business

21 (12 Marks) [CLO K1 A. Consumer products differ in the ways consumers buy them and, therefore, in how they are marketed. Explain the different types of consumer products. Support your answer with an example for each type. (8 Marks) B. A broad range of market targeting strategies are available to a firm from mass marketing to individual marketing. Briefly explain any two market targeting strategies (4 Marks) Q2 (6 Marks) [CLO K2] Managing the marketing process requires the four marketing management functions to be performed. Briefly explain these four marketing management functions. Q3 (14 Marks) [CLO S1] A. While various factors can affect a business' revenue potential, one of the most important is the pricing strategy utilized by its owners. Companies bringing out a new product face the challenge of setting prices for the first time Discuss the two broad strategies they can choose from. Support your answer with an example in each case. (8 Marks) B. In a service business, the customer and the front-line service employee interact to co-create the service. Thus, successful service companies focus their attention on both their customers and their employees to achieve customer satisfaction. With respect to the above statements, discuss any two strategies other than the traditional marketing strategies that are required by service firms to achieve the above. (6 Marks) Q4 (8 Marks) [CLO S2] Customers are an important force in the micro environment of marketing. Differentiate between any four different types of customers. *Good Luck***