NECO2016 » Neco 2016 MARKETING Obj And Theory Answers – May/July Expo

Marketing-obj
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Marketing-Theory-Ans
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1a)Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

1b)
i)Research function: the research function of marketing is that function of marketing that enables you to generate adequate information regarding your particular market of target.
ii)Buying function: the function of buying isperformed in order to acquire quality materials for production. When you design a good product concept, you should also ensure you’re buying the essential materials for the product.
iii)Product development and management: product development is an essential function of marketing since it was the duties of the marketing department to identify what the market need or want and then design effective product based on the identified need and want of
the market.
iv)Production function: production is the
function performs by the production department. Though, this is interrelated to the department of marketing, because your product must possess the essential characteristics that can meet the target market needs and want as identified
during your market research, such characteristics as in your product Test, Form, Packaging etc.

1c)
i)it makes product to be adequately handled against damaging
ii)it involves creating opportunity for losses
iii)it aids product planning and development
iv)it collects analysis and interprinting relevant and reliable data
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