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Marketing Lesson Note for SS1 (First Term) 2023

Marketing lesson note for SS1 First Term is now available for free. The State and Federal Ministry of Education has recommended unified lesson notes for all secondary schools in Nigeria, in other words, all private secondary schools in Nigeria must operate with the same lesson notes based on the scheme of work for Marketing.

Marketing lesson note for SS1  First Term has been provided in detail here on schoolings.org

Marketing Lesson Note for SS1 (First Term) [year] 1

For prospective school owners, teachers, and assistant teachers, Marketing lesson note is defined as a guideline that defines the contents and structure of Marketing as a subject offered at SS level. The lesson note for Marketing for SS stage maps out in clear terms, how the topics and subtopics for a particular subject, group works and practical, discussions and assessment strategies, tests, and homework ought to be structured in order to fit in perfectly, the approved academic activities for the session.

To further emphasize the importance of this document, the curriculum for Marketing spells out the complete guide on all academic subjects in theory and practical. It is used to ensure that the learning purposes, aims, and objectives of the subject meant for that class are successfully achieved.

Marketing Lesson note for SS1 carries the same aims and objectives but might be portrayed differently based on how it is written or based on how you structure your lesson note. Check how to write lesson notes as this would help make yours unique.

The SS1 Marketing lesson note provided here is in line with the current scheme of work hence, would go a long way in not just helping the teachers in carefully breaking down the subject, topics, and subtopics but also, devising more practical ways of achieving the aim and objective of the subject.

The sudden increase in the search for SS1 Marketing lesson note for First Term is expected because every term, tutors are in need of a robust lesson note that carries all topics in the curriculum as this would go a long way in preparing students for the West African Secondary Examination.

This post is quite a lengthy one as it provides in full detail, the Marketing-approved lesson note for all topics and sub-topics in Marketing as a subject offered in SS1.

Please note that Marketing lesson note for SS1 provided here for First Term is approved by the Ministry of Education based on the scheme of work.

I made it free for tutors, parents, guardians, and students who want to read ahead of what is being taught in class.

SS1 Marketing Lesson Note (First Term) 2023

SS1 FIRST TERM MARKETING LESSON NOTE

 

üIntroduction to Marketing

üIntroduction to Marketing continued

üIntroduction to Marketing continues

üIntroduction to Marketing continued

üMarketing Concepts

üMarketing Concept continued.

üFirst Term Mid-Term Assessment

üMarket Segmentation

üClassification of Product

üMarketing Mix (4ps)

üMarketing Mix (Cont.)

üMarketing Mix (Cont.) 2

üWhat Market do1

üFirst Term Final Assessment

 

 

WEEK 1

Introduction to Marketing

Performance Objectives

Students should be able to explain:

  1. Meaning of marketing

Content

  1. Meaning of Marketing

Meaning of Marketing

Marketing is life, this connotes that everything man does on earth revolves around marketing. When a man’s need is met with the exchange of what the partner possesses, then marketing has taken place. Marketing starts from and with the identification of felt need and satisfaction if such at a profit.

Scholar around the world has defined marketing as follows:

According to the American Marketing Association(AMA); “Marketing is the performance of business activities that direct the flow of goods and services from the producers to consumers or end-users”.

According to Boone and Kurtz “Marketing involves analysing customer needs, securing information needed to design and produce goods or services that match buyers expectations, and creating and maintaining relationships with customers and suppliers “.

According to the Institute of Marketing London “Marketing is the management process responsible for identifying, anticipating and satisfying consumer requirements profitably”.

The principle of marketing is anchored on exchange and marketing creates the exchange process through the performance of the following activities: buying, selling, transportation, storing, financing, risk talking, standardization and grading, obtaining market information.

The marketing concept is said to be based on three fundamental principles which are:

  1. Identifying and satisfaction of consumer needs.
  2. Satisfaction of consumer needs through an integrative effort;

iii. Focus on long term objectives as opposed to short- term success.

It is essential to note that marketing is not the same as selling. Marketing is macro while selling is micro, that is, marketing begins at the period when a man decides to satisfy his needs and wants with an exchange.

 

 

WEEK 2

Introduction to Marketing continued

Performance Objectives

Students should be able to explain:

  1. Meaning of:
  2. needs,
  3. wants,

iii. demands,

  1. products,
  2. exchange transactions
  3. Markets and Marketing management.

Content

  1. Marketing terms
  2. needs,
  3. wants,

iii. demands,

  1. products,
  2. exchange
  3. transactions
  4. Markets and Marketing management.

Definition of Marketing Terms

Marketing terms are referred to as technical words, jargons or professional expressions or statements or symbols generally recognised by marketing professionals. The following among others are marketing terms:

(i) Need: Need is essential, not extravagant. Need is basic and is a state of felt deprivation of some basic satisfaction. Need is immediate, necessity, urgent, they are pressing. The point is that a person may not need what he wants but may want what he needs.

(ii) Wants: Wants are desires, expectations, wish, cravings, affection and most often extravagant. They are not immediate nor necessity as needs. For instance, the need for school sandals against want for the expensive and extravagant designer shoe.

iii. Demands: In economics term, demand means the quantity of a commodity that a consumer is willing to buy and able to buy at a given price and at a particular time. Wants without a purchasing power and willingness to part with funds to satisfy it is not a demand but a gift.

  1. Products: Products connotes anything that can be offered to someone to satisfy a need or want. It is what is given in exchange for something. Products are both tangible and intangible, visible or invisible. Tangible products are what can be seen such as a textbook, car, school uniforms etc. While intangible products are services such as teaching, laundry services, banking transactions. Services are consumed as they are produced while products can be stored in inventory.
  2. Exchange: This is the commodity or something given to get something. It can be in form of money, time, talents, resources, materials etc. and before the advent of money, there was trade by barter. Trade by barter simply means exchange of what someone has with or to get what other does not have.
  3. Transaction: This connotes negotiations, business dealing and management. This is the process of what transpires between a client and service provider, a buyer and seller, a retailer and wholesaler, a teacher and a student.

vii. Market: This comprises all the potential customers who are in need or want of a particular product or item or people who are willing and able to engage in a business transaction in exchange to satisfy the need and want.

viii. Marketing: It is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.

ix: Utility: It is the consumer’s estimate of the products overall capacity to satisfy felt needs. This can be in term of grading of the product from the most need satisfying to the least need satisfying. It is the maximum satisfaction derived from the consumption of a product by the consumer.

