EMKT503 Unit 1 Introduction Subjective Questions with Answers

EMKT503 Unit 1 Subjective Questions with Answers - Introduction

Q. Explain Market vs Marketing.

Answer: A market is an arrangement where buyers and sellers meet; marketing is the wider process of identifying needs, creating value, communicating benefits and building relationships. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Exchange Process.

Answer: Exchange happens when parties have something valuable, can communicate, can accept or reject and voluntarily trade. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Selling vs Marketing.

Answer: Selling pushes existing products for short-term sales, while marketing begins with customer needs and aims at long-term satisfaction. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Why is Introduction important?

Answer: Introduction is important because it helps managers understand customers, competitors and strategic market decisions. It improves planning, implementation and customer satisfaction.