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Business Studies · 2023 · 6 marks
CBSE 2023 · Region 3 · Set 3 · Q32
(a) ‘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…
‘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
OR
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
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CBSE Class 12 Business Studies past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.