✓ Board-verified
Business Studies · 2023 · 6 marks
CBSE 2023 · Region 3 · Set 3 · Q32
‘A mixture of tangible and intangible attributeswhich is capable of being exchanged for a value withthe ability to satisfy customer needs is an importantelement of marketing mix.’ Identify and state theconcept. Also explain the three important decisionsincluded in this element.‘ It is a social process by which individual groupsobtain what they need and want through creatingofferings and freely exchanging products and servicesof value with others,’ Identify and state the process.Also explain any three of its features.
‘A mixture of tangible and intangible attributes
which is capable of being exchanged for a value with
the ability to satisfy customer needs is an important
element of marketing mix.’ Identify and state the
concept. Also explain the three important decisions
included in this element.
‘ It is a social process by which individual groups
obtain what they need and want through creating
offerings and freely exchanging products and services
of value with others,’ Identify and state the process.
Also explain any three of its features.
Marking-scheme solution
Product
Product means goods or services or ‘anything of value’
which is offered to the market for sale.
Important decisions included in Product
(i)
Branding
(ii)
Packaging
(iii)
Labelling
Marketing
Marketing is a process whereby people exchange goods
and services for money or for something of value to them.
Features of marketing :
(i)
Needs and wants
(ii)
Creating a market offering
(iii)
Customer value
(iv)
Exchange Mechanism
More from Marketing
- Explain the following functions of marketing: (i) Customer support services (ii) Branding (iii) Product…2025
- Which of the following statements is incorrect about Personal Selling?2023
- ‘A good physical distribution system should provide for an accurate and speedy processing of orders in the…2023
- ‘X Ltd.' is engaged in the manufacturing of cars. The company surveyed the market and found that customers…2023
- From the picture given below identify the promotional tool used by the organisation to achieve its…2025
- Match the various items of Column - I with the respective statement in Column-II. Column- I Column- II a.…2023
- In which of the following situations, a company will fix high price for its product?2023
- The pouch depicted below contains packets of different flavours of chips. Identify the level of packaging of…2026
CBSE Class 12 Business Studies past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.