Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Marketing

Question:

Read the following case study and answer the questions.

Sonali, on completing her class XII, planned to start 'pickle making' business with the help of her mother and elder sister. Firstly, she went to the market to analyse the consumer trends, tastes and competitor's products. After the analysis, she started her work on a small scale. She finalised that her pickles would be known by the name of "Chatpata". Her mother suggested that the pickles should be packed in air tight glass jar to ensure freshness as well as purity. Also, these glass jars should be sealed and a hologram should be put on the tag.

The elements of Marketing mix discussed in the above case is:

Options:

Promotion

Price

Product

Place

Correct Answer:

Product

Explanation:

The correct answer is Option (3) - Product. 

Sonali plans to start a "pickle making" business named "Chatpata." The product is pickles that will be packed in air-tight glass jars to ensure freshness and purity. The suggestion to use sealed glass jars and add a hologram to the tag is also part of the product strategy.

Price: Price is the amount of money customers have to pay to obtain the product. In case of most of the products, level of price affects the level of their demand.

Place: Place or Physical Distribution include activities that make firm's products available to the target customers. Important decision areas in this respect include selection of dealers or intermediaries to reach the customers, providing support to the intermediaries (by way of discounts, promotional campaigns, etc.).

Promotion: Promotion of products and services include activities that communicate availability, features, merits, etc. of the products to the target customers and persuade them to buy it. Most marketing organisations, undertake various promotional activities and spend substantial amount of money on the promotion of their goods through using number of tools such as advertising, personal selling and sales promotion techniques (like price discounts, free samples, etc.).