Marketing Objective And Theory Questions And Answers.

Marketing Objective

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1a) industrial product is a good used by a company for business consumption. It is distinct from a consumable good, which is purchased by individuals for personal and family consumption.
-Example-
i)Natural product

ii)Farm Product

1b) consumer product is a product bought by final consumers for personal consumption.
-Example-
i)Convenience product

ii)Shopping product

1c) Primary products are goods that are available from cultivating raw materials without a manufacturing process.
-Example-
i)agriculture product

ii)fishing product

1d) secondary productProduct processed from raw materials that is not a primary product of the company or industry.
-Example-
i)chemical product

ii)plant/natural product

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2.)
i). Marketing Research keeps you focused on your target consumers or customers.

ii). Marketing Research helps you prioritize, so you can focus on what important.

iii). Marketing Research helps you determine which options will be most lucrative.

iv). Marketing Research gives you a competitive advantage.

v). Marketing Research helps you make better decisions and reduces risk.

vi). Marketing Research keeps you relevant and future focused.

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(4a) Transportation is the physical carriage or movements of finished products from the place of manufacturing to the place where it would be accessible and available to the largest audience either wholesalers, sales, agent, retailers and ultimately the final consumers.

(4b)
-Nearness to market

-Cost advantage

-Nature of the product

-Availabilty

-Handling

-Local conditions

(i) Nearness to market: When the market or the location of the ultimate consumer is very close to the producer, this most often determine the mode of transportation to use.

(ii) Cost advantage: Marketing firms also consider cost variables as to cheapness of carrying a product. It is a major factor that determines the selling price of a product

(iii) Nature of the product: Perishability, durability, storage, frangibility of the product. It is difficult to transport vehicles, heavy plants or machinery by air. Therefore consideration should be given to heaviness.

(iv) Availability: A choice of transportation may also depend on availability. Some mode of transport are not Available in some area. In that kind of area, the product need to key into the available means of transport by either repackaging goods or by re-modifying the transporting strategy.

(v) Handling: Some forms of transport can involve rough handling. For example, products transported by ship may be hauled aboard the vessel in a net or sling, stacked beneath dozens of other goods and subjected to moisture condensation.

(vi) Local conditions: Take a look at the country you are shipping to. Are there many risks and weaknesses in its transport infrastructure? If the local ports have a bad reputation, or the road network isn’t up to standards, You’ll need to tailor your strategy accordingly.

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(6a)
(i) personal capital

(ii) cooperative society

(iii) loan from bank

(iv) loan from friends and family

(6b)
(i) Nearest to the market; this can influence the location of new outlet considering the usefulness of the condemners

(ii) site and land: the availability of land can influence the location of new outlet

(iii) raw materials: the outlet must located close to where the raw materials can accessed easily

(iv) labour; the availability of cheap labourers can influence the location of the outlet. Labourers can be decreased

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