2018 MARKETING ANSWERS
Monday 9th July
Paper II: Essay – marketing
2:00pm – 4:20pm
Marketing concept is a marketing philosophy which sees the consumer or client as the central focus of all the activities of an organisation because no organisation can survive without the continued patronage of its consumer
(i)Production concept:-The production concept is the idea that a firm should focus on in relation to 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 product
(ii)Social Marketing Concept:-Social marketing concept embodies a higher and more enlightened plane of marketing thought and practice. The concept has an emphasis on social responsibility and suggest that for a company to only focus on exchange relationship with customers might not be in order to sustain long term success
(iii)Consumer Orientation approach:-
Modern marketing concept is a concept that embraces understanding that marketing activities is consumer – oriented. This concept is very popular because the marketing activities of this concept is built on assumptions and application of thought like “More customers know what they need”.
(iv)Integrated Organization effort:-While an organization becomes larger and more complex, they tend to break functions into smaller units by assigning a group of staff to specialize in these activities. This allows the organization to manage the complexity of the organization. But with time, no decision maker can take good decisions with isolated information that they get from the information of the individual departments.
Advantages of Radio Advertising
Disadvantages of Radio Advertising
-Lack of a Visual Element
-Limited Listener Attention
-Limited Research Data
marketing plan is a comprehensive document that outlines a company’s overall marketing effort. It is a blueprint that that outlines how a company will implement its marketing strategy, and use a combination of resources to achieve business objectives including sales targets or customer acquisition.
distribution channel is a chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. It can include wholesalers, retailers, distributors and even the internet itself.
(1) The Nature of the Product:
These factors include physical characteristics of a product and their impact on the selection of a particular channel of distribution.
(2) The Nature of the market:
This is another factor influencing the choice of a proper channel of distribution. In the words of Lazo and Corbin “Marketing managements select channels on the basis of customer wants-how, where and under what circumstances. The number of buyers of the product affects the choice of a f channel of distribution.
(3) Government Regulations and Policies:
Government policies and regulations also influence the choice of distribution channels. The Government may impose certain restrictions on the wholesale trade of a particular product arid takeover the distribution of certain products. All these restrictions have a direct impact in selecting the channel of distribution.