Marketing

1. a.What is the most common definition of merchandising? Suggested help: merchandise is the process by which companies determine what products or services whitethorn be of interest to guests, and the strategy to use in sales, communications and lineage development. It is an integrated process through which companies create apprise for customers and build strong customer relationships in array to beat value from customers in return. Marketing is used to identify the customer, to nurture the customer, and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. The evolution of marketing was caused due to mature markets and overcapacities in the stand firm 2-3 centuries. Companies then shifted the focus from production to the customer in order to stay profitable. b. Marketing people are involved in marketing various types of entities. Briefly characterize those entities and give examples.

(20marks) Suggested Answer: The types of entities that marketing people are involved in marketing are (1) goodsâ€"physical goods, (2) servicesâ€"hotels and car rental, (3) eventsâ€"time-based events such as trade shows, (4) experiencesâ€"Walt Disneys Magic Kingdom, (5) personsâ€"celebrity marketing, (6) placesâ€"cities, states, regions, and even satisfying nations, (7) propertiesâ€"intangible rights of ownership of either real property or financial property, (8) organizationsâ€"corporate identity, (9) informationâ€"information produced and marketed as a product, and (10) ideasâ€"marketing the basic idea of a market offering. mind 2 2. Marketing has been described being both an art and a science. Discuss the differences and similarities between these two marketing thrusts. Suggested Answer: scientifically the marketer must use data to understand customer needs and translate this understanding into properly designed products and... If you inadequacy to get a full essay, order it on our website: Orderessay

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