EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 8220103613774
Author: Armstrong
Publisher: YUZU
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Chapter 20, Problem 20.22MML
Summary Introduction
To discuss: The way the
The company’s activities, which is connected with purchasing and selling a service or product is referred as marketing. It consists of selling, delivering, and advertising of products to the people.
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- explain How does internal marketing impact company culture, and how can companies ensure that their internal marketing efforts align with their cultural values?arrow_forwardA company’s marketing environment consists of actors and forces outside the company that affect marketing management’s ability to develop and keep successful transactions with its target customers. The environment today is changing very quickly, and it is difficult to predict what the future will bring. It is important therefor to monitor the market environment and, if necessary, change the marketing plan to meet new opportunities or threats. It is dangerous for the life of the company to ignore what is going on in the environment. (i). Identify the two main forces and explain how each affects companies marketing efforts to survive in business environment.arrow_forwardThis is a marketing question:arrow_forward
- What criteria or elements would a company take into account when assessing the appeal or viability of entering a new market?arrow_forwardHow does the level of market concentration and the number of competitors in a given industry impact the intensity of competition, and what are the implications for firms' marketing strategies?arrow_forwardThe characters and factors outside of marketing that have an impact on a company's capacity to develop and sustain successful relationships with target customers are referred to as the marketing environment. Since they are in charge of making the relationship between the company and its customers a reality, marketers in this case more than any other group in the organization must be environmental trend analysts and opportunity seekers. Therefore, go into detail about the many macro and micro actors in the marketing environment. Justify your arguments regarding each of the variables under each category by describing how they will affect the firm's marketing decisions related to the satisfaction of target audiences' needs. You should also elaborate on your arguments by describing a solution to mitigate the impact that these actors (from the marketing environment) will have on the firm's overall marketing activities. And give Ethiopian based examplesarrow_forward
- A marketing system should sense, serve, and satisfy consumer needs while also improving the quality of their lives. Marketers may take actions by understanding customer needs and organizational practices, therefore marketing is currently facing many criticisms. Some of them are justified, while others are not. Certain marketing practises according to social critics, harm individual, consumers, and society as a whole, how to formulate this situation?arrow_forwardWhat does the term technology mean to you? Dothe benefits of technology outweigh its costs andpotential dangers? Defend your answerarrow_forwardDoes marketing merely reflect the needs and wants of consumers?arrow_forward
- Business markets have several characteristics that differ from the consumer market. Distinguish these different characteristics?arrow_forwardMarket share is “an indicator of how well a firm is doing against its competitors.Competition is a situation in the business environment where several businesses with more or less the same products / services compete for the support of the same consumers or customer segments. The development of competition is one of the main reasons that has resulted in the development and evolvement of the field of marketing. As the world grows smaller, more businesses are established and consequently spread themselves to all parts of the world, creating an even greater challenge for the art and science of marketing and its stakeholders.Using the above statement as your basis, and a company of your choice as an example, critically discuss why it is important that marketers study the business environment within which they operate, including their competitors.arrow_forwardExplain the process that a marketer can use to ensure that marketing strategies, approaches and the marketing mix meet legal and ethical requirements. Provide an example to illustrate your response.arrow_forward
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