Question

Match the correct Pairs.

Group A	Group B
a) Marketing b) Marketing Mix c) Price d) Physical distribution e) Durable product	1) Exchange value of goods 2) Cost of Commodity 3) One of the important elements of marketing management 4) An important instrument of employment 5) Warehouse 6) Channel of distribution 7) Vegetables 8) Machinery 9) Seller 10) Producer

Answer 1

Group A	Group B
a) Marketing b) Marketing Mix c) Price d) Physical distribution e) Durable product	4) An important instrument of employment 3) One of the important elements of marketing management 1) Exchange value of goods 6) Channel of distribution 8) Machinery

Explanations:
a) Marketing involves a lot of activities, such as transport, warehousing, packaging, branding, sales promotion, advertising, etc. As a result, there is a lot of scope for employment in the field of marketing. Hence, we can say that marketing is an important instrument for employment.

b) Marketing mix refers to a set of marketing tools that are used to achieve the various desired objectives of marketing. A marketing mix combines four elements, namely, product, price, place and promotion in a manner that helps meet the organisational objectives. Thus, marketing mix is an important element of marketing management.

c) Price refers to the exchange value of goods and services, i.e. it is the amount that is required to be paid in order to get goods and services. The exchange value can be paid in kind or in cash. For example, the value of a packet of Maggi is Rs. 10. The pricing of goods must be such that it reflects the economic, social and psychological benefits received by the consumer.

d) Physical distribution implies the easy availability of goods to the consumer, especially at a time when they are needed. In order to distribute goods, different channels are adopted. For example, goods can be delivered directly to the consumer or through intermediary channels, i.e. from the producer to the wholesaler, from the wholesaler to the retailer and finally, from the retailer to the consumer.

e) Durable goods are those that are long-lasting. For example, vehicles, machinery, furniture, etc. are goods that do not wear out easily.