Group A

Question 1

Define market.

Answer 1

A market is a particular place where all the buyers and sellers meet to buy and sell goods and services. In other words, number of customers and sellers who is in need, has interest, source means and wish to take part in transaction is market.

Question 2

What are the fundamentals of marketing?

Answer 2

The fundamentals of marketing are:
Target marketing, integrated marketing, customer oriented, profitability

Question 3

What are the steps of organizational buying process?

Answer 3

The steps of organizational buying process are:
Problem recognition, general need description, product specification, supplier search and evaluation, proposal solicitation, selection of supplier, placing the purchase order, post purchase evaluation.

Question 4

Define internal marketing.

Answer 4

Internal marketing refers to the marketing conducted by a company in which the target audience is the company’s employees. It’s purpose is to improve employee experience, increase employee faithfulness, and enhance engagement to develop a successful business.

Question 5

What are the market research process?

Answer 5

The market research process are:
Define the problem, develop research objectives, design the research study, plan the sample, collect data, analyse data, interpret findings, present findings, make informed decisions and take action.

Question 6

Define proactive marketing.

Answer 6

Proactive marketing also known as predictive marketing, goes beyond the traditional marketing principles. It involves anticipating future consumer needs by on earthing latent requirements and predicting behaviour.

Question 7

Define marketing environment.

Answer 7

Marketing environment is the environment that consists of the forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

Question 8

What are the marketing mix components for service products?

Answer 8

The marketing mix components for service products are:
Product , price, place, promotion, people, process, physical evidence

Question 9

What are the reasons to use a mix channel?

Answer 9

The reasons to use a mix channel are:
broad audience reach, brand recognition and consistency, testing and learning, risk diversification, audience behaviour insights, engage different demographics, holistic customer journey

Question 10

What are the examples of sales promotion tools used in the Nepalese markets?

Answer 10

Any four examples of sales promotion tools used in the Nepalese markets are:
discount coupons, free samples, loyalty programs, fairs and exhibitions