Marketing (OBJ & ESSAY) Neco 2017 Free Expo Answers
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Thursday 8th June 2017
OBJ & Essay - Marketing - 10am - 12:40pm
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1a)Warehousing
Is the action or process of storing goods in a warehouse and the
building up of a holding of shares in a company by buying numerous small
lots of shares in the names of nominees, in order to make a takeover
bid while remaining anonymous.
1b)- 1. Receiving of Goods
2. Preparation of Record
3.Identification
4. Storing
1. Receiving of Goods :-
It is the basic important function of the warehouse. When goods are
handed over by the producer, it accepts the goods and assumes the
responsibility to deliver the goods. It issues the receipts of goods.
2. Preparation of Record :-
The warehouse keeper checks the items of each shipment and prepares the
record. All the record is maintained properly to avoid any problem at
the time of delivery.
3. Identification :-
After receiving the
goods warehouse keeper marks the each items separately. He may use the
code number or he may attach the tag for identification. Due to
identification one can easily separate the goods of different firms.
4. Storing :-
It is the major function of warehousing. The goods are kept safely in
warehouse. Today all types of fruits are available in each season due to
the storing facility. There is a proper protection of goods like food
crops in the warehouses.
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6a) Transportation is indispensible function of marketing .
Transportation provides the physical means of carrying goods and
persons from one place to another. In other words, it is concerned with
carrying the goods from the places of production to the places of their
consumption.
6b)- Transportation links the different fixed
facilities and markets and thus serves to neutralize the spatial
separation of the facilities.
-As a marketing function, therefore,
it increases the economic value of the products by creating time and
place utilities and promoting possession utility.
-For the producer,
the transportation aids in moving raw materials and other components
from the suppliers to the plants and warehouses and from plants and
warehouses to other plants. It also involves the movement of finished
goods from the plants to the warehouses or distribution centers and to
customers.
-The wholesaler transports goods from the warehouse or distribution centers to retailers.
8b)-Awareness
- Information
- Persuasion
-Attitudes
- Awareness:
One of the important roles of advertising is to create awareness of the
product or services such as brand name and price. The awareness of the
product or services can be created through highlighting the unique
features of the brand. Nowadays, due to intense competition it is not
just enough to create awareness, but top of mind awareness is needed.
- Information:
Advertising helps to inform the target audience about the product.
Providing information is closely related to creating awareness of the
product. Potential customers must know about a product, such as product
features and uses.
ADVERTISEMENTS:
Product information is very
much required, especially when the product is introduced in the market,
or when product modification is undertaken. Proper product information
can help the consumers in their purchase decision.
- Persuasion:
When business firms offer similar products, the firm must not only
inform the customers about the product’s availability, but also persuade
them to buy it. Through persuasive messages, the marketers try to
provide reasons regarding the superiority of their products as compared
to others available in the market. Persuasion can be undertaken through
creative advertising messages, product demonstration at trade fairs,
offering free gifts, premium offers and organizing contests.
- Attitudes:
Promotion is required to build or reinforce attitudes in the minds of
target audience. The marketers expect the target audience to develop a
favourable attitude towards their brands. Positive attitude towards the
brand helps to increase its sales. Through promotional techniques like
advertising, the marketer can correct negative attitude towards the
product, if any. Negative attitude can also be corrected through public
relations and advertising.
4b) "pick only two"
-functional structure
-divisional structure
-matrix
Functional Structure
Functional
structure is set up so that each portion of the organization is grouped
according to its purpose. In this type of organization, for example,
there may be a marketing department, a sales department and a production
department. The functional structure works very well for small
businesses in which each department can rely on the talent and knowledge
of its workers and support itself. However, one of the drawbacks to a
functional structure is that the coordination and communication between
departments can be restricted by the organizational boundaries of having
the various departments working separately.
Divisional Structure
Divisional
structure typically is used in larger companies that operate in a wide
geographic area or that have separate smaller organizations within the
umbrella group to cover different types of products or market areas. For
example, the now-defunct Tecumseh Products Company was organized
divisionally--with a small engine division, a compressor division, a
parts division and divisions for each geographic area to handle specific
needs. The benefit of this structure is that needs can be met more
rapidly and more specifically; however, communication is inhibited
because employees in different divisions are not working together.
Divisional structure is costly because of its size and scope. Small
businesses can use a divisional structure on a smaller scale, having
different offices in different parts of the city, for example, or
assigning different sales teams to handle different geographic areas.
Matrix
The
third main type of organizational structure, called the matrix
structure, is a hybrid of divisional and functional structure. Typically
used in large multinational companies, the matrix structure allows for
the benefits of functional and divisional structures to exist in one
organization. This can create power struggles because most areas of the
company will have a dual management--a functional manager and a product
or divisional manager working at the same level and covering some of the
same managerial territory.
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Wednesday 14th June 2017
