Neco 2018 Marketing (Objective and Essay) Answers – April Expo
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7a)
Distribution channel is the method a channel is defined as the path or route along which goods move from producers or manufacturers to ultimate consumers or industrial users.
7b)
i)Distribution channel is to bridge the gap between production and consumption
ii)Distribution channel is responsible for promoting the product
iii)Distribution channel involves in creating contacts for prospective buyers and maintaining liaison with existing ones
iv)Distribution channel help in understand the customer’s need and adjusting the offer accordingly
7c)
i)Nature of product
ii)Nature of market
iii)Distribution expenses
(Explanation)
i)Nature of product:-Nature of product has influence on the selection of a channel of distribution. In this case of industrial goods like machinery and equipment, the manufacturer sells direct to industrial user, but in the case of tools, sales take place through middlemen
ii)Nature of Market:-Choice of suitable channel of distribution also depends on the nature of market. Location of the market and the buying habits of buyers are also analysed
iii)Distribution expenses:-If the producer makes direct selling, he will have to spend o distribution
But, if the product gets goods respond from the dealer, a producer will prefer to sell through them to reduce his distribution expense
4a)
promotion mix describes a blend of promotional variables chosen by marketers to help a firm
reach its goals
4b)
i)Geographical coverage of method.
A firm should choose promotion method
that is most accessible to its customers.
ii)Target market.a firm should choose a promotion method that addresses specific age or gender.
iii)Cost of advertising.
The promoter should consider if the chosen
method of promotion is within his/ her
financial ability.
iv)Nature of product.
For products that require demonstration of
how they have used choice of appropriate
promotion method is necessary.
1a)
Convenience Goods: A category of consumer goods which are bought frequently, quickly and with a minimum of emotional involvement. Most are nondurable goods of low value that are frequently purchased in small quantities. Examples: include tobacco products, soaps and newspaper.
1b)
Shopping goods are purchased only after the buyer compares the products of more than one store or looks at more than one assortment of goods before making a deliberate buying decision. These goods are usually of higher value than convenience goods, bought infrequently, and are durable. Examples are clothing items, Televisions, computers
1c)
Goods which are very unique, unusual, and luxurious in nature are called specialty goods. Specialty goods have characteristics that impel consumers to make special efforts to find them. Consumers often do not consider price at all when shopping for specialty products, example include Particular types of food and expensive imported cars
1d)
Unsought goods are products that consumers do not want, use, or even think about purchasing. Unsought goods are requiring advertising and personnel selling support. Unsought shopping goods are frequently brought to customers’ attention through advertising, promotions, or chance. Sometimes they are something new on the market, such as digital telephones. examples of unsought goods are life insurance and plots.
2a)
Marketing concept is a marketing philosophy which sees the consumer or client as the central focus of all the activities of an organisation because no organisation can survive without the continued patronage of its consumer
2b)
i)Production concept:-The production concept is the idea that a firm should focus on in relation to those products that it could produce most efficiently and that the creation of a supply of low – cost products would in and of itself create the demand for the product
ii)Social Marketing Concept:-Social marketing concept embodies a higher and more enlightened plane of marketing thought and practice. The concept has an emphasis on social responsibility and suggest that for a company to only focus on exchange relationship with customers might not be in order to sustain long term success
iii)Consumer Orientation approach:-
Modern marketing concept is a concept that embraces understanding that marketing activities is consumer – oriented. This concept is very popular because the marketing activities of this concept is built on assumptions and application of thought like “More customers know what they need”.
iv)Integrated Organization effort:-While an organization becomes larger and more complex, they tend to break functions into smaller units by assigning a group of staff to specialize in these activities. This allows the organization to manage the complexity of the organization. But with time, no decision maker can take good decisions with isolated information that they get from the information of the individual departments.
5a)
Marketing
Communication
Economic
Societal Role
5b)
Advantages of Radio Advertising
-Selectivity
-Cost efficiency
-Flexibility
-Mental Imagery
Disadvantages of Radio Advertising
-Lack of a Visual Element
-Audience Fragmentation
-Limited Listener Attention
-Limited Research Data
5bii)
Advantages
i)Television reaches very large audiences: usually much larger than the audience your local newspaper reaches, and it does so during a short period of time.
ii)Since there are fewer television stations than radio stations in a given area, each TV audience is divided into much larger segments, which enables you to reach a larger, yet, more diverse audience.
iii)It has the ability to convey your message with sight, sound and motion, and can give a product or service instant validity and prominence.
iv)You can easily reach targeted audiences.
Disadvantages
i)When you advertise on TV, your commercial is not only competing with others, it is also competing with the viewer’s environment as well.
ii)Even if your commercial is being aired, viewers may never see it unless it is intrusive enough to capture their attention.
iii)A minimum amount of airtime provides limited length of exposure and ad clutter.
iv)The message comes and goes, and that’s it! Unless you buy additional time, the viewer doesn’t see your commercial again.
