role of marketing

Question 1

what is the strategic role of marketing goods and services?

Answer 1

satisfying customer needs & wants to maximise profit

Question 2

what is relationship marekting?

Answer 2

how a business maintains customer loyalty eg. reward programs, customer care, good after sales services

Question 3

what is customer orientation?

Answer 3

basing marketing decisions on customers wants and needs

Question 4

what happens during the first stage of marketing approaches? what year?

Answer 4

1960’s to 1980’s, companys began taking consumer wants into account

Question 5

what happens during stage 2 of the marketing approach

Answer 5

larger influence of ethical changes in business

Question 6

what is the sales approach?

Answer 6

increase in competition made businesses begin to refine and target consumers

Question 7

what is the production approach?

Answer 7

no concern for customer needs/wants

Question 8

how are operations and marketing interdependant?

Answer 8

operations works with marketing by incorporating features that consumers will like

Question 9

how are human resources and marketing interdependent?

Answer 9

• HR works with relationships between owners and employers of a business, staff motivation is essential for development of products.
• employee service to consumers works as the public face of the business and influences customer satisfaction

Question 10

how is finance and marketing interdependent on each other?

Answer 10

• businesses must determine the cost it takes to produce a good/service in reference to their target market
• a product needs to be prices accurately for consumers to believe a product is worth it
• budget forecasts need to be established for promotional campaigns

Question 11

what kind of market is resource?

Answer 11

All forms of primary production, including mining, agriculture, forestry & fishing (raw resources)

Question 12

what kind of marketing is industrial?

Answer 12

Industries and businesses that purchase products to use in the production of other product. E.g., Bakeries buy flour to make bread

Question 13

what kind of market is intermediate?

Answer 13

• Consists of wholesalers and retailers who purchase finished products and sell them again to make profit eg. Salt, wheat
• Quaternary & quinary

Question 14

what kind of market is mass?

Answer 14

Large demand for a standard product, e.g., basic food items, electricity, water

Question 15

what kind of market is consumer?

Answer 15

Consist of individuals who plan to use of consume the products they buy

Question 16

what kid of market is niche?

Answer 16

A concentrated or micro market e.g., magazines alternative milk

Question 17

how has McDonalds utilised production, selling and marketing approaches?

Answer 17

McDonalds had shifted from a sales approach to a marketing approach due to growth in consumerism

Question 18

what kind of market is mcdonalds?

Answer 18

a retail business as a part of the consumer market