Marketing Questions and Answers

Financial firms are not typically considered marketing intermediaries. Marketing intermediaries are organizations or entities that facilitate the distribution of products or services from the producer to the end consumer. They play a role in the distribution channel by connecting producers with consumers and ensuring that products reach their intended market. Major distributors, wholesalers, and retailers are all examples of marketing intermediaries as they are involved in the movement and sale of products. Financial firms, on the other hand, primarily deal with financial services such as banking, investment, or insurance, and do not have a direct role in the physical distribution of products.

The illustration that would be used to distribute the health application developed by BIK Ltd is "Producer -------------> Consumer." In this scenario, BIK Ltd, as the producer, directly provides the health application to the end consumer. This distribution model bypasses the involvement of intermediaries such as retailers, wholesalers, or agents. BIK Ltd may distribute the application through app stores, its website, or other online platforms where consumers can directly access and download the application to their devices. This direct distribution approach allows BIK Ltd to have more control over the distribution process and ensures that the health application reaches the end consumer efficiently.

The means that would be used by BIK Ltd to make the health application available to the target market is the Internet. The Internet is a widely used platform for the distribution of digital services, including applications. By making the health application available on the Internet, BIK Ltd can reach a broad audience and make the service easily accessible to the target market. Users can download the application from app stores or the company's website, allowing them to access and use the health application on their devices. The Internet provides a convenient and efficient channel for distributing digital products and services like applications.

Market orientation is a customer -centered approach to product design. It involves market research aimed at determining what customers view as their immediate needs, primary concerns, or personal preference within a particular product category.

Primary product are natural raw materials, it include: crude oil, coal, iron ore, agricultural products etc.

Primary product are natural raw materials, it include: crude oil, coal, iron ore, agricultural products such as wheat, cotton, coffee beans etc.

An activity performed in a warehouse is sorting and labelling. Warehouses are facilities where goods are stored, managed, and organized. Sorting and labelling involve the process of categorizing and arranging products based on specific criteria, such as product type, size, SKU (stock keeping unit) number, or destination. This activity helps facilitate efficient inventory management and retrieval of goods within the warehouse. By properly sorting and labelling products, warehouse personnel can quickly locate and retrieve specific items when needed, ensuring smooth operations and timely order fulfillment. Sorting and labelling are crucial tasks in maintaining an organized and efficient warehouse environment.

The factor that is not a price determinant among the given options is the consumer's culture. While the cost of production, competitor's prices, and the level of demand are all factors that can influence pricing decisions, the consumer's culture is not typically considered a direct determinant of price. Consumer culture refers to the beliefs, values, attitudes, and behaviors of a particular group of consumers, which can influence their purchasing decisions and preferences. However, it is not directly tied to the determination of prices in a market.

The last stage in the buying decision process is the post-purchase behavior. After making the purchase decision, consumers engage in post-purchase behavior, which involves evaluating their purchase and deciding whether they are satisfied or dissatisfied with the product or service. This evaluation is based on factors such as performance, quality, value for money, and how well the product or service meets their needs and expectations. The post-purchase behavior can influence future buying decisions and customer loyalty.

Promotion mix deals with the communication aspect. The purpose is to make the goods and services known to prospective customers, i.e creation of awareness.