  1. Value: This refers to the perceived rating of the product offer for the price and this also connotes the degree of satisfaction derived from the consumption of a product viz-a-viz the amount paid to exchange the product. There must be a principle of equity and fairness in value, utility and exchange.
  2. Marketing management: It is the analysis, planning, implementation and control of programmes designed to create and maintain beneficial exchange and relationships with the target market for the purpose of achieving the organisational objective(s)

 

 

WEEK 3

Introduction to Marketing continues

Performance Objectives

Students should be able to:

  1. List functions of marketing system
  2. Explain maximize consumption
  3. Explain maximize consumer satisfaction
  4. Explain maximize choice
  5. Explain maximize life quality
  6. Explain maximize profit

Content

  1. functions of the marketing system
  2. maximize consumption
  3. maximize consumer satisfaction
  4. maximize choice
  5. maximize life quality
  6. maximize profit

Functions of Marketing

The following are the functions of Marketing:

  1. Maximize consumption
  2. Maximize consumer satisfaction
  3. Maximize choice
  4. Maximize life quality
  5. Maximize profit
  6. Maximise consumption: This concept connotes that marketing job should be to stimulate, enhance and increase consumption which will, in turn, create consumption, which will in turn yield to maximum production, employment and wealth creation. This is based on the marketing philosophy or ideology that the more people buy and consume, the happier they become.
  7. Maximise consumer satisfaction: According to Kotler and Armstrong, this concept relates to maximizing consumer satisfaction and not consumption i.e satisfaction people get from consuming certain goods such as status goods depends on few other people having these goods.
  8. Maximise choice: This function philosophy opines that some marketers believe that the goal of a marketing system should be to maximize product variety and consumer choice.
  9. Maximise life quality: This concept views that quality of life is a worthwhile goal for the marketing system but they recognise that it is not easy to measure and that it means different things to different people. Kotler and Armstrong’s view is that goal of a marketing system should be to improve the quality of life, quality of the physical environment and the quality of the cultural environment.
  10. Maximise profit: This means that marketers meet the needs and want of the consumer at a profit i.e profit to make is pivotal to meeting the needs of the people. The target of a producer/manufacturer is profit.

WEEK 4

Introduction to Marketing continued

Performance Objectives

Students should be able to explain:

  1. History of marketing in Nigeria.
  2. colonial age 100AD to 1860
  3. Colonial-era 1860-1960.

iii. Post-independence Age 1960 to date

Content

  1. History of marketing in Nigeria.
  2. Colonial age 100AD to 1860
  3. Colonial era 1860-1960.

iii. Post-independence Age 1960 to date

 

History of Marketing in Nigeria

The whole history of marketing in the country can be divided into three main eras: the pre-colonial era, the colonial era and the post-independence era.

Before we jump into the history of marketing, let’s quickly define what marketing actually is. According to its short definition, it is the management and study of exchange relationships. It is used in order to create, keep and satisfy customers. The consumer is actually the main focus of marketing, as everything revolves around them and their needs.

Even though the concept itself emerged in the 1950s, what we know today as marketing has existed since the first exchange of goods and services. So let’s look closer at the history of marketing over the years with a special focus on Nigeria.

The pre-colonial era, which lasted from the dawn of time until 1860, can be called the age of simple trade. What was available was mostly harvested by hand and had a very limited supply. Economic activity was focused around the trade in resources and exploration.

The main form of money was usually cowries, although other forms were also available. Apart from regular trade, there was also barter, which was actually more prominent in the era. Exchange of goods for other goods prevailed over the exchange of goods for money.

During the colonial era (1860-1960), production era came to replace the simple trade era. Thanks to the emergence of mass production, product option available in the market place has significantly increased. Several regions specialised in mass production of certain products, such as groundnut, palm oil and cocoa.

Consumer demand became more saturated. Businesses had strong competition, so they could not just easily sell their products to consumers. In order to do that, they had to work harder, and think of ways of making their products more attractive to the consumers if they wanted to win against the competition.

With the arrival of the post-independence era after 1960, companies realised that they could no longer use the old marketing models to sell their products. During this era, businesses decided to consolidate their marketing-related activities, including public relations, sales promotion and advertising, and create a single department. They finally realised that marketing was the thing that kept business alive.

In the post-independence days, businesses came to terms with the idea that they should be doing their best to cater to their consumers, as consumers’ needs were the most important thing when it came to selling products. Marketing was no longer compartmentalised, it actually became the goal of the business. This was the time when the customer became the king, and all employees became involved in the marketing effort, directly or indirectly.

Over the years, Nigeria also saw the arrival of relationship marketing. Its main idea is that the relationship with a customer is very important. A mutually beneficial long-term relationship built on trust is at the core of relationship marketing.

Alongside the aforementioned relationship, marketing exists another era of marketing. The development of technologies resulted in the emergence of mobile/social marketing era. It focuses on social exchanges and connections between the consumer and business in real-time. During this era, this connection is active pretty much 24/7, where the businesses can connect to potential and existing consumers at any time they want and vice versa.

As the post-independence era does not yet have an end date, it can be said that Nigeria is currently living in the age of mobile/social and relationship marketing. Customers are still considered kings and all efforts go to satisfy their needs. And with the help of technology, businesses and consumers can stay in touch and build their relationship 24/7

 

WEEK 5

Marketing Concepts

Performance Objectives

Students should be able to explain:

1.Concepts under which organization conduct marketing activities.

  1. The production concept
  2. The product concept
  3. The selling concept

Content

  1. Concepts under which organization conduct marketing activities.
  2. The production concept
  3. The product concept
  4. The selling concept

Marketing Concepts

The following scholars view the marketing concept as reproduced below:

Keith (1960): “a managerial philosophy concerned with the mobilization, utilisation and control of total corporate effort for the purpose of helping consumers solve selected problems in ways compatible with the planned enhancement of the profit position of the firm”.

Baker (1974): “the customers want satisfaction is the economic and social justification of a company’s existence under marketing, the customer becomes the fulcrum, the pivot about which the business moves in operating for the balance test/interest of all concerned “.

Modern (1991): ” marketing concept is the most important managerial task within the organisation is that of understanding the needs and wants of customers in the market and of adapting the operations of the organisation to deliver the right goods and services more effectively and efficiently than its competitors “.

Kotler and Armstrong (1987):” marketing concept may be defined as a managerial orientation or outlook that accepts that the key of the organisation is to determine the needs, wants and values of a target market and to adapt the organisation to delivering the desired satisfaction more effectively and efficiently than its competitors “.

Hesket (1976): “a corporate state of mind that insists on the integration and corporation of all the marketing functions which in turn, are wielded with all other corporate functions for the basic objective of producing maximum long-range corporate profit”

Summary of the Marketing concept

Scholars’ interpretation of the marketing concept can be summarised as below:

  1. that business organisation need to find out the needs of their prospective customers/consumers;
  2. Thereafter develop a product, services or goods to meet the identified needs of the customers;

iii. find out or determine an appropriate and relevant target customer/market segment for it;

  1. fashion out a mean or method/strategy of marketing the product or services at a profit;
  2. that the business survival of an organisation depends on the highness or lowness of patronage enjoyed from the customers.

Concepts Under Which Organisations Conduct Marketing Activities

These concepts include the following:

  1. The Production Concept.

The production concept is a marketing philosophy that says “customers or consumers will like or accept the product and services which are highly available and affordable. This connotes that producers must produce promote and distribute through an appropriate channel. However, service providers or marketers are of the opinion that consumers will accept their products and services with timely production and efficient distribution, reduction in price, consumers are aware of the competitor’s prices, the service provider must not lower quality or standard in term of production and distribution.

  1. The Product Concept

This is a marketing philosophy anchored on the belief that consumers/customers/buyers/patronisers favour or prefer products or services that offer or give them most quality performance and features (value/utility i.e maximum satisfaction) therefore service providers or business organisations or producers must not lower the standard, be quality conscious and make concerted efforts in product improvement.

