Marketing

Question 1

What is known as a market in the business industry?

Answer 1

A market is a group of people, organization/institution who interact in the process of buying and selling of goods and services.

Question 2

What is marketing?

Answer 2

The management process consists of the activities; identifying and
anticipating the needs of the consumer to satisfy.

Question 3

What is Sales Promotion?

Answer 3

Sales Promotion is a marketing strategy that is used to induce customers to buy goods immediately.

Question 4

What is advertising?

Answer 4

Advertising is the paid presentation of goods or services through the media for the purpose
of encouraging consumer patronage.

Question 5

What is the distribution?

Answer 5

Distribution refers to where and how the product reaches the market.

Question 6

What are the 4Ps in marketing?

Answer 6

Product
Promotion
Place
Pricing

Question 7

What are the marketing activities?

Answer 7

Market Research
Pricing
Packaging
Branding
Sales Promotion
Advertising 
Distribution

Question 8

Types of Advertisement Media

Answer 8

Television
Radio
Billboard
News Paper
Directories
Magazine

Question 9

List and Explain two main features of advertisement

Answer 9

 It is a paid form of communication: advertisement appears in newspaper cinema screens because the advertiser has purchased some space or time to communicate information to the prospective customers.
 Speedy and Mass Communication:
Advertising is a speedy medium of communication. Besides being speedy, its operational area is very vast. In other words, it reaches millions of people simultaneously
 Impersonal Presentation:
Advertising is the non-personal presentation of information. In other words, the advertiser and
the consumer do not come into personal contact

Identified Sponsor:
Another feature of advertising is that its sponsor can be identified. Whenever we come across
an advertisement, its sponsor is easily recognized. Obviously, its sponsor can be either the
seller or the producer of that product or service.

Question 10

List and explain the roles of the distribution chain.

Answer 10

Manufacturer- The maker of the product
Wholesaler- Sells finish product to retailers or general public in bulk
usually at a lower price
Retailer- Sells to general public usually at higher prices.
Consumer- Final link in the chain where most goods and services are
consumed

Question 11

Types of Distribution

Answer 11

Direct and Indirect

Question 12

List and state the different distributions chains

Answer 12

Chain 1- Producer - Wholesaler- Retailer- Consumer
Chain 2-Producer- Wholesaler- Consumer
Chain 3- Producer- Retailer-Consumer
Chain 4- Producer - Consumer

Question 13

Name five methods of retailing

Answer 13

Large and Small Department Stores
Supermarkets
Internet Websites eg. Wish
Auctions
Vending Machines

Question 14

List 5 types of advertising and explain three

Answer 14

Defensive
Informative
Competitive: This type aims to gain market share by telling the good points about a product
and comparing these with the competitors.
Loss leader’: This is a technique where a retailer sells a manufacturer’s product at a price
below the retailer’s purchase price (cost). This is used to attract customers into the business
place and to gain market share or penetrate a market.
Persuasive: This is aimed at persuading or convincing the consumer to buy goods or services.

Question 15

What is Personal Selling?

Answer 15

Personal selling is a presentation made by individuals representing a business to
clients to persuade them to purchase a product.

Question 16

What is Public Relations?

Answer 16

PR refers to the act of promoting an organization’s company image or promoting the corporate brand. This is done to
encourage sales or to influence investors to buy shares in order to finance business
activities.