3. Distribution
Distribution/place is the process of making products available in desired quantities to as many customers as possible, while holding total inventory, transportation, and storage costs as low as possible.
Intermediaries, usually wholesalers and retailers, perform many of the activities required to move products efficiently.
4. Promotion
Promotion is a persuasive form of communication that attempts to facilitate a marketing exchange by influencing individuals, groups, or organizations to accept the firm’s products.
The promotion variable includes advertising, personal selling, publicity, and sales promotion
Marketing is not about manipulating consumers to get them to buy products they do not want.
QUESTION 2
a) Define the term, marketing. (20 marks)
Marketing is a group of activities designed to expedite transactions by creating, distributing, promoting, and pricing goods, services, and ideas. These activities ensure that the products consumers want to purchase are available at a price they are willing to pay and provide consumers with information about product features and availability.
b) Describe the four bases to market segmentation. (80 marks)
* Demographic—age, sex, race, ethnicity, income, education, occupation, family size, family life cycle, all characteristics often closely related to customers’ product needs and purchasing behaviours.
* Geographic factors—climate, terrain, population density, and sub cultural values that influence consumers’ needs and product usage.
* Psychographic—personality characteristics, motives, and life styles.
* Behaviouristic—how consumers’ behaviour toward the product affects its use.
QUESTION 3
a) What is marketing concept? (20 marks)
The marketing concept is the idea that an organization should try to satisfy
customers’ needs through coordinated activities that allow it to achieve its own
goals.
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