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A typical product life cycle has four main phases: introduction, growth, maturity, and decline.
Required:
Twelve products are listed below. Match these products to the stage they have probably reached in their life cycle, by filling in the following table.
Products:
Table:
| Introduction | Growth | Maturity | Decline |
|---|---|---|---|
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You are the Accounts Officer of Seafarers Cafe, a company that sells cocoa drink to a wide range of consumers. The company sells a cup of cocoa drink for GH¢2.00, which yielded a sales output of 10 million cups for the year ending 2017. As part of a promotional package to celebrate its silver jubilee, the company reduced its price to GH¢1.50, which increased its total sales output to 15 million cups for the year ending 2018.
Required:
i) Calculate the Café’s price elasticity of demand. (4 marks)
ii) Explain SIX (6) factors that might have determined the company’s price elasticity of demand. (10 marks)
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Find Related Questions by Tags, levels, etc.
Brand Marketing Concepts Ltd (BMC) has for five years employed traditional methods of advertising and promotional messages to directly increase sales. The Accounts Officer in his year-end financial report has observed that sales revenue for two of the four products marketed by BMC have seen neither increase nor decrease for the past two years.
Required:
a) What roles can relationship marketing, customer care, and customer service play in increasing sales revenue for the two products marketed by BMC? (15 marks)
b) State FIVE (5) basic principles to be applied to develop customer relationship. (5 marks)
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
a) During the period between September and December 2022, there was a situation of constant price level changes in Ghana. Observers and experts of Economics attributed the situation to market failures which can be demand-side market failure or supply-side market failure.
Required:
Elaborate on the two types of failures stated above.
(5 marks)
b) Positioning is an activity business organisations use to create a mental image of their products in the minds of their target markets.
Required:
Outline FIVE (5) benefits associated with positioning in an organisation.
(5 marks)
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Marketing experts have suggested that businesses, particularly service organizations that desire to have efficient and effective performance and gain competitive advantage, should adopt and apply all the 7 Ps of the marketing mix.
Required:
Explain FIVE (5) of these Ps.
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Penetration pricing and Skimming pricing are the two main pricing strategies used by business organisations.
Required:
i) Differentiate between these two pricing strategies.
(4 marks)
ii) Outline THREE (3) circumstances for which each of these pricing strategies will be appropriate for use by a manufacturing company.
(6 marks)
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You are employed by a local company, AllFresh Ltd, specializing in the production and sales of fresh fruit drinks. At a recent Management meeting, a 3-member team was selected to prepare a marketing plan for the company. Your letter appointing you as a member of the team also specifies that you will be chairman of the team.
Required:
Describe the contents of the marketing plan.
(20 marks)
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Vagen Ltd, a German automobile manufacturer, has completed building an assembly facility in Ghana to manufacture and sell vehicles in Ghana and in other African countries. For the company to gain a foothold in the African market, it carefully applied the penetration pricing strategy and developed clear mission and vision statements to facilitate successful operations in this new market.
Required:
a) Identify FIVE (5) benefits the company would derive from the penetration pricing strategy. (5 marks)
b) Explain the difference between the company’s mission and vision statements. (5 marks)
c) Explain FIVE (5) economic factors that might have influenced the management of the company to locate the assembly facility in Ghana. (10 marks)
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You have been appointed as the leader of a five-member technical committee to prepare a marketing plan for your company, Quality Fresh Drinks Limited, which is well noted for the production and sale of fresh, natural fruit drinks.
Required:
i) Explain the marketing concept to the other members of the technical committee. (4 marks)
ii) Explain FOUR (4) elements of a marketing plan you would recommend to the technical committee. (8 marks)
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Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
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