ANSWERS

Question No 1.

1)     Bonds

2)     C

3)     In essence it does not matter how good a form may think it's      product, or how well organised it's organisation, unless it has customers. without customers, there is simply no business to  conduct. in the statement by, Adam Smith gives the essence of the      central guiding theme of the subject of marketing. the key word is      customer, as it is the      identification and satisfaction of      consumer's requirements that form the basis of the modern      marketing concept.

4)   A social process

     A distributive system

     A  Functional area of management

     An overall business philosophy

     A targeting or allocative system

5)     Josiah Wedgewood -------- Pottery

        Richard Branson ------------ VIRGIN

        Anita Broderick -------------- Body Shop

Question No 2.

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Question No 3.

1)     B

2)     1]   Ascertain the need, and wants of a specifically defined market.

     2]   Produce goods and/ or services that satisfy consumer requirements profitably.

3)     C

4)     The Management of Organisational Change.

Question No 4.

1     Action

2     Improved     

3     Adopted

4     Key

5     Involves

6     Requirements

7     Place

8     Value, Satisfy

9     Satisfaction

Question No 5.

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Question No 6.

1)     C + D

2)     The firm co-operation of many other departments.

3)     Finance, Production and Legal

4)     a]   B.M.W.

     b]  1}   Increased buyer power / maximise profits

           2}  Wider distribution outlets

           3}  Technological co-operation

5)     a]   VIRGIN Plc

     b]   Virgin Cola

     c]   

     d]   A dominated market by two major players, (80 / 20 Pareto Law Principle) - open to exploitation /         targeting

Question No 7.

Answer 1

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Question No 8.

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Question No 9.

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