17. The Nature of Marketing (AS)

Define 'marketing objectives'. [2K]

Define 'marketing'. [2K]

Define 'industrial marketing'. [2K]

Which of these is NOT a responsibility of the marketing department?

• Product design

• Distribution

• Pricing

• Production

When the business bases its new products on its existing products and strengths, such as Apple focusing on consumer electronics - not electric heating!

• Market-led marketing

• Product-led marketing

• Asset-led marketing

• Societal marketing

This business will put the customer first and use market research to identify needs and potential demand. This information is then used to develop products that will meet this demand. These firms put a lot of focus on the market research they have acquired.

• Market-led marketing

• Product-led marketing

• Asset-led marketing

• Societal marketing

Drought in Vietnam has caused a shortage of beef for Mcdonald's restaurants. Graphically show the effect to demand and supply of a 'Big Mac'. Label your graph. [3K]

Identify one advantage of mass marketing. [1K]

Identify one disadvantage of mass marketing. [1K]

Identify one advantage of niche marketing. [1K]