MARKETING OBJ&EASSY

MARKETING OBJ:
1DABDABBCCD
11CCCABABCDD
21BBBDADCAAD
31CBBBBDABDA
1A. pricing is the process
whereby a business sets the
price at which it will sell its
products and services, and
may be part of the
business's marketing plan.
1B. The marketing concept is the philosophy that
firms should analyze the needs of their
customers and then make decisions to satisfy
those needs, better than the competition.
To better understand the marketing concept, it is
worthwhile to put it in perspective by reviewing
other philosophies that once were predominant.
While these alternative concepts prevailed during
different historical time frames, they are not
restricted to those periods and are still practiced
by some firms today.
there are different type of marketing concept which are :
i. The Production Concept: The production concept was the idea that a firm
should focus on those products that it could
produce most efficiently and that the creation of
a supply of low-cost products would in and of
itself create the demand for the products.
ii. The Sales Concept :
By the early 1930's however, mass production
had become commonplace, competition had
increased, and there was little unfulfilled
demand. Around this time, firms began to
practice the sales concept (or selling concept ),
under which companies not only would produce
the products, but also would try to convince
customers to buy them through advertising and
personal selling. Before producing a product, the
key questions were:
Can we sell the product?
Can we charge enough for it?
The sales concept paid little attention to whether
the product actually was needed; the goal simply
was to beat the competition to the sale with
little regard to customer satisfaction.
iii. The Marketing Concept: When firms first began to adopt the marketing
concept, they typically set up separate marketing
departments whose objective it was to satisfy
customer needs. Often these departments were
sales departments with expanded
responsibilities. While this expanded sales
department structure can be found in some
companies today, many firms have structured
themselves into marketing organizations having a
company-wide customer focus. Since the entire
organization exists to satisfy customer needs,
nobody can neglect a customer issue by
declaring it a "marketing problem" - everybody
must be concerned with customer satisfaction.
4a
Quality is a critical aspect of business strategy. Firms compete on quality, customers search for quality, and markets are transformed by quality. It is a key force leading to delighted customers, firm profitability, and the economic growth of nations.
4b
Intensive Distribution: Intensive distribution aims to provide saturation coverage of the market by using all available outlets. For many products, total sales are directly linked to the number of outlets used (e.g., cigarettes, beer). Intensive distribution is usually required where customers have a range of acceptable brands to choose from. In other words, if one brand is not available, a customer will simply choose another.
Selective Distribution:
Selective distribution involves a producer using a limited number of outlets in a geographical area to sell products. An advantage of this approach is that the producer can choose the most appropriate or best-performing outlets and focus effort (e.g., training) on them
Exclusive Distribution:
Exclusive distribution is an extreme form of selective distribution in which only one wholesaler, retailer or distributor is used in a specific geographical area.
4c
(i) Not Keeping Promises
(ii) Poor Customer Service
(iii) Rude Staff
(iv) No Omni-channel Customer Service
(v) Not Listening to Customers
(vi) Low Quality of Products or Services
(vii) Inaccessibility
5a)
Sales promotion is one of the five aspects of the promotional mix. (The other 4 parts of the promotional mix are advertising, personal selling, direct marketing and publicity/public relations.) Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include contests, coupons, freebies, loss leaders, point of purchase displays, premiums, prizes, product samples, and rebates.
6a)
i)Conducting Market Research: Marketing managers carry out market research to gain a clear understanding of what an organization's customers really want.
ii)Developing the Marketing Strategy Marketing managers are responsible for
developing marketing strategies for their
organizations.
iii)Customer Relationship Management:The marketing manager performs the function of championing customer relationship management in the organization.
iv)Employee Management:Marketing managers are in charge of the marketing department and therefore are responsible for employees within their department.
v)Identifying New Business Opportunities: Marketing managers analyze market trends with an aim of identifying unexploited or new markets for the organization's products and services.
6b)
i)Respond as quickly as possible:One of the biggest factors in good customer service is speed, especially when a client is requesting something that’s time sensitive.
ii)Know your customers: Great interactions begin with knowing your customers wants and needs.Customers love personalization.Get to know your customers, remember their names and previous conversations.
iii)Fix your mistakes: Not taking responsibility of your mistakes is a sure fire way to getting a bad reputation. Transparency is important in business and customer service is no different.
iv)Go the extra mile: Going the extra mile will not only result in an indebted and happy customer, it can also go a long way in terms of keeping yourself on their radar for future business.
v)Think long term – A customer is for
life: Think long term when dealing with customers. By keeping customers happy, they will be loyal and through word of mouth, will do the mark