Philip Kotler assumptions of a product concept are:

  • that customers/ consumers aim are purely in quality and standard of product that gives them value for their money.
  • that customers/consumers patronize products rather than a solution to their needs.
  • that customers/consumers are aware of the quality and features of competitive products and services.
  • that customers/consumers confidence and loyalty can only be sustained only by offering them quality products and services.
  1. The Selling Concept (Sales concept)
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This marketing philosophy anchors on the belief that consumers will either not buy or buy enough or much of the organisation’s products except and useless the service provider, marketer, producer or organisation make a concerted effort to enhance, stimulate or build their confidence and interest in the products/services. This means producers must embark on intensive and aggressive promotional campaigns

Assumptions of the selling concept

  • Producers/service provider can influence consumers/customers to patronise them through various sales stimulant devices or strategies e.g offering a discount, buy one, get one free campaign etc.
  • The task of the organisation is to have a strong think- thank the sales team that can devise various strategies to hold the attention, attraction and retain their loyalty to the organisation’s products/services.
  • Consumers/customers avoid buying unnecessary nonessential goods and services i.e they will not patronise goods and services that are considered as extravagant.

 

 

WEEK 6

Marketing Concept continued.

Performance Objectives

Students should be able to explain:

  1. Concepts under which organization conduct marketing activities.
  2. The societal marketing concept
  3. The consumer orientation
  4. Integrated organizational efforts
  5. Profit orientation

Content

  1. Concepts under which organization conduct marketing activities.
  2. The societal marketing concept
  3. The consumer orientation
  4. Integrated organizational efforts
  5. Profit orientation

The Marketing Concept

This marketing concept is premised on the identification of the needs and wants of the prospective client or customers, therefore, the business firm or organisation must adapt the 4ps if the marketing mix(product, price, place and promotion) to ensure efficiency and effectiveness of the meeting and satisfying the needs and wants of the customers.

Assumptions of the marketing concept

  • Consumers can be classified into different categories depending on their needs and wants.
  • Irrespective of the market category, customers/consumers will likely favour or prefer the offer of the service provider or organisation whose products/services is closest to satisfying or meeting their particular needs, want and desires.
  • The main aim of the organisation/service provider is to further research with a view to holding and retaining their customer’s patronage/interest.
  1. The Societal/Consumer/Orientation Marketing Concept

This is the marketing orientation that recognises customers as the spine and cord i.e backbone of an organisation. It sees customers as the “live wire” and “lifeblood”, the heart of the business survival. It holds customers in high esteem and honours them as kings. In essence, the concept holds customers orientation that the company must define the customer’s needs from the customer’s aggregate points of view. That business organisations’ thinking should be geared towards meeting and serving the need and wants of a market or prospective customers that have been well defined and segme. This connotes that business organisation recognize the threat and opportunities that abound and business organisation develop an effective efficient feedback mechanism with a view to being handling the yearning and concerns of unsatisfied customers and clients etc.

  1. The Integrated/Coordinated Marketing Efforts

According to Packard(1982) ” Marketing is too important to be left to the marketing departments alone but it supposed to be the assignment/responsibility, the preoccupation of all the departments in the organisation. Hence, the integrated/concerted marketing efforts simply connotes that to meet and satisfy the needs of customers, the various marketing functions (advertising, publicity, sales, promotion, pricing, marketing, research, product, development and distribution etc.) must be coordinated and packaged by other existing departments( administration, production, public relations, etc.).

  1. Customer Satisfaction and Profit Orientation Concept

This is geared towards striving and make profits through the supply of consumer satisfaction in an effective and efficient manner. This can be achieved when business establishments/firms, accept and are ready to adequately find ways to maximize revenue and minimise cost, accept to establish a working and perfect system which knows and recognizes the sales potential and profitability of their different market segment, customer and consumer needs and wants and adopts the use of all available tools such as distribution cost, profit analysis and sales force productivity all in a bid to reduce cost with a view to profitably provide services that will give value for money.

  1. The Societal Marketing Concept

The Societal marketing concept is believed to be the newest and latest marketing concept. The philosophy according to Kotler (1993) holds that “organisation or business establishment should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively, efficiently than competitors in a way that maintains or improves the consumer and the society’s wellbeing. A scholar opined that the societal marketing concept quarried the appropriateness and adequacy of marketing concept as an organisational philosophy taking into cognizance the era of environmental hazards and deterioration, scarcity and shortage of resources, the high growth rate of population/exploitation, poverty, disease etc.  The concept beckons on professional marketers to equate three considerations in setting their marketing policies which are public interest or welfare, company’s profit and consumer want and satisfaction.

  1. Profit Orientation

A term used to describe a business that operates under the primary objective of making money. Although most commercial enterprises have some form of profit orientation to motivate employees to maximize revenues, the most successful producers also incorporate a customer orientation into their corporate philosophy to protect the company’s reputation and facilitate client satisfaction with its products.

 

 

Test : Marketing SSS1 First Term Mid-Term Assessment

 

  1. The principle of marketing is anchored on an exchange?

 

True

 

False

 

 

 

  1. What is the full meaning of AMA?

 

Accordance Marketing American

 

American Marketing Association

 

Americans Marketing Association

 

Accordance Marketing Americans

 

 

 

  1. . According to___________ “Marketing involves analysing customer needs, securing information needed to design and produce goods or services that match buyers expectations, and creating and maintaining relationships with customers and suppliers “?

 

Boone and Kurtz

 

AMA

 

Institute of Marketing London

 

Institute of Marketing Nigeria

 

 

 

  1. According to __________ “Marketing is the performance of business activities that direct the flow of goods and services from the producers to consumers or end-users”.

 

Boone and Kurtz

 

AMA

 

Institute of Marketing London

 

Institute of Marketing Nigeria

  1. According to ______________ “Marketing is the management process responsible for identifying, anticipating and satisfying consumer requirements profitably”.

 

Boone and Kurtz

 

AMA

 

Institute of Marketing London

 

Institute of Marketing Nigeria

 

 

 

  1. . ____________ the quantity of a commodity that a consumer is willing to buy and able to buy at a given price and at a particular time. Wants without a purchasing power and willingness to part with funds to satisfy it is not a demand but a gift?

 

need

 

product

 

demand

 

transaction

  1. __________ refers to the perceived rating of the product offer for the price and this also connotes the degree of satisfaction derived from the consumption of a product viz-a-viz the amount paid to exchange the product. There must be a principle of equity and fairness in value, utility and exchange?

 

need

 

product

 

demand

 

value

 

 

 

  1. ___________ is essential, not extravagant?

 

need

 

product

 

demand

 

transaction

 

 

 

  1. __________ connotes negotiations, business dealing and management. This is the process of what transpires between a client and service provider, a buyer and seller, a retailer and wholesaler, a teacher and a student?

 

need

 

product

 

demand

 

transaction

 

 

 

  1. __________ connotes anything that can be offered to someone to satisfy a need or want. It is what is given in exchange for something?

 

need

 

product

 

demand

 

transaction

 

 

 

  1. ._________ function philosophy opines that some marketers believe that the goal of a marketing system should be to maximize product variety

 

Maximize consumption

 

Maximize consumer satisfaction

 

Maximize choice

 

Maximize life quality

 

 

 

  1. ______________According to Kotler and Armstrong, this concept relates to maximize consumer satisfaction and not consumption?

 

Maximize consumption

 

Maximize consumer satisfaction

 

Maximize choice

 

Maximize life quality

 

 

 

  1. ________ means that marketers meet the needs and want of the consumer at a profit i.e profit to make is pivotal to meeting the needs of the people?

