Past Year Question

Powerful Essays
Topics: Marketing
Assignment 1 – Past Year Question
Question 1
a) Define marketing management.
Marketing management can be define as the analysis, planning, implementation, and control of programmes design to create, build and maintain beneficial exchanges with target buyers for the purpose of archiving organizational objectives.

b) Describe the five(5) marketing management philosophies
1. Production The philosophy that consumers will favour products that are available and highly affordable, that management should therefore focus on improving production and distribution efficiency.

2. Products The idea that consumers favor products that offer the most quality, performance and features, and that the organisation should therefore devote its energy into making continuous product improvements; a detailed version of the new product idea.

3. Selling The idea that consumers won’t buy enough of the organisations products unless the organisation undertakes a large-scale selling and promotion effort.

4. Marketing Achieving organisational goals depends on determining the needs and wants of its target market and delivering the desired satisfaction more effectively and efficiently than competitors.

5. Societal Marketing The idea that the organisation should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively and efficiently than competitors in a way that maintains or improves the consumers and society's well being.
c) Determine which of the philosophies would be suitable to manage a hypermarket store. State your reasons. The most suitable philosophies to manage hypermarket store is marketing concept. The Marketing concept holds that the key to archiving organizational goal is for the organizational to determine the needs and want of the target markets and efficiently than

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