Comments

The question was attempted by almost all the candidates and their performance was also good.
The expected responses to the question include:

5(a) Promotion is the act of bringing a product or service and its benefits to the attention of the prospective customers. /It involves all forms of persuading and informing target customers to arouse their interest to obtain a particular product or service.

5(b) Forms of promotion available to a marketing manager

i. Advertising

ii. Publicity

iii. Personal selling

iv. Packaging

v. Sales promotion

vi. Public relations

vii. Direct mail(marketing)

viii. Point of purchase display

5(c) Functions of Marketing

i. Exchange: Marketing undertakes the purchase of raw materials and goods from source and transfer of ownership of such goods to the consumer at the right quality and price.

ii. Pricing: Marketing helps in fixing prices of goods at a reasonable level to give profit to the company.

iii. Distribution: It ensures that goods produced are moved from the point of production to the final consumers. Middlemen and producers must choose the most suitable means of moving their goods to the point where they are required.

iv. Financing: Marketing finances the operations of the manufacturer through deposits and prepayments made by customers.

v. Risk bearing: Marketing anticipates business risks and takes appropriate measures to reduce their impacts through insurance cover.

vi. Grading and standardising: This ensures that goods conform to the required standard and quality with respect to taste, size and colour.

vii. Warehousing/storage: This makes it possible for goods to be produced ahead of demand when needed.

viii. Marketing research: This involves collection, analysis and interpretation of information on marketing activities for decision making.

ix. Sales promotion: This is a short term technique used to increase sales of products.