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Questions and Answers
What is marketing?
What is marketing?
- Conducting market research for product development
- Identifying customers and exchanging goods and services for their satisfaction (correct)
- Promoting products through social media influencers
- Selling products directly to consumers
Who typically conducts marketing?
Who typically conducts marketing?
- Government agencies
- Market research agencies
- Retailers or manufacturers (correct)
- Dedicated marketing firms only
What are the two main categories of marketing?
What are the two main categories of marketing?
- Online and offline marketing
- B2B and B2C (correct)
- Inbound and outbound marketing
- Digital and traditional marketing
What affects the marketing mix of a product?
What affects the marketing mix of a product?
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Who decides the methods of promoting a product?
Who decides the methods of promoting a product?
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Study Notes
Understanding Marketing
- Marketing is the process of promoting and selling products, services, or ideas to a target audience.
Who Conducts Marketing?
- Typically, marketing is conducted by a company's marketing department or a marketing team.
Categories of Marketing
- The two main categories of marketing are:
- Business-to-Business (B2B) marketing, which involves selling products or services to other businesses or organizations.
- Business-to-Consumer (B2C) marketing, which involves selling products or services directly to individual consumers.
Marketing Mix
- The marketing mix of a product is affected by four key factors:
- Product (what is being sold)
- Price (how much it costs)
- Promotion (how it is advertised and promoted)
- Place (where it is sold or distributed)
Deciding Promotion Methods
- The marketing team or department decides the methods of promoting a product, including advertising, sales promotions, and public relations.
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