Let the answers be brief and accurate in high school English standard not too mu

Question

Let the answers be brief and accurate in high school English standard not too much grammar or long discussion.

CONFIDENTIAL FEBRUARY 2016/SET B/MKT4013 QUESTION 4 a) Wholesalers add value by performing one or more channel functions. Explain EIGHT (8) functions of wholesalers involved in selling goods and services for resale or business use (16 marks) b)Discuss THREE (3) characteristics of retail operations. (9 marks) QUESTION 5 a) An advertising objective is a specific communication task to be accomplished with a specfic target audience during a specific period of time. Define advertising and describe THREE (3) major advertising objectives that help to build customer relationships by communicating customer value. (11 marks) b) Marketers knows that Facebook is a force to be reckoned with, but until now they your opinion, compare the current trends of using Facebook with traditional advertising (14 marks) have not been able to measure that force and compare it to traditional media. In media expenditures QUESTION 6 a) Discuss FOUR (4) strategies how companies adjust their prices based on different (14 marks) b Companies today face a fierce and fast-changing pricing environment. Define price (11 marks) types of customers and situations and explain THREE (3) internal factors that affect pricing decision. (TOTAL: 100 MARKS) END OF QUESTION PAPER Scanned by CamScanner

Explanation / Answer

A: Eight functions of wholesalers are:

1: Buying and Assembling

2:Warehousing

3: Grading & Pakcaging of goods

4:Transportation

5: Financing

6: Providing sufficient marketing information

7:Risk bearing

8:Dispersion of goods

b: The major three charectersitcs of retail operations are

Marketing Orientation: which deals with dynamics of market and adapt to the necessary changes

Multi channel utilisation: The retailers use multichannels for distribution / selling their products such brick and mortat, e-commerce . The scale of operations is designed based on the type of customers.

Innovative methods for thinking and planning: New ideas are generated inroder to optimise their requirement and enhance the sales of product,. Liquidation, cutomsr loyalty, allied service programs where they promote their products through attractive offers without losing much of their margins.

Question 5

a: Three main objectives of advertising are : Promotion of products to the customers at the right time, Enhacing reach of the product and boostup the sales of the product and it helps in keeping the continuity or making customers loyal to the product by creating awareness about the variants of product and newly added features.

b Facebook is a mass media where products and service can be advertised through proper segmentation of users. Unlike other media where they expediture for promotion is very high and will ended up spending more because they have to circulate the same advertisement in multiple sources of media. Facebook they can promote through social media optimisation way where users get advertisement on their facebook timlines, recommendation on facebook group etc. The effectivenss can also be evaluted based on the followers and ratio of effective conversion from the sales figures.

Question 6

a: Pricing strategies are of following types

1: Psychological pricing:In this the marketers want the customers to attratc their product through emotion which drives their purchasing behavior.for eg: Pricing at $0.99 kind of figures attract customers very strongly.

2:Economical Pricing:This is akind of no frill low price. Cost of marketing and all kind of promotion are kept lower.eg:In super markets they have economy product which is a kind of replacement for branded one.

3:Penetrtation pricing:This is used for market entry where competition is high. Thus low price is offered to attract customers and make them to switch their brand.The main intention is to grab lareg number of customers within shorrt time.

4: Price skimming :Charging higher price for gaining competitve advantage. They offer high value services or features in their products that feel for customers like having a proude moment of purchase eg:

b: Three internal factors affecting pricing decisions are:

a: Marketing objective: The main objective is to drive the sales or to enhance the revenue quickly. Based on the that price will be fixed.

b: Cost of the product ( landing cost ): Pricing depends on the investment made for the product to reach the customer.

c; Organisation values : Some companies are highly money motivated and some are socially well aligned where they focus on less margin and more value to the customers and society.

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