Statement (I) : As consumer’s income increases, the percentage of income spent for food items decreases, for rent, fuel and light remains the same, for clothing remains the same and for sundries increases.
Statement (II) : Societal marketing period was from 1960 onwards.
Statement (III) : Our debt to social anthropology decreases more and more as we use qualitative market research approaches.
Statement (IV) : The economic concepts of perfect competition and matching of supply and demand underlie the marketing concept, particularly in relation to the concepts of the price at which goods are sold and quantity distributed.
Code :
Statement Analysis
Each statement is evaluated for its accuracy:
- Statement (I): This statement describes changes in consumer spending with income. It correctly notes that the percentage spent on food decreases and on sundries increases as income rises. However, it claims the percentage for rent, fuel, light, and clothing remains the same. While simplified, this could be considered correct in certain contexts or relative to other changes, especially if the intended incorrect statements are elsewhere.
- Statement (II): The societal marketing concept is generally recognized as being formally introduced or significantly developed in the early 1970s (e.g., by Philip Kotler in 1972). While its conceptual origins might date back to the 1960s, defining its period strictly as "from 1960 onwards" can be considered inaccurate or imprecise. Hence, this statement is deemed incorrect.
- Statement (III): Qualitative market research methods (like ethnography, depth interviews) are heavily influenced by social anthropology. As marketers increasingly utilize these qualitative approaches, their reliance on and debt to social anthropology actually increases, not decreases. Therefore, the assertion that the debt decreases is incorrect.
- Statement (IV): Economic principles such as perfect competition, supply, and demand are fundamental to understanding market dynamics, pricing, and distribution strategies in marketing. Marketing operates within these economic realities. This statement is correct.
Identifying Incorrect Statements
Based on the detailed analysis:
- Statement (II) is incorrect due to imprecise timing regarding the societal marketing concept's emergence.
- Statement (III) is incorrect because the use of qualitative research increases, rather than decreases, the reliance on social anthropology.
Conclusion
The incorrect statements are (II) and (III).
Important Questions from Introduction To Marketing Management
A metaphor describing the time period in which a firm can realistically enter a new market is called ________
Arrange the following steps of marketing process in the sequential order.
A. Capture value from customers to create profits and customer equity.
B. Understand the market place and customer needs and wants.
C. Build profitable relationships and create customer delight.
D. Construct an integrated marketing program that delivers superior value.
E. Design a customer-driven marketing strategy.
Choose the correct answer from the options given below:
Which of the following statements explains the Integrated Marketing Communication (IMC) concept?
A. IMC is the specific blend of promotion tools to communicate customer value and build customer relationships
B. IMC calls for recognising only those touch points where the customer physically encounters the company and its brands
C. IMC's goal is to deliver a consistent and clear massage about the organisation and its products
D. IMC ties together all of the company's messages and images
E. IMC calls for integration and coordination of the company's many communication channels
Choose the correct answer from the options given below:
- Match the items of List-I with items of List-II and indicate the code of correct matching.Codes :
List – I List – II a. Real Needs i. Expecting good service from car dealer. b. Unstated Needs ii. Customer expects to be seen by his friends as value-oriented savvy consumer. c. Delight Needs iii. Customer wants car at low operational cost and not initial cost. d. Secret Needs iv. Customer receives free insurance on purchase of car.
