decisions

1. $ii,i,iv,iii$
2. $iv,ii,iii,i$
3. $i,iii,ii,iv$
4. $i,iv,iii,iii$

Q. Price discrimination is profitable and possible if the target market has __________.

1. equal electricity of demand
2. different elasticity of demand
3. inelastic demand
4. highly elastic demand

Q.

Nish a school bag manufacture decided to improve the product for profit maximization and thus added a water bottle holder to the existing design.

(1). Identify the marketing management philosophy adopted by nisha and

(2). Explain this philosophy on the basis of:

(a). main focus and (b) means and ends.