 

Maximize consumption

 

Maximize consumer satisfaction

 

Maximize choice

 

Maximize profit

 

 

 

  1. __________ concept connotes that marketing job should be to stimulate, enhance and increase consumption which will in turn create consumption?

 

Maximize consumption

 

Maximize consumer satisfaction

 

Maximize choice

 

Maximize life quality

 

 

 

  1. _________ views that quality of life is a worthwhile goal for the marketing system but they recognise that it is not easy to measure and that it means different things to different people?

 

Maximize consumption

 

Maximize consumer satisfaction

 

Maximize choice

 

Maximize life quality

 

 

 

  1. The concept marketing emerged_____?

 

1950s

 

1960s

 

1970s

 

1980s

 

 

 

  1. The pre-colonial era, which lasted from the dawn of time until 1860, can be called the age of_________?

 

bad trade

 

hard trade

 

simple trade

 

complex trade

 

 

 

  1. Exchange of goods for other goods prevailed over the exchange of goods for money in the precolonial era?

 

True

 

False

 

 

 

  1. During the colonial era (1860-1960), production era came to replace?

 

bad trade

 

hard trade

 

simple trade

 

complex trade

 

 

 

  1. Companies realised that they could no longer use the old marketing models to sell their products during post-independence era?

 

True

 

False

 

 

 

  1. ________ state that “a corporate state of mind that insists on the integration and corporation of all the marketing functions which in turn, are wielded with all other corporate functions for the basic objective of producing maximum long-range corporate profit “

 

Keit(1960)

 

Hasket(1976)

 

Baker(1974)

 

Kotler and Armstrong (1987)

 

 

 

  1. _________ state that “the customers want satisfaction is the economic and social justification of a company’s existence under marketing, the customer becomes the fulcrum, the pivot about which the business moves in operating for the balance test/interest of all concerned “?

 

Keit(1960)

 

Hasket(1976)

 

Baker(1974)

 

Kotler and Armstrong (1987)

 

 

 

  1. _________ state that marketing concept may be defined as a managerial orientation or outlook that accepts that the key of the organisation is to determine the needs, wants and values of a target market and to adapt the organisation to delivering the desired satisfaction more effectively and efficiently than its competitors “.

 

Keit(1960)

 

Hasket(1976)

 

Baker(1974)

 

Kotler and Armstrong (1987)

 

 

 

  1. _________ state that ” a managerial philosophy concerned with the mobilization, utilisation and control of total corporate effort for the purpose of helping consumers solve selected problems in ways compatible with the planned enhancement of the profit position of the firm”?

 

Keit(1960)

 

Hasket(1976)

 

Baker(1974)

 

Kotler and Armstrong (1987)

 

 

 

  1. The production concept is a marketing philosophy that says “customers or consumers will like or accept the product and services which are highly available and affordable.?

 

True

 

False

 

 

 

  1. . ________ connotes how the technological inventions, technical equipment and skills affect the way an economy’s resources are converted to output?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. __________ is the ecological forces that cover trends in the supply and cost of natural resources and energy problems of environment, deterioration and pollution control?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. Legislations, laws, economic policies made at all levels exercise a great influence on the marketing activities of an organisation than any other indices. This is said to be?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. ___________ factor includes the economic political, legal and technological forces?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Socio-Cultural factor

 

 

 

  1. ________ refers to the statistical study of human population and its distribution characteristics?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

 

WEEK 7

Market Segmentation

Performance Objectives

Students should be able to explain:

  1. Meaning
  2. Basic of segmentation
  3. Geographical
  4. Social-economic
  5. Psychographic
  6. Behavior
  7. Characteristics

 

Content

  1. Meaning
  2. Basic of segmentation
  3. Geographical
  4. Social-economic
  5. Psychographic
  6. Behavior
  7. Characteristics

Meaning of Market Segmentation

Market segmentation is the process of dividing a market of potential customers into groups, or segments, based on different characteristics. The segments created are composed of consumers who will respond similarly to marketing strategies and who share traits such as similar interests, needs, or locations.

Importance of Market Segmentation

Market segmentation makes it easier for marketers to personalize their marketing campaigns.

By arranging their company’s target market into segmented groups, rather than targeting each potential customer individually, marketers can be more efficient with their time, money, and other resources than if they were targeting consumers on an individual level. Grouping similar consumers together allow marketers to target specific audiences in a cost-effective manner.

Market segmentation also reduces the risk of an unsuccessful or ineffective marketing campaign. When marketers divide a market based on key characteristics and personalize their strategies based on that information, there is a much higher chance of success than if they were to create a generic campaign and try to implement it across all segments.

Marketers can also use segmentation to prioritize their target audiences. If segmentation shows that some consumers would be more likely to buy a product than others, marketers can better allocate their attention and resources.

Basic of Market Segmentation

As product markets tend to mature, customer needs often become more specialized. Depending on the level of competition in the product market, segmentation is the natural response of marketers to deal with the situation in the market. Market segmentation has become a norm today.

Market segmentation is based on the assumption that all the potential customers are not identical and that the firm should address their needs with appropriate product Land other marketing strategies or else should concentrate on only one single segment and tailor the strategy accordingly.

Market segmentation simply means dividing up a market into distinct groups that-(i) have common needs, and (ii) will respond similarly to a marketing action.

Segmentation process involves five distinct, steps:

  1. Finding ways to group consumers according to their needs.
  2. Finding ways to group marketing actions- usually the products offered- available to the organization.
  3. Developing a market-product grid to relate the market segments to the firm’s
  4. Selecting the target segments toward which the firm directs its marketing actions.
  5. Taking marketing actions to reach target segments.

 

Geographical Segmentation

Depending on their area of location, consumers are often found to have differences in their consumption behaviour. Marketers divide the markets into different geographical units at national, regional. State, local or neighbourhood level. These locations differ for their spread as well as for the extent and types of differences and the level of complexity.

The message and media strategies, therefore, differ for each of the locations. Small firms targeting a local area employ local media as against national marketers who develop specific advertising and marketing programmes for specific regions of the country. The multinational firm operating in different nations requires greater adaptations to suit the differences in culture and language.

 

Demographic or Social-economic Segmentation:

Consumers in a market have different demographic characteristics such as age, gender, income, religion, education, and occupation. These characteristics are easy to measure and are therefore most frequently used by marketers. One of the reasons for their popularity is that demographic characteristics are closely related to consumer needs, wants, and preferences.

This correlation between demographic characteristics and consumer behaviour lends support to this type of segmentation. For instance, income is a powerful predictor of consumer needs and wants. Demographic characteristics are very useful in locating the target market because they can be easily observed.

It is easier to locate consumers by age or income. Demographic variables, however, fail to describe how people within a segment think and feel. Very little insights can be gleaned in terms of their cognitive behaviour. Two people who belong to a particular income class are certainly similar with respect to income but may be radically different from each other in terms of their thinking.

If thinking has more influence on consumer behaviour, then demographic segmentation may offer little insights into strategy development. The intra- segment similarity produced by income is therefore superfluous.

Demographic bases of segmentation are briefly discussed here:

  1. Age:

People in a market can be divided into different age categories. Age is taken as a variable to perform segmentation with the assumption that consumer needs vary across age groups. This is not an invalid supposition.

