MARKETING
A FACTOR TO BE CONSIDERED IRRESPECTIVE OF THE CHOICE OF A MODE OF TRANSPORTING GOODS IS THE
A. Price of the goods. B. Nature of the goods ✓ C. Brand of the goods. D. Packaging of the goods When deciding on the mode of transporting goods, several factors need to be taken into consideration to ensure the safe and…
A MERCHANDISER IS THE INDIVIDUAL WHO IS RESPONSIBLE FOR THE
A. security of goods in the retail store B. quality control of goods produced C. availability of products at the right position in the retail store ✓ D. advertising of products on television A merchandiser is primarily responsible for…
MERCHANDISING IS BEST SUITED FOR
A. Consumer goods ✓ B. primary products C. industrial services D. organizational products Merchandising is a marketing strategy that involves promoting and selling products to customers. It is primarily focused on consumer goods, which are tangible products intended for personal use by…
ONE OF THE RULES THAT GUIDES INTERNATIONAL MARKETING IS
A. import restriction ✓ B. memorandum of association C. company’s annual report D. articles of association In the context of international marketing, one of the key rules that guide businesses is import restrictions. Import restrictions refer to the regulations and limitations imposed by…
AN ELEMENT OF THE MARKETING MIX IS
A. Processes B. Place ✓ C. Packaging D. Production Place, also known as distribution, refers to the process of making a product or service available for consumption or use by the target market. It involves decisions related to the distribution channels, logistics,…
AN ELEMENT OF THE EXTERNAL MARKETING ENVIRONMENT IS
A. Organizational policy B. Company procedures C. Corporate culture D. Economic indices ✓ Economic indices encompass various economic conditions in the external environment, such as inflation rates, unemployment rates, exchange rates, and interest rates. These factors play a crucial role in influencing…
A REDUCTION IN GENERAL PERSONAL INCOME WHICH LEADS TO A CHANGE IN A COMPANY’S PRICING STRATEGY IS AN ELEMENT OF THE
A. Competitive environment B. Political environment C. Economic environment ✓ D. Technological environment A reduction in general personal income that leads to a change in a company’s pricing strategy is an element of the economic environment. The economic environment encompasses factors such…
A PRICING STRATEGY IN WHICH THE BUYER AND SELLER BARGAIN TO REACH AN AGREEMENT ON THE PRICE OF A PRODUCT IS
A. Cost-plus B. Haggling ✓ C. Skimming pricing D. Penetration pricing Haggling is the pricing strategy in which the buyer and seller negotiate to reach an agreement on the price of a product. This method involves a back-and-forth discussion between the two…
MARKETING ETHICS
For a marketer to effectively carry out his social responsibilities and develop the business environment, he is to adhere to certain moral issues in business decision making which are termed marketing ethics. The dangers inherent in the neglect of social…
MARKETING ENVIRONMENT
A company’s marketing environment is made up of actors and forces that affect the company’s ability to develop and maintain successful transactions and relationships with its target customers. Various environmental forces influence an organization’s marketing system. Some are external to…
THE CONSUMER DECISION MAKING PROCESS
A) PROBLEM RECOGNITION Figure shows that the first stage in the consumer decision-making process is problem recognition, which occurs when the consumer perceives a need and becomes motivated to solve the problem. The problem recognition stage initiates the subsequent decision…
BUYING MOTIVES
To better understand the reasons underlying consumer purchases, marketers devote considerable attention to examining buying motives-that is, those factors that compel a consumer to buy a particular brand. This because they are aware that consumers do not buy products. Instead…
MARKET SEGMENTATION
Perhaps the most important marketing decision a firm makes is the selection of one or more market segments on which to focus. A market segment is a portion of larger market whose needs differ somewhat from the larger market. Since…
THE CONCEPT OF BRANDING
The American Marketing Association defines a brand as a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those…
MARKETING OF SERVICES
As consumers, we use services every day. Turning on a light, watching TV, talking on the telephone, catching a bus, visiting the dentist, posting a letter, getting a haircut, refuelling a car, writing a cheque or sending clothes to the…
PURCHASE, SUPPLIES AND MERCHANDISING OF GOODS AND SERVICES
Marketing business is all about purchasing goods from manufacturer and making them available to consumers. Marketing outlet exist to bridge the gap between the manufacturer and the consumer by providing total marketing solutions to their clients. They purchase goods from…
PLANNING FOR PERSONAL MARKETING OUTLET
Marketing is critical for organic growth of a business and its central role is creating, communicating, capturing and sustaining value for an organization. Marketing helps organisations in creating value for better understanding of the needs of its customers and providing…
