Define and discuss the different processes that occur in consumer markets and business markets. Explicate how long-term relationships can be created in the different markets.
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Define and discuss the different processes that occur in consumer markets and business markets. Explicate how long-term relationships can be created in the different markets.
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- Market Structures: Why is it necessary for business firms to have knowledge on the Market Structures? In what ways will this knowledge be of help to business firms? Why is it advantageous to business firms?Explain the importance of understanding the market-place and customers and identify the five core market-place concepts.Explain 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.
- Understand the characteristics of business-to-business marketsand business-to-business market demand and how marketers classify business-to-business customersDevelop a social resonsibility plan that will assist a business in improving its relationship with the community.Describe the major trends that are changing the marketing landscape in this age of relationships?
- Discuss in what ways technology affects marketing. Think both from consumers' and marketers' sides.Critically evaluate the importance of monitoring the external business environment and how your chosen organization manages the gap between the demands of the market and its ability to respond to the changes in the marketing environment.Before developing their marketing plans, marketers need to study consumer markets and consumer behaviour. In analysing consumer markets, firms need to research who constitutes the market (occupants), what the market buys (objects), why the market buys (objectives), who participates in the buying (organisations), how the market buys (operations), when the market buys (occasions), and where the market buys (outlets). Explain.