UNIVERSITY EXAMINATIONS
OCT/NOV 2023
(OTE2601)
ORIENTATION TO TEACHING
ECONOMIC AND MANAGEMENT
SCIENCES
STUDENT NUMBER:
STUDENT NAMES:
100 MARKS
4 HOURS
EXAMINERS:
FIRST: PROF MW LUMADI
SECOND: PROF JC DU PLESSIS
, QUESTION 1
In a proposed marketing plan, everything is included that must be done to convey
the product or service to the consumer and/or the target market. Elaborate on the
4 P instruments or steppingstones that are necessary to make the plan
functional.
(20)
a) The Product may be defined as a combination of utilities which satisfy needs
and are offered by the business to the consumers. The consumers can take
note of it, obtain it and use it. When establishing a new business the
entrepreneur should, in his/ her choice of product, concentrate on consumer
products and these products are immediately available for use.
Consumer products can, depending on their durable qualities
(characteristics) is divided into durable and non-durable products. The
durable products (furniture-wooden table) are used over a long period, while
non-durable consumer products have a short life span (crisps)
These products can, on the basis of consumer purchasing habits, be divided
into convince, selective and speciality products. Convenience products
(groceries) are products which the consumer wants to compare at several
shops for quality, price and style, before deciding on what to purchase.
b) The price may be defined as the amount of money the consumer hands over
in exchange for a product. Price is closely related to the value and use the
consumer obtains in exchange for the money sacrificed. The price of a
product is determined by taking into account, among others, the following
factor:
Demand and supply
The cost price of the products
A reasonable profit
The running cost of the business
c) The place where the business is situated also plays an important role.
Consumers prefer to purchase their necessities at businesses situated near
their homes. Other reasons that contribute towards the popularity of a
business are the following:
Sufficient security
Sufficient parking areas
Large variety of products
Information service available
Reqular specials
OCT/NOV 2023
(OTE2601)
ORIENTATION TO TEACHING
ECONOMIC AND MANAGEMENT
SCIENCES
STUDENT NUMBER:
STUDENT NAMES:
100 MARKS
4 HOURS
EXAMINERS:
FIRST: PROF MW LUMADI
SECOND: PROF JC DU PLESSIS
, QUESTION 1
In a proposed marketing plan, everything is included that must be done to convey
the product or service to the consumer and/or the target market. Elaborate on the
4 P instruments or steppingstones that are necessary to make the plan
functional.
(20)
a) The Product may be defined as a combination of utilities which satisfy needs
and are offered by the business to the consumers. The consumers can take
note of it, obtain it and use it. When establishing a new business the
entrepreneur should, in his/ her choice of product, concentrate on consumer
products and these products are immediately available for use.
Consumer products can, depending on their durable qualities
(characteristics) is divided into durable and non-durable products. The
durable products (furniture-wooden table) are used over a long period, while
non-durable consumer products have a short life span (crisps)
These products can, on the basis of consumer purchasing habits, be divided
into convince, selective and speciality products. Convenience products
(groceries) are products which the consumer wants to compare at several
shops for quality, price and style, before deciding on what to purchase.
b) The price may be defined as the amount of money the consumer hands over
in exchange for a product. Price is closely related to the value and use the
consumer obtains in exchange for the money sacrificed. The price of a
product is determined by taking into account, among others, the following
factor:
Demand and supply
The cost price of the products
A reasonable profit
The running cost of the business
c) The place where the business is situated also plays an important role.
Consumers prefer to purchase their necessities at businesses situated near
their homes. Other reasons that contribute towards the popularity of a
business are the following:
Sufficient security
Sufficient parking areas
Large variety of products
Information service available
Reqular specials