APPLICATION OF ICT IN INTERNATIONAL MARKETING
Marketing is a very broad ranging discipline which is undergoing radical changes. The approach is adopted by Marketing managers in the 21st century is conditioned by the deep social and cultural changes that we are going through at the end…
ORGANIZING FOR INTERNATIONAL MARKETING
KEY APPROACHES TO ENTERING INTERNATIONAL MARKET International marketing can be a great way to grow a company, but it also entails risk. Any entrepreneur looking forward to expand into foreign markets must first gather information, prepare an export plan and…
INTERNATIONAL MARKETING
At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. It is the total system of business activities designed to plan, price, promote and distribute goods and services to potential…
MARKETING OF MINERAL PRODUCTS
Mineral means a non-living substance that is formed by natural processes and is found on or under the surface of the ground. Mineral product means a product that is derived from a mineral or group of minerals The salt that…
FACILITATORS
Because marketing functions require significant expertise, it is often both efficient and effective for an organization to use the assistance of independent marketing facilitators. These are organizations and consultants whose sole or primary responsibility is to handle marketing functions. In…
STRUCTURES AND MARKET UNION INVOLVEMENT FOR SALES OF GOODS
A primary product is the least-processed form of a biological material that humans harvest for use. There is a difference between the raw product, which is all the biomass produced in a given area, and the primary product, which is…
WAREHOUSING
We need different types of goods in our day-to-day life. We may buy some of these items in bulk and store them in our house. Similarly, businessmen also need a variety of goods for their use. Some of them may…
TRANSPORTATION
Transportation has to do with the movement of products from a source such as a plant, factory, or workshop to a destination such as a warehouse, customer, or retail store. Transportation may take place via air, water, rail, road, pipeline,…
DISTRIBUTION
Distribution is the process of making a product or service available for use or consumption by a producer or business provider. It is the movement of goods and services from the source through a distribution channel, right up to the…
MERCHANDISING
Merchandise means goods bought and sold or trading of goods. Merchandising is an activity of selling and promoting particular goods. Merchandising is a branch of marketing theory and practice concerned with maximizing product sales by designing, packaging, pricing, and displaying…
PROMOTION
Promotion is an element of marketing mix. It consist of all communication efforts aimed at generating sales and or building a favourable attitude for an organisation and its goods or services. Promotion is no longer enough for a business to…
ADVERTISING
Advertising is any form of non- personal communication through the mass media that is paid for by an identified sponsor. It is a kind of media used to inform people about an idea, product, or service. Advertising can also be…
PRICING
Price is the sum or amount of money at which a thing is valued, or the value which a seller sets on his goods in the market; that for which something is bought or sold, or offered for sale; equivalent…
MARKETING PLANNING PROCESS AND RESEARCH
A marketing plan outlines the specific actions you intend to carry out to impress potential customers and clients of your product and/or service and persuade them to buy the product and/or services you offer. A marketing plan may be developed…
CONSUMER AND ORGANIZATIONAL BEHAVIOUR
Consumer behaviour is the study of individuals,groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and…
MARKET
A market is simply a combination of buyers and sellers. These two groups can meet in a physical place (a shop, for example) or can meet across miles, aided by telecommunications (increasingly, the internet). They meet to buy and sell…
MARKETING ACTIVITIES
Marketing activities also include behind the scenes tasks, like market research and planning. These marketing activities include all the various ways that companies, government entities, nonprofit organizations and cities communicate the intended message. Marketing activities are the actions that ultimately…
MARKETING MIX
“Marketing mix” is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market.Marketing mix is often synonymous with the four Ps: price, product,…
PRODUCT
MEANING OF PRODUCT In marketing, a product is anything that can be offered to a market that might satisfy a want or need. A product is good, idea, method, information, object or service created as a result of a process…
MARKETING CONCEPTS
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 consumers. This philosophy regards a genuine…
INTRODUCTION TO MARKETING
Marketing, can be defined as the process communicating the value of a product or service to customers. Marketing is also the process by which companies create customer interest in products or services. It is an integrated process through which companies…
