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MARKETING OBJ
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11-20: BCBADBDDBB
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INSTRUCTION: ANSWER FOUR(4) QUESTIONS ONLY
(1a)
(i) Industrial printer (capital good/industrial product)
(ii) Packs of noodles (consumer good/fast-moving consumer good)
(1b)
(i) Purpose: The industrial printer is for business use, while the noodles are for personal/family consumption.
(ii) Nature: The printer is a capital good/durable product, whereas noodles are a fast-moving consumer good/non-durable product.
(iii) Buying behavior: The purchase of the printer likely involved careful evaluation and consideration, whereas the noodles might have been bought with less deliberation.
(iv) User: The printer is for business/organizational use, while the noodles are for personal consumption.
(1c)
(i) Problem recognition: Mr. John realized his daughter’s birthday party required snacks, and noodles were a suitable option.
(ii) Information search: He might have considered different brands, flavors, and prices of noodles.
(iii) Evaluation of alternatives: Mr. John would have weighed the pros and cons of different noodle options based on factors like taste, price, and convenience.
(iv) Purchase decision: After evaluating options, Mr. John decided to buy the packs of noodles.
(v) Post-purchase evaluation: After the purchase, he might have assessed whether the noodles met his expectations for the birthday party.
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(2a)
Sales promotion refers to short-term incentives or activities designed to stimulate sales, increase brand awareness, and drive customer engagement.
(2b)
(i) Coupon: A voucher that provides a discount or special offer on a product to encourage purchases.
(ii) Sample: A free trial of a product offered to potential customers to allow them to experience the product before buying.
(iii) Premium: A free or low-cost item given as an incentive to encourage product purchase or brand loyalty.
(iv) Contest: A competition where consumers can win prizes based on skill, luck, or participation, often to drive engagement or product trials.
(2c)
(i) Magazines reach targeted audiences based on specific interests and demographics.
(ii) Advertisements in magazines have a long shelf life, providing prolonged exposure.
(iii) Magazines feature high-quality visuals, creating attractive product showcases.
(iv) The credibility of magazines can enhance the trustworthiness of advertised brands.
(v) Magazines are effective for niche marketing by targeting specific interest groups
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(3a)
(i) Storage: Distributors store the products in warehouses to ensure they are available for retailers when needed.
(ii) Sales and Promotion: Distributors promote the products to retailers and consumers, creating awareness and encouraging sales.
(iii) Order Fulfillment: They receive orders from retailers and ensure timely delivery of the confectioneries.
(iv) Market Expansion: Distributors help expand the company’s reach by introducing the products to new regions and markets.
(v) Credit Management: Distributors may extend credit to retailers, ensuring smooth transactions and fostering business relationships.
(3b)
(i) Cost: The company would assess the cost of transportation to ensure it remains within budget while maintaining profitability.
(ii) Speed: The company must consider how quickly the products can be delivered to maintain stock availability at the distributor’s end.
(iii) Product Safety: The mode of transportation should minimize the risk of damage to the confectioneries during transit.
(iv) Distance: The distance between the company’s production facility and distributors will influence the selection of transportation (e.g., road, rail, air).
(v) Reliability: The company would choose a transportation mode with a proven track record of consistent and timely delivery.
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(4a)
A market union is an association or organization of traders who sell similar goods in a specific market, typically to promote their collective interests and rights.
(4b)
(i) Collective Bargaining: Market unions negotiate with buyers, suppliers, or government bodies to secure better prices and favorable terms for members.
(ii) Market Information: They provide valuable market information, such as trends, pricing, and demand forecasts, to help members make informed decisions.
(iii) Promotional Activities: Market unions often engage in marketing and advertising campaigns to boost the visibility and demand for their members’ products.
(iv) Advocacy and Representation: They represent their members’ interests in policy discussions, lobbying for regulations that benefit the industry or protect the rights of producers.
(4c)
(i) Protection: Packaging protects the product from damage, contamination, and environmental factors during transportation and storage.
(ii) Brand Identity: Attractive and unique packaging enhances brand recognition and creates a distinct identity in the market.
(iii) Convenience: Packaging provides convenience for consumers in terms of usage, storage, and transportation.
(iv) Information: Packaging serves as a medium for conveying important product information such as ingredients, instructions, and nutritional value.
(v) Marketing and Promotion: Packaging acts as a tool for marketing, often incorporating designs that attract attention and encourage impulse buying.
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(5a)
E-marketing refers to the use of electronic platforms, such as the internet, social media, email, and mobile apps, to promote and advertise products and services, engage with customers, and facilitate sales transactions.
(5b)
(i) Wider Reach: E-marketing allows businesses to reach a global audience, breaking geographical boundaries.
(ii) Cost-Effective: It often reduces costs associated with traditional marketing methods, such as print or TV advertising.
(iii) Targeted Marketing: E-marketing tools enable businesses to target specific demographics based on user behavior, location, and preferences.
(iv) Real-Time Interaction: Businesses can interact with customers in real time through social media or live chats, improving customer service and engagement.
(5c)
(i) Market Expansion: Engaging in international marketing allows a company to expand its customer base beyond domestic borders.
(ii) Revenue Growth: Entering new international markets can increase revenue by tapping into different economies and consumer demands.
(iii) Diversification: International marketing helps companies diversify their product offerings and mitigate risks associated with relying solely on local markets.
(iv) Competitive Advantage: Gaining a foothold in international markets can help a company establish itself ahead of competitors in emerging markets.
(v) Economies of Scale: International expansion allows a company to achieve economies of scale by increasing production and distribution across larger markets.
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(6a)
(i) Supply: Supply refers to the quantity of goods or services that producers are willing and able to offer to the market at various prices during a given period. It is the availability of products to meet consumer demand.
(ii) Wants: Wants are desires or preferences for specific products or services that are shaped by individual needs, cultural influences, and personal tastes. Unlike needs, which are basic requirements for survival, wants are non-essential and are influenced by consumer choices and lifestyle.
(6b)
WOX LTD (MARKETING AND PRODUCT CONCEPTS):
(i) Marketing Concept: Wox Ltd focuses on understanding and satisfying customer needs and preferences, ensuring that their products align with consumer desires.
(ii) Product Concept: Wox Ltd emphasizes the quality, design, and features of the product, believing that superior products will lead to customer satisfaction and sales.
MANTI LTD (PRODUCTION AND SELLING CONCEPTS):
(i) Production Concept: Manti Ltd focuses on efficient production and distribution to ensure that products are available at a low cost, believing that customers will favor products that are widely available and affordable.
(ii) Selling Concept: Manti Ltd emphasizes aggressive selling and promotional strategies to persuade customers to purchase products, assuming that consumers will not buy enough of the product without heavy marketing efforts.
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