Marketing Theory and objectove Answer

: Marketing obj:
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1a)
market refers to the group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product
1b)
i)Market research- is about gathering
information concerning your target
customers.
ii)Promotion Most business owners are familiar with the idea of promotion.
iii)Selling While we tend to think of selling and marketing as being closely linked, selling is last on the list of the seven functions of marketing.
iv)Pricing Setting the correct price for your product or service can be a challenge.
1ci)
government market is a group of consumers that consists of local, state and federal authorities.the government market spends the most money of any other consuming group, and so presents
an attractive marketing target for some businesses.
1cii)
reseller market buyers who purchase with the intent of selling those products to others. The reseller market includes wholesalers, retailers, and distributors.
1ciii)
Industrial marketing is the marketing of goods and services by one business
to another. Industrial goods are those
an industry uses to produce an end
product from one or more raw materials.
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(2a)
i)To promote the good image of an organization.
ii)To inform the public about the existence of a product.
iii) To educate the public about the benefit of a product
iv)To entertain the public in its presentation and packaging
(2b)
Advantages
i) It’s very convenient and flexible means of advertising.
ii) To ensure that their msg is strong and persensive
iii) It’s capable to reach lot of ppl i.e mass coverage.
Disadvantages
I)Television advertising cost more than others from of media
ii)lack of regular power supply can discourage the media
iii)Different technological immunisation enable customers to block advertisement all together
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4a)
Political is attracting increasing interest and utility in public and media discussion
4b)
Cultural offers a unique shopping experience for locals and visitors alike. Nowhere else in Fredericton can you experience a traditional
4c)
technological the tools and platforms used by sales and marketing organizations to effectively complete their duties.
4d)
economic is where decisions regarding investment, production, and distribution are based on the interplay of supply and demand, which determines the prices of goods and services
4e)
social is sometimes seen only as using standard commercial marketing practices to achieve non-commercial goals, this is an oversimplification.
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5a)
problem recognition The acknowledgement and definition of an issue that does or may arise during the performance of a process.
5b)
Information Search is a stage in the
Consumer Decision Process during which
a consumer searches for internal or
external information.
5c)
Evaluating Alternatives During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes.
5d)
Purchase decision is the thought process that leads a consumer from identifying
need, generating options, and choosing a specific product and brand.
5e)
Post-purchase behavior is when the
customer assesses whether he is satisfied or dissatisfied with a purchase.
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6a)
i)Buying:
A retailer buys a wide variety of goods from different wholesalers after estimating customer demand.
(ii)Storage:
A retailer maintains a ready stock of goods and displays them in his shop.
(iii) Selling:
The retailer sells goods in small quantities according to the demand and choice of consumers. He employs efficient methods of selling to increase his sales turnover.
(iv) Grading and Packing:
The retailer grades the goods which are not graded by manufacturers and wholesalers. He packs goods in small lots for the convenience of consumers.
(v) Financing:
Some retailers grant credit to customers and provide the facility of return or exchange of goods. In some cases, home delivery and after sale service are provided by retailers.
(6b)
i)Provides manufacturers with market information on consumer want and competitor activities.
ii)Advertises goods on behalf of manufacturers.
iii) Provides a ready market manufacturers.
iv)Blends, packages, grades , bleaches, dyes and brands goods.
v) Clears manufacturer’s production lines thus allowing manufacturers and producers to concentrate on manufacturing and production.
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