Elements of Management I: Marketing Mix
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Questions and Answers

What is the primary function of a distribution channel?

  • To promote products to customers
  • To pass products from the producer to the customer or retailer (correct)
  • To manufacture products
  • To segment the market
  • What is the purpose of market segmentation?

  • To increase the production of a product
  • To promote products to all customers
  • To identify similar characteristics or preferences among consumers (correct)
  • To reduce the price of a product
  • What is a key role of marketing according to the text?

  • To produce products
  • To distribute products to retailers
  • To identify and satisfy customer needs (correct)
  • To promote products only
  • Why did Kodak face financial difficulties according to the case study?

    <p>Due to the rise of digital cameras</p> Signup and view all the answers

    What is a possible reason for changes in spending patterns according to the text?

    <p>Changes in population demographics</p> Signup and view all the answers

    How might Kodak have avoided financial difficulties according to the text?

    <p>By keeping in close contact with customers</p> Signup and view all the answers

    What is a key characteristic of a successful product?

    <p>It has something very distinctive that makes it look different</p> Signup and view all the answers

    What is the primary goal of promotion in the marketing mix?

    <p>To give the consumer information about the rest of the marketing mix</p> Signup and view all the answers

    Which pricing strategy would be most suitable for a new, higher-quality mobile phone?

    <p>Price skimming</p> Signup and view all the answers

    What is the main difference between 'above-the-line' and 'below-the-line' promotions?

    <p>The type of advertising used</p> Signup and view all the answers

    What is a key factor to consider when deciding on a pricing strategy for a tour operator?

    <p>The time of year the holiday is being sold</p> Signup and view all the answers

    What is the purpose of a product's design and performance in the marketing mix?

    <p>To make the product more consistent with the brand image</p> Signup and view all the answers

    What is one of the factors that leads to increased competition in markets?

    <p>Improvements in transportation</p> Signup and view all the answers

    What is the primary focus of a product-oriented business?

    <p>Production process and product quality</p> Signup and view all the answers

    What would you advise Tunde to do before starting to manufacture his new can-opening tool?

    <p>Conduct market research to assess demand</p> Signup and view all the answers

    What is a marketing strategy primarily focused on?

    <p>Achieving a particular business objective</p> Signup and view all the answers

    What is the primary role of the marketing department?

    <p>Research and promotion</p> Signup and view all the answers

    What is Tunde's business strategy, based on the information provided?

    <p>Product-oriented, as he is focusing on the production process</p> Signup and view all the answers

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