Marketing Exam

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  1. Definition of Marketing
    Management process for identifying, anticipating and satisfying customers requirements profitable

    The process by which companies identify wants and in doing so produce products in exchange for a profit
  2. Functions of a Marketing Department
    Developing marketing strategies and goals

    • Identifying consumers needs
    • Identifying consumer buying behaviour
    • Market Segmentation
    • Competitive Environment
    • Forecasting and Analysing Sales
    • Monitoring effectiveness of Marketing activities
    • Advertising and Promotion
    • Public Relations
    • Product and Brand Management
    • Managing Marketing Budget
  3. B2B v B2C
    • B2B is the process by which Business sell directly to another Business
    • B2C is the process by which a Business sells to customers
  4. B2B
    A business market is all organisations that buy goods to produce other goods to resell them to consumers for profit

    • Fewer larger buyers
    • More area concentrated
    • Derived demand

    • Business purchases involve more buyers
    • More professional approach
    • Complex buying decisions
    • Formal
    • Buyers and sellers work closely
    • Long term relationships
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Marketing Exam
2013-12-04 13:40:24
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