Please provide well detailed answers to the following questions. Refer to what was learnt in class in this assignment.

Questions

1. Who should make the pricing decision in a business, the accountant or the marketing director? How the approach to pricing decision might differs?
2. Explain the difference between mass marketing and niche marketing.
3. To what extent might sales forecasts be useful for a business such as Bata.
4. Forecasts may be mis- leading, if there is a recession. Forecasts are notdefinite and can be wrong. What is the value of market research to a business?
5. With the aid of appropriate examples show how important packaging is to the success of a product?
6. Why might demand for a firm's product fall and what action could it take in response to such a situation?
7. What is the importance of "branding" in a firm's marketing strategy? [15]
8. Why is the success of a new product difficult to predict?
9. Why do you feel that price is important as an element of the marketing mix? [8]
10. Evaluate the usefulness of the product life cycle to a company when deciding on the future product mix of its business.