Role of Marketing

Question 1

what is marketing

Answer 1

identifying the needs of customers and fulfilling those needs to increase sales

Question 2

what are the main purposes of marketing

Answer 2

identifying and understanding customers, informing customers, and increasing sales

Question 3

what does completing market research do

Answer 3

help to find out the gender, age, income and location of the target market

Question 4

how can you inform customers

Answer 4

advertise on TV, billboards, and social media

Question 5

what is advertisement influenced by

Answer 5

how much a business can afford to advertise and who it needs to inform

Question 6

how can sales be increased

Answer 6

reducing prices, introducing new products, selling in different places, selling by different methods (online), and promotion (advertising)

Question 7

what are the 4Ps

Answer 7

price, product, place, promotion

Question 8

what are the three factors of marketing

Answer 8

finance, target market, location of potential customers

Question 9

how does finance affect marketing

Answer 9

how much finance can be spent on research and development of the new product, or an advertising campaign

Question 10

how does the target market affect marketing

Answer 10

different groups of people may require different products such as younger people responding to advertisements on social media or rich people paying high prices

Question 11

how does location of potential customers affect marketing

Answer 11

the language spoken and the region a country is in can result in different technology that can be used