For instance, kindergarten, toys, and cartoon channels are directed at kids’ age group; while motorcycles and colleges are aimed at youths. Age-based classification produces segments such as infants, kids, teenagers, adults, and senior citizens.

  1. Gender:

It is one of the most palpable differences between people. Biological dissimilarity and social conditioning make men different from women. These differences manifest in their varying responsiveness to products and communication appeals. For instance, sanitary pads are purely female products.

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Cultural conditioning and social roles also link product categories with specific genders. For example- jewellery, dolls, beauty products, homemaking goods, and hair care products have been conventionally linked with women, whereas products such as toy guns, automobiles, hardware, and consumer durables are connected with men. Gender-based segmentation easily divides the market to identify what products and services would typically appeal to these groups.

It must also be borne in mind that gender differences and roles are changing. Product classification based on gender is subtly undergoing a change. Therefore, product classification based on stereotypes may fail to capture the true essence of the market. Consider how cosmetics and beauty products have become gender-neutral over time.

This has given birth to a whole array of cosmetics and beauty brands that target men such as Fair and Handsome, Brylcreem, Gamier face wash, Nivea, VLCG, and Looks Salon. The reverse is also true; women have become a prime target for typical men’s products such as DSLR camera, scooters, and cars.

iii. Income:

It is one of the critical determinants of consumer behaviour. Consumer segmentation based on income categories is useful in gaining insights about what kind of products are likely to be consumed. For instance, income’s influence on people determines what they use for transportation, that is, whether they use a cycle, moped, motorcycle, economy car, or a luxury car.

Marketers thus cater to different income groups by appropriately designing their products and services. For instance, HUL markets three variants of detergent power, namely Wheel, Surf, and Surf Excel that target the economy, middle, and top end of the market respectively.

Automobile marketers commonly use income-based segmentation to divide their market and sell different variants according to affordability. Income is believed to be the prime driver of consumption but it would be wrong to assume that it is the sole driver. Income determines affordability but consumption is influenced by other factors also.

It would be wrong to assume that people with high incomes are the only buyers of luxury cars and everybody at the lower end of the spectrum buys economy cars. Cars bought on loans suggest that people do jump income boundaries in their consumption behaviour. Similarly, some affluent people drive small cars too.

Psychographic Segmentation

Information about consumers’ psychographics or lifestyle factors adds richness to the demographic information because it attempts to explain that why demographically alike people buy different products or require different message appeals to approach them. Psychographic profiles are prepared on the basis of patterns of responses that emerge from people’s activities, interests and opinions called as AIO inventory.

With the help of various market analysis techniques, marketers identify such groups which exhibit unique lifestyle patterns and thus generate market segments based on differences in their lifestyle. Lifestyle as a segmentation variable is found useful mainly for product categories where the user’s self/image is important. When the differences in lifestyle are correlated with the consumers’ product, brand and/or media usage, it allows for a fine-tuning of marketing strategies, particularly media and message strategies.

Behavioural Segmentation:

This method of segmentation uses consumer behaviour aspects for dividing the market. Consumers differ their ways of usage and faithfulness to a product. Dividing consumers into different groups based on behavioural aspects can help in appreciating their uniqueness and its marketing implications.

  1. Usage Quantity:

Consumers in the market can be divided on the basis of usage quantity. One of the easiest ways to arrive at this division is by breaking the market into the light, medium, and heavy users.

For instance, market differences in usage can be detected in the consumption of cola. Some consumers occasionally drink cola with an average consumption of fewer than two litres in a month. Medium users group may consume two to four litres, whereas heavy consumers can consume more than five litres. Coca-Cola’s bigger pet bottles of one litre are aimed at heavy consumers.

  1. Occasion:

Marketers do not pre-specify the occasion of consumption of a product. Hence, a product category could be used on various occasions. The market can therefore be segmented on the basis of the occasion. For instance, soft drinks can be consumed at different occasions such as quenching thirst while out in the sun, entertaining guests at home, or with dinner.

Tropicana in its bid to expand consumption targeted morning breakfast with the message ‘Now breakfast shall win’. The occasion can also be linked to seasons. For instance, consumer durables, home decor, and wall paint are linked with festival seasons in India. Titan has also promoted watch buying for gifting.

iii. Loyalty:

Consumers exhibit different levels of allegiance to the brands consumed. The market could also be segmented on the basis of loyalty status. There are buyers who would never move -away from their preferred brand. They are called true or hard loyal. Consumers who do not care about what brand they consume switch from one brand to the other easily.

This set of consumers is called switchers. Loyalty-based segmentation has gained importance lately because loyal consumers are more profitable. Companies profile their consumers to identify loyalists so that they can be given preferential treatment. Loyalty cards and reward programmes are tools to gauge and manage loyal consumers.

  1. Benefits Sought:

Consumers may seek different benefits from a product. These differences provide a logical ground to divide a market on the basis of benefits sought. For instance, two groups of customers in the real estate market are investors and home buyers. Investors buy houses to multiply their investment whereas home buyers buy to live in the dwelling.

Similarly, some people buy gold and diamonds as jewellery while others buy to invest. Benefit segmentation is clearly visible in the toothpaste market. The segments include seekers of social benefit, protection benefit, and economic benefit.

Characteristics of Market Segmentation

Measurable

Consumers who belong to a particular target market and segment should be clearly identifiable. The characteristics to include or exclude in the identification of a market segment are also well defined and measurable. Target markets are quantifiable in terms of population, income and age bracket, among other factors.

Accessible

Market segments should be accessible in terms of geography and economy. To enable accessibility of goods and services, there should be the use of appropriate marketing strategies. This is because the marketing strategy used for one group should differ from the strategy used for another, as their needs differ. For example, different age groups have different fashions, styles and consume different products. The way of communicating to this market segment should correspond to the relevant needs of consumers in this segment

Profitable

A market segment should be large enough to be worth pursuing. The main aim of market segmentation is to be able to tailor marketing techniques toward specific segments. This enables a firm to enjoy economies of scale while at the same time fulfilling consumers’ needs. The amount of disposable income the target market is willing to spend in purchasing the goods and services should be enough to enable the firm to earn profits. For example, if a product’s target market is young consumers, the price range should be attainable, considering that majority of the young people are dependent on their parents or guardians.

Market Responsiveness

Consumers in a given market segment should be responsive to the products meant for them. Unless consumers in market segments are willing to respond to the products developed, there is little reason to develop these products. The success of products introduced in the markets depends on whether they meet consumer or organization needs. Consumers’ decisions on whether to purchase or not to purchase will be an indicator of the performance of the product in the market.

 

 

WEEK 8

Classification of Product

Performance Objectives

Students should be able to explain:

  1. Meaning of product
  2. Classification of product
  3. Industrial goods
  4. Consumer goods
  5. Differences between goods and services

Content

  1. Meaning of product
  2. Classification of product
  3. Industrial goods
  4. Consumer goods
  5. Differences between goods and services

Meaning of Product

A product could be defined or described as anything that can be offered to a market for attention, acquisition, use or consumption. It includes physical objects, services, personalities, places, organisations and ideas. Generally, a product refers to anything that can be offered to a market to satisfy a need or want.

Kotler (1994) says the term product covers physical goods, service and a variety of other items that can satisfy human requirements.

