Question

definitions for service, distribution, and price

market segmentation, market analysis, marketing strategy, and consumer decision process

injurious consumption, need set, product position, and customer satisfaction

key communication questions

examples of external and internal influences

Answer 1

1. Service------service defined as a intangible products such as accounting, banking, cleaning, consultancy, education, insurance, expertise, medical treatment and transportantion.

2. Distribution-------distribution means to spread the product througout the marketplace . distribution is the process of making a product and service available for the consumer or business user that need it.

3. price-------- price is the quality of payment or compensation given by one party to another in return for one unit of goods and services.

4. market segmentation----------- market segmentation is one of the most efficent tools for marketers to cater to their target group. it is a process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub group of consumers based on some type of characteristics.

5. market analysis-----------market analysis is the quantative and the qualiative analysis of a market. market analysis strives to determine the attractiveness of market.

6. marketing strategy--------- marketing strategy is a overall business game plan for reaching people and turning them into customers of the product or service that the business provide.

7. consumer decision process-------- consumer decision making process include five steps like need recognition, information search, evaluation of alternatives, purchase and post purchase behaviour. these steps are helpful in guiding the marketers to understand and communicate with the consumers effectively.

8. Injurious consumption------- it is defined as a consumption that affects the ability to fulfill other needs such as financial needs, health needs and life sustaining needs.

9. Need set------- it is used to reflect the fact that most products in development economies satisfy more than one need.

10. product position------it is one of the important element of marketing plan. it is a marketing techniques intended to present products in the best possible light to different target audience. it helps the buyers and users to understand where product fits in term what it offers, and how it compare with competing products.

11. customer satisfaction---- it measures how the product and services supplied by the company meet the customer satisfaction.

12. Following are the example of external and internal influences---------

1. internal influences-------internal influence are the influence that a business has some control over it like product, location, management, resource management, and business culture.

2. External influences---------external influence are the influence that a business may ahve little or no control over it. ex----economic, financial, legal, political, institutional, technological and changes in the market.