Question

a. what is meant by the term "Tool of marketing".

b. describe each point of tool of marketing..

c. give example of each tool as use "MCB Bank" as an example.

Answer 1

Answer 1
Tool of marketing are the tools which inform the customer about the product or services which a particular company is offering them. Marketing tools help the customer get to know what the value of the product is and additional info that might be helpful to the customers. Examples of tools of marketing a email marketing, Facebook advertisements, Google keyword planner etc.

Example of some of the tools of marketing as follows-
1. Email marketing- in email marketing the company sends the catalog of the the products and services which it is selling to the customer in which they are available. This catalog contain the detail about the product and services the company is providing and if the customer is interested in that particular product or service he or she can simply contact the company in order to get more details.
2. Facebook advertisement- Facebook advertisement is one of the cost effective way to reach the target customer. In Facebook advertisement company can target people from a particular age group which are confined to a geographical territory and have a particular area of interest. Company can promote their product through Facebook sponsored pages.
Answer 2
The different points regarding tools of marketing are as follows-
1. Companies must regularly keep adding something new so that the customer is engaged.
2. Always separate yourself from the competition in order to have a competitive advantage.
3. Companies must become a valuable resource and must keep on adding things which are valuable from the customers point of view.
4. Company must always promote the end result, so that the customers find a reason to buy the product or service.
5. Change is the biggest challenge of a business and hence the companies must adopt itself to the changing demand of the customers.
Answer 3
MCB Bank can use several marketing tools for promotion of itself. The company can engage the customers through its Facebook page. The company can keep on posting regular updates on its products and services which are launched so that the customers are aware of it. The company can also do email marketing so that the product and services are regularly updated to be customers. MCB Bank also can use outdoor advertisement so that customers can create in brand image of the bank consistent in the mind.

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