  • A product could also be described as a bundle of physical service, and symbolic attributes designed to enhance consumer’s want satisfaction.
  • A product could be viewed as a set of features, functions and benefits that customers purchase. Products may consist primarily of tangible (tangible) attributes or tangible such as those associated with services or some combination of tangible and intangible.

Characteristics of Product

  1. Perishability of product

This feature connotes that some consumable products are prone to rot if not preserved, e.g. agricultural / farm products such as tomatoes, vegetables, fruits etc.

  1. Durability

Some products are durable whether preserved or not and can last longer though may require maintenance. Examples include industrial products, machinery, computer products etc.

  1. Bulk of the product

This requires a channel arrangement that minimizes the number of handlings in the movement from producer to the ultimate consumer.

  1. Unit value of the product

Most product of high unit is often sold or disposed of via an organisation or producer’s sales force rather than through the middlemen/intermediary.

Product Life Cycle

Product life cycle connotes the stage that a product passes through from the idea generation(birth) to the time when the product ceases to exist(decline/death).

  1. Cycle 1

Birth/Introduction stage: This is when an organization brings to fore or gives birth to a business idea or introduce and produces a product into the market. E.g. the time a school proprietor opens premises for schooling or for enrolment of students.

  1. Cycle 2

Growth stage: This is the stage when a business or product is getting a kind of stability or recognition by the customers or clients. At this stage, many people are getting to know about the products. E.g. the time when the student enrolment population of the school begins to rise steadily due to recognition and stability.

iii. Cycle 3

Maturity stage: This is the stage of “explosion” I.e. when the product or service has become a household item or product. At this stage, the business has expanded and everybody wants to associate with their product or service. E.g the time every parent wants their child or children to be enrolled in that school.

  1. Cycle 4

Decline stage: This is the stage when awareness, fame and popularity of a business, product or services begin to come down or reduce gradually and if care and caution are not taken may eventually cease to exist. E.g enrolment figures begin to reduce and staff turnover begins to increase.

Classification of Products

Products can be classified into these:

(a) Consumer products/goods and

(b) Industrial products/goods

  1. Industrial Products: Industrial/Organisational products are those which contribute directly or indirectly to the production of other products. These types of products are procured by organisations to be used in producing other products. It is also known as business-to-business products.

Types of Industrial Products

  1. Installation: These products are known as major capital goods. Ordinarily, installations are customized, expensive and purchased infrequently. They are speciality products. E.g buildings, laboratories etc., their selling process is typically complex, highly technical and challenging requires professionalism and expertise.
  2. Accessories: These are shorter-lived than installations. They are standardized products which are procured more frequently than installations. Examples include products such as portable drills, handsets, computer, photocopier. These products are considered capital intensive and customers depreciate their cost over several years. Buyers do not need special technical expertise intervention during the procurement process.

iii. Raw materials: These products are synonymous to component parts and materials(as would be seen later) in that they actually become part of the buyer’s final products.  Examples include farm products such as beef, cotton, eggs, natural products such as coal, copper, iron ore etc. they are unprocessed products which become part of a company’s finished products.

  1. Component parts/materials: These are already processed products or those that need slight processing to be ready for assembly within the finished products. They represent finished business products of a producer A, which became part of the final product of another producer B. Examples include textiles, paper pulp, chemicals, onions, tyres etc. and many other products are component parts/materials used in the production of other products.
  2. These are products that are used in support of business operations but are not part of the finished products. They are frequently purchased, inexpensive, need no technical expertise, standardized. They are regular expenses that a business establishment requires daily. Supplies are sometimes known as MRO products because they are further sub-divided into three units:
  3. a) maintenance items e.g brooms  filter;
  4. b) repair items e.g nuts and bolts used in repairing equipment;
  5. c) operating supplies e.g fax paper and pencils.
  6. Business to business: This category includes the physical or tangible products that organisations procure to facilitate and enhance their production and operating processes. Examples include financial services, leasing and renting, insurance, security, legal advice etc. price is a fundamental factor which determines decision making of business-to-business products.
  7. Consumer Products

Consumer products can be grouped as follows

  1. Convenience products: Convenience products are goods and services that consumer purchase conveniently, frequently, immediately and with minimal efforts. Consumers rarely go to competing or expensive stores or compare price and quality when procuring convenience products. They can easily be purchased in the open market or the street. E.g. milk, butter, toothpaste, bread, soap etc..
  2. Shopping products: These are more expensive than convenience products and the decision is important. Consumers spend more time and extra effort in collating vital data that could aid and assist them in buying decision. Information on brand, prices, features, place of manufacturing, durability etc. Examples are home appliances, furniture, expensive/designer shoes and clothes, jewellery and gold, perfume etc. these products are not commonly patronised as convenient products, they are expensive in term of the brand, quality and price to convenience products.

iii. Specialty products: Here, consumers favour a particular brand or attach great importance to a particular brand that it would not buy a competing brand except the favourite one. The products invariably form part of consumers image and personality and identity and the distribution of speciality products is very limited. E.g Italian shoes and belt, Saudi/Rolex watches, Nike products, Samsung products etc..

  1. Unsought products: These are unknown product/accidental products which consumers do not prepare to purchase but only come across to fulfil one of the reasons for holding money (speculative motive). Consumers do not seek out for unsought products until they come across them through advertising, sales promotion, exhibitions and trade fairs etc. Examples are smoke detectors, agro-allied products, snake killer etc.
  2. Emergency products: These are products that are procured when there is an urgent need for them either as a result of natural occurrence such as a cold, hot, change in weather climate etc. E.g. raining boots, cardigans, warmer, umbrella, raincoat etc.
  3. Impulse products: They are products that consumers procure without any planning or search effort. They are often found in places because consumers rarely seek out for them. Examples include newspaper and magazines, popcorn, roasted groundnuts etc.

 

 

WEEK 9

Marketing Mix (4ps)

Performance Objectives

Students should be able to:

  1. Explain the marketing mix(4ps)
  2. Identify the 4ps of marketing
  3. Product
  4. Price

iii. Place

  1. Promotion

Content

  1. Explanation of marketing mix(4ps)
  2. Identification of the 4ps of marketing.
  3. Product
  4. Price
  5. Place
  6. Promotion

 

Marketing Mix

The term marketing mix is a popular phenomenon in the principle of marketing management and it refers to the combination of the four inputs or factors that constitute the major components or pillars upon which marketing system rests. The term is popularly known as the 4ps’. McCarthy in 1976 was the first professional marketer acclaimed to have referred to product, price, promotion and place as 4P’s of marketing. Marketing Mix refers to all marketing decisions and activities which stimulate, enhance and promote sales. It is a combination of policies, procedures processes, programmes, strategies, techniques and methods adopted from period to period by an organisation in its marketing programmes and activities which will help to best achieve and actualize the mission, vision, goals and objectives within a certain period of time.

