Test Preparation on IBPS SO Mains Marketing Officers Mock Test-5

Some of the markets on a geographical basis are Local—Milk, Bread, etc; Regional-Rajma; National— Arhar Daal, Agarbatti; World—Foreign Exchange.

According to Brech, Marketing is a process of determining consumer demand for a product or service, motivating its sale, and distributing it into ultimate consumption at a profit. According to Kotler, Marketing
serves as a link between a society’s needs and its pattern of industrial response.

The selling concept is customer-oriented. As per this concept, customers, if left alone will not buy enough of the products of an organization. His attention has to be attracted towards their product. In other words,
Consumers can always be induced to buy more. Therefore organizations must give importance to aggressive selling and promotional efforts.

Integrated marketing believes that Organisation as a whole should be focused on the Customer. This marketing concept is based on the following four fundamental premises: Target Market, Customer Needs,
Integrated Marketing or inter-departmental cooperation & coordination, and Profitability.

Selling & Marketing are not the same. They are entirely different from each other. While selling focuses on the company's needs, marketing focuses on the buyer's needs.

Examples of Pure goods are Soaps, shampoos, toothpaste, furniture, Groceries, Radio, Clothes, Footwear, etc. Bread, Milk, Books, Footwear are pure tangible goods. Financial services, Educational services, Beauty parlors, Law firms, etc are examples of services