marketing

Question 1

Marketing

Answer 1

The management process
involved in identifying, anticipating and
satisfying consumer requirements.
(right product, to the right place at the right
price and at the right time.)

Question 2

Marketing Activities

Answer 2

1. Researching the market
2. Analysing the market
3. Setting of marketing goals
4. Developing a marketing strategy

Question 3

Market Orientation

Answer 3

When a business bases its marketing mix on its perception of what the market wants

Question 4

Product Orientation

Answer 4

When a business bases its marketing mix on what the business sees as its internal strengths

Question 5

Asset-Led Marketing

Answer 5

When marketing decisions are based on the needs of the customers and the strengths of the business