Marketing Questions and Answers

A benefit that ABC Foods would derive from advertising its products is an increase in market share. Advertising plays a crucial role in raising awareness about a company's products or services and attracting customers. By effectively promoting their products through advertising, ABC Foods can reach a larger audience, create brand recognition, and generate interest and demand for their products. As a result, ABC Foods can potentially increase its market share by capturing a larger portion of the target market and competing more effectively against other companies in the industry.

Based on the information provided, a suitable advertising medium for ABC Foods, which is searching for a lower-cost option to advertise its products, would be radio. Radio advertising can be a cost-effective option compared to television, newspaper, or magazine advertising, as it generally requires lower production costs and offers more affordable airtime rates. Radio advertisements can reach a wide audience, especially during peak listening times, and are often used to target specific demographics or geographic areas. Considering the objective of lowering advertising costs, radio advertising can be a suitable choice for ABC Foods to promote its products effectively within a budget.

A specialized facility used for the storage of fruits and vegetables is a refrigerator. Refrigerators are commonly used in homes, supermarkets, and commercial establishments to maintain low temperatures and control humidity levels, which help to extend the shelf life of perishable items like fruits and vegetables. Refrigerators provide a controlled environment that slows down the ripening process and helps to preserve the freshness and quality of the stored produce.

Demand is an economic concept that relates to a consumer's desire to purchase goods and services and willingness to payt a specific price for them.

Technogical factors include production techniques, information and communication resources etc. These affect how an organisation operates, sells its products, interacts with, and gathers intelligence on customers, suppliers and competitors.

The pricing strategy commonly used by wholesalers of industrial goods is cost-plus pricing. Cost-plus pricing involves determining the selling price of a product by adding a markup percentage to the cost of production or acquisition. In the case of wholesalers, they typically purchase goods in bulk from manufacturers or suppliers and then resell them to retailers or other businesses. To establish the selling price, wholesalers consider the cost of acquiring the goods, including transportation, storage, and any additional costs incurred, and add a markup percentage to cover their desired profit margin. Cost-plus pricing is a straightforward and commonly used method for wholesalers to set prices and ensure they generate a reasonable profit.

The part labelled Z is package. In marketing, a package refers to the physical container or wrapping that holds a product. It includes the design, materials, and functionality of the container, as well as any labeling or branding elements. The package plays a crucial role in attracting consumers, communicating the product's value proposition, and protecting the product during storage and transportation.

The inscription "V-Cough" on the product is an example of a brand name.

No explanation has been provided for this answer.

No explanation has been provided for this answer.