Earlier, marketing used to be a place for exchanging goods and services between buyers and sellers, leading to mutual benefits. Now, it has become a place of exchanging values worth related to the goods and services. The buyer will pay the amount if that good adds any value to him. Marketing management controls the distribution and structure of demand in the market. It studies the demand of customers and provides them with the services.
Marketing management includes planning, organizing, directing, controlling, and implementing marketing strategies, programs, policies, that are designed to create product reach to the potential customers which helps to increase the profit of organizations.
5 Most Frequent Tutorial Questions on Marketing Management
The field of marketing management has become such a popular course among the students that can offer them the best career opportunities. But before that, they need to get the best grades in their exams, assignments, dissertations, thesis, essays, quizzes and have to prepare sample question papers that show their level of understanding and knowledge of the subject
Below are some Tutorial Questions that Enhance their Marketing Management Concepts in a Better Way:
Explain Marketing Orientation and give differences between Selling and Marketing Orientations?
As a business owner, it is important to make out the needs of the audience, figuring out the ways to attract and convert them into long-term customers. When the organization follows the path of marketing orientation, they focus on the strategies that fulfill the demands of the customers rather than less concerned about making the highest quality products.
Selling orientation is exactly the opposite of marketing orientation. In this, firms make their product superior and do not give attention to what the customer wants. This orientation works towards inwards and attracts customers through producing fascinating products.
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What do you mean by Market Control and What are Different Types of Control Techniques, Explain Any Two of them?
Marketing control is mainly used by small and medium businesses to evaluate the performance of the company in terms of profit earned and then creating the roadmap for improvement. It helps them to identify the adjustments required in the business model that helps in preparing the guidelines for the future. Thus, helps businesses in accomplishing their set goals related to marketing and businesses.
Marketing and business firms have designed many marketing techniques over the years such as competitor analysis, customer segmentation, customer feedback, testing research, and cost analysis.
A Brief Explanation of these Techniques:
What are the Factors that Influence Consumer Behavior?
Customer is the king, hence knowing the customer’s demands and their behavior can be fruitful for the organization. Consumer behavior is highly influenced by different factors such as:
Learn about these Factors in more Detail
- Psychological Factors
- Cultural Factors
- Economic Factors
- Personal Factors
- Social Factors
Give the Process of Carrying out a Marketing Research?
While doing the market research, the firm should know what they are trying to learn from the research. It is the process of systematic collection, analysis, and interpretation of data pertaining to the marketing conditions. The main motto of marketing research is to determine the change in consumer behavior due to the change in the marketing mix which refers to product, place, price, promotion.
Steps that are Followed in Marketing Research are:
- Define the Problem
- Qualitative Research
- Data Collection through Survey, Observation, and Experimentation
- Data Analysis and Processing
- Present Findings
- Make Research-Based Decisions
- Take Corrective Action and Measures.
“Marketing Strategies Lie at the Heart of Strategic Decision Making” Explain the Statement Briefly.
Yes, marketing strategies do lie at the heart of strategic decision-making because marketing strategies include a long-term forward-looking approach with the overall goal of achieving the company’s objectives by understanding the needs and wants of the target market. There are numerous marketing strategies that companies adopt to mold their decisions strategically.
Strategic decision-making is concerned with the choice of decisions and policies that are aimed at improving the competitive position of the firm. Making systematic strategic decisions requires an approach that can cover future uncertainties.
These are some of the tutorial questions of marketing management prepared for students and the links provided with them can give you a deep understanding of the topic. If students want more information regarding marketing management, then they can visit our website EssayCorp.
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