The Four P’s of  Marketing

McCarthy as earlier reported popularized a four-factor consideration which are

  1. Product: This connotes a broad concept that encompasses the satisfaction of all consumer needs in relation to a good, service or idea. It includes making decisions about customer service, package design, brand names, trademarks, warranties, product development, quality, feature and packaging. It includes an element of marketing decision which are made with a view to making and developing the right good or service for the company’s customers. Strategies used to make the company’s customers. Strategies used to make a company’s product attractive and inviting to customers to promote and enhance patronage.
  2. Price: Price is the amount/ anything that is used to facilitate exchange and of all the four p’s, price is the most sensitive one because customers respond more to price strategy than other three p’s. The following among others are the pricing strategies: least price, discount, payment period, credit terms etc. one of the factors that influence a marketer’s pricing strategy is competition. Naturally, consumers perception about the quality or inferiority of a product is on the monetary value or worth placed on it.
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Pricing Policies and Strategies

  1. a) Discount: This involves the offer of reduction from a base price.
  2. b) Cash discount: it connotes discount reduction/ deduction accruing to buyers for making payments within a specific period.
  3. c) Quantity discount: it means discount reduction made to encourage customers to buy in large quantity or bulk or wholesales.
  4. d) Trade discount: it refers to deduction given to the customers in payment for the marketing functions he/she is expected to discharge…

Whichever a strategy a marketer employs, pricing decisions should be tailored to meet the following conditions:

  1. support  a product marketing strategy;

ii.achieve part of the financial objectives of a firm;

iii.conform with the realm of the market environment.

  1. Place: This is otherwise referred to as a distribution, time/possession utilities and there are conditions that enable consumers and business users to have products available for use when and where they want them. It also connotes the network or distribution strategy which an organisation provides to make its product accessible to the prospective customers. Place or a distribution decision involves modes of transportation, warehousing, inventory control, order processing and selection of marketing channels.

Factors influencing decisions on marketing channels

  1. Number of customers
  2. Geographical location

iii. Purchasing pattern of buyers

  1. Nature if the products
  2. Availability of resources (men, material, method, money, machine)etc.
  3. Promotion: This relates to all marketing efforts made to convince potential customers that the ‘right’ product is available at the ‘right’ place and at the ‘right’ price through publicity, advertisement, sales promotion and other promotion techniques. The main goal of every promotional strategy is to inform, persuade, educate, enlighten, orientate or remind the target audience about the availability of a product.

Promotion strategies could be employed to achieve the following communicating factors:

  1. a) communication as persuasion.
  2. b) communication as a transmission of information.
  3. c) communication as personal expression, social interaction and relationship; and
  4. d) communication as a vital instrument of social and political change (Bordeanavo1977)

Types of Promotion Strategies

  1. Publicity: This has been described as a technique or method of informing the public or consumer of a company’s product or service with a view to generating interest and creating favourable public opinion through extensive commendatory notices in press and on air.
  2. Sales Promotion: The Objectives and target of sales promotion are to enhance and entice potential customers to purchase immediately. As put by Schewe (1987) “sales promotion is typically used as the point of purchase to motivate the consumer to complete an exchange. It complements personal and mass selling efforts”

According to American Marketing Association (AMA, ” Sales promotion refers to those marketing activities other than personal selling, advertising and publicity that stimulate consumer purchasing and dealer effectiveness such as displays, shows and exposition, demonstrations and various non-recurrent selling efforts not in ordinary routine”.

Sales promotion material and activities.

AIMED AT FINAL CONSUMER AND USERS AIMED AT MIDDLEMEN AIMED AT COMPANY OWN SALESFORCE

Banners Price deal Contests

Samples Promotion allowance Bonuses

Contests Sales contests Meetings

Calendars Calendars Portfolios

Point of purchase Gifts Displays

Materials   Sales aids

Aisles displays   Training materials

 

McCarthy and Brogowicz Sales Promotion Model

iii. Advertisement: This is a paid-for, non-personal communication through various media about a business, firm, product, ideas or services by an identified sponsor. Its intention is to persuade or influence members of a particular audience. Advertising primarily involves the use of mass media as newspapers, television, radio, magazines etc..

  1. Public relations: This relates to how a company relates to its various public or customers. These publics include customers’, suppliers, community where the business is located etc.. organs of public relations/communication components are newsletter, house organs, bulletins, special journals, notice boards, company/official websites and wares etc. Community Social Relationship (CSR) is a key component in community relations.

WEEK 10

Marketing Mix (Cont.)

Performance Objectives

Students should be able to explain:

  1. Market environment

Content

  1. Explanation of market environment

Marketing Environment

Marketing environment relates to both internal and external factors that affect an organisation’s ability to develop and maintain successful transactions and relationships with its target customers. Businesses do not operate in a vacuum; hence, the decision is made in line and response to changes in an organization’s internal(micro) and external ( macro) environments.

Classification of Marketing Environment.

Basically, the marketing environment can be grouped or classified into two groups:

  1. Micro Environment: This connotes of an organisation’s own influence, objectives and resources. Objectives provide direction for marketing decisions. It is made up of an organisation’s immediate customers, competitors, clients, the consumer. They can also be regarded as the stakeholders, shareholders, staff, staff relations and families of an organisation.
  2. Macro Environment: This relates to a set of broad influences such as culture, demographic, economic, political, legal, technology, social.

WEEK 11

Marketing Mix (Cont.)

Performance Objectives

Students should be able to explain:

  1. Factors affecting the market environment

Content

  1. Factors affecting the market environment

 

Factors Affecting Market Environment

  1. Socio-cultural factor: This factor includes the economic political, legal and technological forces. This connotes that people and their socio-cultural customs and belief are fundamentally and basically what shape and determine the economy, political-legal system and technology. These factors affect how and why people live and behave as they do. These factors are important because it has an impact on customer buying behaviour.
  2. Technology factor: This connotes how the technological inventions, technical equipment and skills affect the way an economy’s resources are converted to output. Technology is the word of (Hill and Sullivan 1996) is a driving force for change in society and can be significant to the marketer for a number of reasons: it can create better ways of satisfying existing needs it can identify latent needs and enable new customers to be renewed. It alters the pattern of demand and changes the nature of competition in an industry and it can increase the efficiency and effectiveness of marketing activities.

iii. Economic factor: People’s existence has no meaning to the environment they live if they do not have money and willing to spend it. Marketing programmes are affected by economic growth, interest rates, supply and demand for money, price inflation and availability of credit, that is, economic factor influences the ability and willingness of individuals and organisations to perform transactions with a view to acquiring goods and services they need, want and desires.

  1. Political and Legal factors: Legislations, laws, economic policies made at all levels exercise a great influence on the marketing activities of an organisation than any other indices. The following among other is the possible area of political and legal influences:
  2. a) provision of information and purchase of goods.
  3. b) legislation specifically related to marketing.
  4. c) government relationship with individual industries.
  5. d) broad social legislation and accompanying policies set by regulatory agencies.

Equally, the reactions, attitudes and behaviours of people, social critics, public opinion makers, government etc. among others affect the political environment. Consumers in the same society usually hold a common and similar political environment which can also have an effect (negative and positive) at local, national and international level.

  1. Economic factor: According to Kotler (1980), ecological forces cover trends in the supply and cost of natural resources and energy problems of environment, deterioration and pollution control. This natural environment according to Kotler and Armstrong (1987) consists natural resources that are needed as inputs by marketers or that are affected by marketing activities. The trends which ecological factor covers include: a shortage of raw materials, increased cost of energy, increased levels of pollution and government intervention in natural resources management.
  2. Demographic factor: Markets are constituted by people who have money to spend and are willing to spend it. It refers to the statistical study of human population and its distribution characteristics. Its relevance to marketing is that it affects the production decision of what to produce, where to produce, when and how to produce and for whom to produce.

