For my marketing class assignment, -Explain each one of these in your own words
ID: 370772 • Letter: F
Question
For my marketing class assignment, -Explain each one of these in your own words (product or service; channel; target market; product or service transplanted from another country).-Reflect on one recent marketing trend you have noted (either through the media or by your own observation) and then explain.
Thank you For my marketing class assignment, -Explain each one of these in your own words (product or service; channel; target market; product or service transplanted from another country).
-Reflect on one recent marketing trend you have noted (either through the media or by your own observation) and then explain.
Thank you -Explain each one of these in your own words (product or service; channel; target market; product or service transplanted from another country).
-Reflect on one recent marketing trend you have noted (either through the media or by your own observation) and then explain.
Thank you
Explanation / Answer
Product or service - The product or service is the product that a company is willing to market to the consumers and the product or service is the one which the customers need and are willing to pay for. This product or service is produced or delivered according to the needs, demnds and specification of the customers . After having researched the market the companies produce the product which they will be able to market and sell to the target audience.
Channel- Channel is the medium through which the goods are transferred from place of production to place of consumption. It is the involvement of the organisation, people and activities which are necessary to facilitate the transfer of goods. The different of channels of marketing are direct selling, dual distributions, selling through middlemen , reverse channels .
Target market- It is the market which the producer focuses on while producing the goods and services. Trget market is the one where these goods are marketed and the consumers in the target market are willing to pay a price to fulfill the need of the required product. For example - target market for a vegetarian restaurant is the vegan customers.
product or service transplanted from another country- is the importing of certain goods and services from another country as an ancilliary good to your own production and also marketing them in your own country to the target market who is unable to access the needed products.
One marketing trend which has become vogue is the social media. A lot many companies have made strategies to market their product on social media to access the youth, to access the target market , to access the market which is internet savy and which is ready to pay a price even if slightly higher for a worthy product.
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