MARKETING OBJECTIVE AND ESSAY QUESTION AND ANSWER NOW AVAILABLE

Verify marketing Obj.
1 – 10 D A C C B A D B D A
11 – 20 A C B D B B A C A B
21 – 30 D A D D D C D B D C
31 – 40 B C A D D D C B D A
41 – 50 B A D A C B C D B A
1)A niche market is the subset of the
market on which a specific product is
focused.
The
market niche defines the product features
aimed
at satisfying specific market needs, as well as the
price
range, production quality and the
demographics that is
intended to impact.
while
Mass marketing is a market coverage strategy in
which
a firm decides to ignore market
segment differences and appeal the whole
market with
one offer or one strategy.
1b).Mass marketing has to do with selling
ordinary things to very large numbers of
people at
quite cheap prices.
Businesses can get
high volume
sales but at a fairly low profit margin meaning that
there is little difference between what it
costs to make
the product and what the business can sell
for it. But
in Niche marketing the marketers serve specialist
consumersandthis can give high profit
margins. Small
businesses are especially suited
tonichemarketing.
2.Niche marketing targets a smaller market in
which
there is a particular focus on which group
the firm
wishes to concentrate on. In most
cases,nichemarketingfocuses on markets
that are not reached by mainstream providers. On
the
other
hand mass marketing deals with big
numbersandan even
bigger community. If a mass marketer
targets parents, anichemarketer will go smaller,
targeting
the more
specific group of single parents.
3.Inmassmarketing, the focus is normally
on attracting
as many customers as possible. While
innichemarketingit is all about getting that
particular
group of society to like your product.
4.Massmarketinguses expensive forms of
media to
reach out to the people.Massmarketingfirms spend
a
lot of money on advertising on
radio and television. As
fornichemarketingtheir budget is not wide
enough to
support mainstream media advertising. The most
common way of advertising for them is
through the
internet. Examples would be through e-
mails. They
could also use magazine advertising but this would
be
on a very small scale such as trade
journals.
5.Massmarketers focus on high sales at
low prices
while nichemarketers focus on high sales at high
prices.
But most times the result is low sales at
very high
prices. In Nichemarketingthe product is
tailor-made for
customers while inMassmarketingthe product is for
the
general public
2a)Marketing research is “the process or
set of processes that links the consumers,
customers,
and end users to the marketer through
information — information used to identify
and define marketing opportunities and
problems;
generate, refine, and evaluate marketing
actions;
monitor marketing performance; and
improve understanding of marketing as a process.
3a)Outdoor advertising, therefore, is
focused on
marketing to consumers when they are
“on the
go” in public places, in transit, waiting
(such as in a medical office), and/or in specific
commercial
locations (such as in a retail venue).
Outdoor
advertising formats fall into four main
categories: billboards, street furniture, transit, and
alternative.
5)1. Industrial Products Defined Industrial
p roducts are those used during
the production process to make other
goods. Examples of such goods are
hammers used by blacksmiths; factories,
and assembly lines. Such goods help workers
process raw materials into the final
product. They are
available for sale only through
specialized merchants, as the public does
not need such products; consumer needs are
fulfilled by the so-called consumer goods.
*2). Industrial
Goods Produce Value With the use of
industrial goods,
workers of an industry process raw materials and
create
a final product more valuable that its initial
materials. For instance, a piece of raw
wood
is far cheaper than a carved wooden birdhouse.
Labor in general and industrial
goods’ use
in particular produce new value,
which constitutes the basis of industrial
production’s profitability. This is because
profits are based on the fact that a piece of plastic,
for example, worth $5 can become

through the use of industrial goods
— a
satellite
receiver costing $30.
* 3). Consumer Goods Consumer goods, otherwise
called final
products, are the result of the production
process. They don’t assist production; they
are production. Shampoos, shoes, frozen
meals, cars and cellphones are all
consumer goods. The purpose of consumer goods is
to satisfy a
specific need of consumers directly.
Consumer goods are divided into durable
products, those that consumers can use
for years, such as cars, books and furniture,
and
nondurable products, including food,
batteries and clothes.
*4). Consumer Goods Bring Profit
Industrial goods create new value by assisting the
processing of raw materials,
but
this does not mean that the industry
automatically earns money for that.
Instead,
what brings profit to the industry is the sale
of consumer products. The higher the
number of
products sold, the larger the
income for an industry. For this purpose,
marketing a final product to lure consumers
is a highly important activity in modern
business.

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