Question 6
(a) The government of your country has decided to ban advertising on television. As a student of commerce, state five reasons this ban should be lifted.
(b) Explain the following terms as used in marketing:
(i) Marketing concept;
(ii) Marketing mix;
(iii) Market segmentation;
(iv) Consumer sovereignty;
(v) Product differentiation.
.
Observation
Most candidates who attempted the question could not relate the part (a) of the question to advantages of television as a medium of advertising. They were able to provide proper responses to part (b) of the question.
The expected responses to the question include:
(a) Reasons for lifting the ban on television advertising
- It is the best form of advertising for demonstrative purposes.
- It enables the audience to see products and hear explanations about them.
- It enables viewers to understand the message of the advertisement faster.
- It enables businesses to market their products locally and internationally.
- It enables television stations to generate more revenue thereby enabling them to pay workers and taxes.
- It creates employment.
(b) Explanation of the following marketing terms:
- Marketing concept refers to the philosophy that the satisfaction of consumers’ needs and wants is the main reason for the existence and survival of a business.
- Marketing mix is the combination of variables offered to the market to influence the behaviour of consumers at a particular time.
- Market segmentation is the division of a market into identifiable submarkets for the purpose of reaching each submarket.
- Consumer sovereignty is a concept that recognises buyers’ needs, tastes and expectations and emphasises that production of goods and services are geared towards consumers’ satisfaction.
- Product differentiation is a practice of offering a company’s product in assorted brands to make the product look different from similar products offered by other companies.