PAPER SOLVED QUESTIONS COMPLETE
ANSWERS BUNDLED RESOURCE
●● Main Goal of Marketing
Answer: To create customer demand
●● Customer Demand
Answer: The desire and willingness of consumers to buy a product or
service
●● Role of Marketing
Answer: To inform, persuade, and remind customers about products
●● Goods
Answer: Physical products that can be touched (e.g., clothes, phones)
●● Services
Answer: Intangible activities or benefits (e.g., haircuts, streaming)
●● Difference Between Goods and Services
Answer: Goods are tangible; services are intangible
,●● Advertising
Answer: Paid promotion to inform and persuade customers
●● Branding
Answer: Creating a unique identity for a product or company
●● Promotion
Answer: Short-term incentives to encourage buying (sales, discounts)
●● Market Research
Answer: Collecting data to understand customer needs and preferences
●● How Marketing Builds Demand
Answer: Creates awareness, interest, and desire for products
●● Inform (Marketing Function)
Answer: Telling customers about a product
●● Persuade (Marketing Function)
Answer: Encouraging customers to buy a product
,●● Remind (Marketing Function)
Answer: Keeping the product in customers' minds
●● Target Market
Answer: Specific group of customers a business aims to reach
●● Customer Needs
Answer: Basic requirements consumers want fulfilled
●● Customer Wants
Answer: Specific desires shaped by culture and personality
●● Value (in Marketing)
Answer: Benefits customers receive compared to cost
●● Competition
Answer: Other businesses offering similar products
●● Why Marketing is Important
Answer: Helps businesses attract customers and increase sales
●● Marketing Plan
, Answer: A detailed strategy outlining how a business will attract
customers and achieve goals
●● Define the Problem
Answer: Identifying the issue or opportunity the business needs to
address
●● Target Market
Answer: The specific group of customers a business aims to reach
●● Why Target Markets Matter
Answer: Helps focus marketing efforts on the right audience
●● Conduct Research
Answer: Collecting information about customers, competitors, and
trends
●● Data Collection Methods
Answer: Surveys, interviews, observations, and online data
●● Analyze Data
Answer: Interpreting data to find patterns, insights, and opportunities