At its core, marketing is meant to facilitate exchanges. As marketing managers, the most prevalent view we may take of exchange is that of our product for our customers’ money. What other exchanges may occur between marketers and customers?
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- Under which five conditions van the exchange process take place in marketing?What is the 80/20 rule as it relates to sales? What do you think is a key takeaway from this ruleOne key advantage of using mass media, such as television advertising, is the ease of effective target marketing and measuring return on investment. True or False?
- Market share is “an indicator of how well a firm is doing against its competitors.Competition is a situation in the business environment where several businesses with more or less the same products / services compete for the support of the same consumers or customer segments. The development of competition is one of the main reasons that has resulted in the development and evolvement of the field of marketing. As the world grows smaller, more businesses are established and consequently spread themselves to all parts of the world, creating an even greater challenge for the art and science of marketing and its stakeholders.Using the above statement as your basis, and a company of your choice as an example, critically discuss why it is important that marketers study the business environment within which they operate, including their competitors.After recognizing the importance and differences of industrial, reseller, government, and non-profit markets, describe in detail the distinguishing factors in the purchasing behavior of these markets. Which specific behaviors distinguishes them clearly from the ultimate consumer purchaser" Explain.What channels does the company use to promote and distribute its products or services?
- Nestle Water Multinational Company has just hired you to administer a relationship marketing program for the company. The company manufactures and distributes a purity-guaranteed, non-carbonated, bottled drinking water product to grocery and convenience stores in Punjab, Pakistan. The company desires to build strong economic and social ties to customers by promising and consistently delivering high-quality products, good service, and fair prices. To do this, Nestle wants you to build a marketing network for them. Write down your ideas on what a marketing network is, how it might relate to the concept of relationship marketing, and designate the components of what you perceive to be a marketing network for Nestle Water?What are the risks associated with backdoor (individualist) buying and selling?Why is Procurement department interested in controlling this business practice?Assume your company makes Laptop and Computer products. Make a list of all the companies that could be potential customers of your firm. Then identify all the markets from which their demand is derived. What factors might influence the success or failure of your business in these markets?