A complete offer for a product or service, having given features like size, quality, taste, etc; at a certain price; available at a given outlet or location is referred to as:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Market offering
Option (1) Market offering — Correct. A market offering is the complete offer made to buyers: the product with its features, its price, and the place where it can be bought. A cell phone sold in four versions, each at its own price and through chosen shops, is one example.
Option (2) Marketing — Incorrect. Marketing is the whole process of finding out what buyers need and satisfying those needs through exchange. Creating a market offering is only one of its functions.
Option (3) Satisfying needs and wants — Incorrect. This is the aim of marketing. It is not the name for the offer made to the buyer.
Option (4) Selling — Incorrect. Selling is the transfer of ownership of goods to the buyer for a price. It pushes what has already been made, and says nothing about what the offer contains.
NCERT (2026-27 Edition): “Creating a Market Offering: On the part of the marketers, the effort involves creation of a ‘market offering. Market offering refers to a complete offer for a product or service, having given features like size, quality, taste, etc; at a certain price; available at a given outlet or location and so on. Let us say the offer is for a cell phone, available in four different versions, on the basis of certain features such as size of memory, television viewing, internet, camera, etc., for a given price, …” |
Note: The same/similar question has been asked in different years by NTA as per the details given below:
| 2026 | 2025 | 2024 | 2023 | 2022 |
| 12-05 S1 | 14-05 S1 | – | – | – |