Marketing obj
1 BDBDCBADBA
11 CDACBCDCDB
21 BDADBABDCA
31 CCDCDCCAAA
41 BBDADCCADD (1a)
Pricing can be defined as the amount/anything that is being
used to facilitate change
(1b)
Marketing concept is premised on the identification and
determination of the needs and wants of the prospective
clients or customers,therefore the business firm must
adapt to the 4ps of the marketing mix ie price,product,place
and promotion to ensure efficiency and effectiveness of
meeting and satisfying the needs and wants of the
customers
(1c)
-Product
-Price
-Place
-Promotion
-Product:This connotes the broad concept that
encompasses the satisfaction of all consumer needs in
relation to a good,service or idea.It includes making
decisions about customer service,package design,brand
names,trademarks,warranties,product
development,quality, feature and packaging
-Price:Price is the amount that is used to facilitate
exchange.Price is the most sensitive one because customer
sensitive marketing mix because customer respond more
to price strategy.
-Place:This is otherwise refers to as distribution,time
utilities and they conditions that enable consumers and
business users to have product available for use when and
where they want them.
-Promotion:This relates to all marketing activities made to
convince potential customers that the right product is
available at the right place and at the right price through
publicity,advertistment,sales promotion, and other
promotion techniques
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(2a)
A product is defined as a good,services or idea consisting of
tangible and intangible attributes that satisfies consumers
and is recieved in exchange for money and some offer
units of values
(2b)
Product is used in marketing strategy discussion while
production concepts is used for manufacturing
(2c)
-Failure to understand customer needs and wants
-Fixing a non-existent problem
-Targeting of wrong market
-Incorrect pricing
-Weak teams and internal capabilities
-Prolonged development
-Delayed entry
-Poor execution
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(5a)
Sale promotion may be defined as methods which last for
specified period adopted by manufacturers aimed at
bringing the existence of goods or introduction of new ones
to the knowledge of consumers and to boost sales
(5b)
-To inform the public of the places prices and method of
obtaining the goods advertised
-It is also aimed at increasing sales and profits of firm
-It is also used to informs the customers of the benefits of
goods advertised
-It informs the public about the existence of new goods or
service
-It is also used to create demand
(5c)
-It arouses the interest of the buyers
-It creates product awareness
-It gives rooms for demonstration
-It allows the buyers to negotiate for better prices and other
favourable terms
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(6a)
-He carries out market research
-He helps to develop marketing strategies
-He helps to perform mutual relationship between the
management and consumer
-He assigns duties and set targets to other memebers of
staff
-He evaluates the performance of the staff periodically
-He helps to analyse market trends with the aim of
identifying new market for their product and services
