MID TERM EXAM

Mid Term Exam



Mid-Term Exam

Briefly, what are the four roles of Marketing in the company?

The concept of Marketing has a lot of importance for any business organization. The function of Marketing helps the Company in promoting the business activities and also preparing strategies to attract customers towards the products and services. The four roles of Marketing in the Company are:

The promotion of the Company's products and services.

Preparing strategies and plans to attract maximum customers towards the Company's products and services.

Working to improve the public relations management in the Company.

The recruitment of the Sales and Marketing team in order to help the Company in achieving goals and objectives.

Marketing Planning:

What is the difference between “differentiation” and “positioning”?

There is a strong difference between the differentiation and positioning. The concept of differentiation states that the firm prepares a strategy to differentiate its product from the rivals' companies' product. For instance, the two famous brands known as Pepsi and Coca Cola looks very similar to each other but still they have adopted a differentiation strategy. The positioning strategy of the Company refers of the efforts made in reinforcing the Company's brand image. The positioning also refers to the Company's strategy of identifying the target market for their product and then preparing a strategy to reach out to the customers. This strategy is useful for those companies that follow a niche marketing strategy for their products and services. Therefore, these are the overall differences between the differentiation and positioning strategy.

What tool did we use to help identify differentiation?

The tool that was used to identify the differentiation is the help of a practical example of the companies following a differentiation strategy. This tool proved to be useful for the identifying the concept of differentiation.

What tool or technique is used to help identify your positioning?

The tool that was used to identify the differentiation is the help of a practical example of the companies following a positioning strategy. This tool proved to be useful for the identifying the concept of positioning.

What acronym do we use to remember the kinds of trends in the marketing environment?

There are several kinds of acronym used to remember the different trends in the marketing environment. These acronyms are important in remembering key terms.

What acronym do we use as a shorthand analysis of your company?

The acronym that is used as a shorthand analysis of the Company includes SWOT Analysis, PEST Analysis or other forms of analysis which have a lot of value for the Company.

What are the 4 P's?

The four PS in the Marketing are:

Product

Price

Promotion

Place

g. Each of the 4 P's and all of them together, must support your company's or product's what?

All of the 4P's of the Marketing Mix have a lot of value for the Company. The reason is that these 4Ps forms the basics of the Company's Marketing Plan. The 4Ps of the Marketing Mix supports the entire Company because it does not just provide benefit to the ...