WEEK 12

What Market do

Performance Objectives

Students should be able to explain:

  1. Mobilization of workforce

Content

  1. Actions before marketing e.g. mobilization of workforce

 

What Market Do

The term market consists of all potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy the need and want. It comprises or composed people or institutions with sufficient purchasing power authority, and willingness to buy. The target market for a product is the specific or particular segment/group of customers most likely to procure and patronize a specific product.

Actions Before Marketing

Business organisation before the identification of the needs and wants of the customer which is the core of marketing do perform and embark on certain activities in preparation for business operations. The greatest assets of any business organisation are the staffs, the reason is that of all the resources: men, material, money, machine, method, men which constitute the employees are the only one who manipulates the other variables.

For the purpose of this study, the business operational actions before marketing would be examined under the following matters:

  1. Mobilisation of workforce

This connotes recruitment or employment of competent and relevant workforce who are capable enough to discharge their roles and responsibilities efficiently and effectively. Business organisations recruit employees through several methods and procedures such as using advertisements to communicate the vacancy, shortlisting of interested applicants for an interview (oral and written), the offer of provisional job before conversion of such to full staff/permanent employment. It can also be through casual labour. Mobilization of the workforce could also be described as equipping employed staff with necessary training programmes that would enable them to understand the mission and vision among other things than organization stands for i.e why they are in business

Test : Marketing SSS1 First Term Final Assessment

 

  1. . Consumers can be classified into different categories depending on their needs and wants?

 

True

 

False

 

 

 

  1. . ____________ holds that “organisation or business establishment should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively, efficiently than competitors in a way that maintains or improves the consumer and the society’s wellbeing?

 

Keit(1960)

 

Hasket(1976)

 

Baker(1974)

 

Kotler (1993)

 

 

 

  1. The Societal marketing concept is believed to be the newest and latest marketing concept?

 

True

 

False

 

 

 

  1. Profit orientation is a term used to describe a business that operates under the primary objective of making money?

 

True

 

False

 

 

 

  1. The main aim of the organisation/service provider is to further research with a view to holding and retaining their customer’s patronage/interest. This is not one of Marketing concepts’ assumptions?

 

True

 

False

 

 

 

  1. __________ is describing consumers in a market having different demographic characteristics such as age, gender, income, religion, education, and occupation

 

demographic segmentation

 

geographical segmentation

 

market segmentation

 

psychological segmentation

 

 

 

  1. __________ makes it easier for marketers to personalize their marketing campaigns?

 

demographic segmentation

 

geographical segmentation

 

market segmentation

 

psychological segmentation

 

 

 

  1. _________ is the method of segmentation that uses consumer behaviour aspects for dividing the market?

 

demographic segmentation

 

geographical segmentation

 

market segmentation

 

behavioural segmentation

 

 

 

  1. Depending on their area of location, consumers are often found to have differences in their consumption behaviour. This is said to be____?

 

demographic segmentation

 

geographical segmentation

 

market segmentation

 

psychological segmentation

 

 

 

  1. Depending on their area of location, consumers are often found to have differences in their consumption behaviour. This is said to be____?

 

demographic segmentation

 

geographical segmentation

 

market segmentation

 

psychological segmentation

 

 

 

  1. ____________ gives information about consumers’ lifestyle factors that adds richness to the demographic information?

 

demographic segmentation

 

geographical segmentation

 

market segmentation

 

psychological segmentation

 

 

 

  1. ____________ says the term product covers physical goods, service and a variety of other items that can satisfy human requirements?

 

Kotler(1994)

 

Hasket(1976)

 

Baker(1974)

 

Kotler (1993)

 

 

 

  1. Circle 1 of product life circle is the decline stage?

 

True

 

False

 

 

 

  1. . The following are consumer product except?

 

emergency product

 

impulse product

 

speciality product

 

groove product

 

 

 

  1. . ____________ are products that consumers procure without any planning or search effort?

 

emergency product

 

impulse product

 

speciality product

 

unsought product

 

 

 

  1. __________ are unknown product/accidental products which consumers do not prepare to purchase but only come across to fulfil one of the reasons for holding money (speculative motive).?

 

emergency product

 

impulse product

 

speciality product

 

unsought product

 

 

 

  1. . ___________ relates to all marketing efforts made to convince potential customers that the ‘right’ product is available at the ‘right’ place and at the ‘right’ price through publicity?

 

Marketing mix

 

product

 

price

 

promotion

 

 

 

  1. _________ is a popular phenomenon in the principle of marketing management?

 

Marketing mix

 

Marketing product

 

Marketing price

 

Marketing place

 

 

 

  1. . ________ is otherwise refers to as distribution, time/possession utilities and there are conditions that enable consumers and business users to have products available for use when and where they want them?

 

Marketing mix

 

product

 

price

 

place

 

 

 

  1. ________ connotes a broad concept that encompasses the satisfaction of all consumer needs in relation to a good, service or idea?

 

Marketing mix

 

product

 

price

 

place

 

 

 

  1. _________ is anything that is used to facilitate exchange and of all the four p’s?

 

Marketing mix

 

product

 

price

 

place

 

 

 

  1. ___________ connotes of an organisation’s own influence, objectives and resources?

 

Marketing environment

 

Micro environment

 

Macro environment

 

Mixed environment

 

 

 

  1. Marketing environment can be grouped into _______?

 

2 groups

 

3 groups

 

4 groups

 

5 groups

 

 

 

  1. _________ relates to both internal and the external factors that affect an organisation’s ability to develop and maintain successful transactions and relationships with its target customers?

 

Marketing environment

 

Microenvironment

 

Macro-environment

 

Mixed environment

 

 

 

  1. Micro and Macro environment are the group of marketing environment?

 

True

 

False

 

 

 

  1. _________ relates to a set of broad influences such as culture, demographic, economic, political, legal, technology, social?

 

Marketing environment

 

Micro environment

 

Macro environment

 

Mixed environment

 

 

 

  1. . ________ refers to the statistical study of human population and its distribution characteristics?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. ___________ factor includes the economic political, legal and technological forces?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Socio-Cultural factor

 

 

 

  1. Legislations, laws, economic policies made at all levels exercise a great influence on the marketing activities of an organisation than any other indices. This is said to be?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. __________ is the ecological forces that cover trends in the supply and cost of natural resources and energy problems of environment, deterioration and pollution control?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. ________ connotes how the technological inventions, technical equipment and skills affect the way an economy’s resources are converted to output?

 

Economic factor

 

Political and legal factor

 

Demographic factor

 

Technology factor

 

 

 

  1. Business organisation before the identification of the needs and wants of the customer which is the core of marketing do perform and embark on certain activities in preparation for business operations?

 

Yes

 

No

 

 

 

  1. Mobilization of the work force could also be described as equipping employed staff with necessary training programmes that would enable them to understand the mission and vision among other things than organization stands for i.e why they are in business?

 

True

 

False

 

 

 

  1. The term market consists of all potential customers sharing a particular need or want who might be willing and able to engage in exchange to satisfy the need and need?

 

True

 

False

 

 

 

  1. Mobilization can also be through casual labour?

 

True

 

False

 

Hope you got what you visited this page for? The above is the lesson note for Marketing for SS1 class. However, you can download the free PDF file for record purposes.

If you have any questions as regards Marketing lesson note For SS1 class, kindly send them to us via the comment section below and we shall respond accordingly as usual.

 

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