Chapter 50, Marketing within a business environment

Question 1

Marketing objectives

Answer 1

setting objectives in order to ensure all factors are taken into account in the application of a marketing mix

Question 2

Marketing Mix

Answer 2

Product, Price, Place, and Promotion

Question 3

Advantages of Marketing Objectives

Answer 3

• motivates workers
• cost-effective
• efficient use of resources
• allows it to be evaluated

Question 4

Disadvantages of marketing objectives

Answer 4

• may overlook the consumer

- can overlook objectives of other departments is the business

Question 5

Marketing Strategies

Answer 5

takes into account business objectives, size of the business, Nature of the market, and management changes

Question 6

Globalisation

Answer 6

the integration of the countries of the world through trade ideas and culture

Question 7

Types of Marketing Strategies

Answer 7

• competitive marketing strategy
• Market leader strategies
• Market-challenger strategies
• Market follower strategies
• Niche market strategies
• Differentiation
• low-cost strategies
• Market growth policies

Question 8

SWOT Analysis

Answer 8

involves looking at the strengths, weakness, opportunities, and threats for a business in order to improve its marketing strategy