marketing

Question 1

marketing activities

Answer 1

researching the market
analysing the market
setting of marketing goals
developing a marketing strategy

Question 2

market orientation

Answer 2

business bases its marketting mix on its perception of what the market wants

Question 3

advantages market orientation

Answer 3

1.flexible to changes in taste and fashion
2.loyal customers
3.new products designed to meet consumer needs

Question 4

disadvantages of market orientation

Answer 4

1.high cost of market research to understand the market
2.constant internal changes as needs of the market are met
3.abandonment of earlier product investment

Question 5

product orientation

Answer 5

base products or services on what it perceives as its internal strengths

Question 6

key features of product orientated approach

Answer 6

1.contact with consumer,at final stage
2.more likely to succeed when little or no competition
3.fashion and tastes are not accounted for in product mix

Question 7

advantages of product orientation

Answer 7

increased economies of scale
focus on product development
focus on quality

Question 8

disadvantages of product orientation

Answer 8

changes in market structure will not be responded to
fashion and taste not accounted in product mix