03/08/2022
NECO MARKETING SOLUTIONS
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MARKETING OBJ
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(3a)
Marketing mix is a collection of controllable factors that can be used to influence the behaviour of customers . In other words, marketing mix is a combination of controllable variables such as price,product, distribution place and promotion which spells out the marketers strategy to satisfy the needs of the consumers and to increase the sales of the goods.
(3bi)
Demography:Demography in marketing is the study of human populations in terms of size, density, location, age, s*x, race and occupation. Demographic environment is a term used by marketers to describe the characteristics of a population that can be used to influence the success of a business or commercial venture. The most important demographic factors for businesses include age, s*x, income, education level, and occupation
(3bii)
Economic environment: Economic environment consists of all factors such as salary levels, credit trends and pricing patterns that affect consumer spending habit and purchasing power. This refers to the purchasing power of potential customers and the ways in which people spend their money. The four stages of the Economic cycles are prosperity, recession,depression and recovery.
(3biii)
Technological environment : Technological environment is the fastest changing factors in the economic macro marketing environment. This includes all development from antibiotics and surgery to nuclear missiles and chemical weapons to automobiles and credit cards. It also requires a company to stay ahead of others and update their own technology as it becomes outdated.
(3biv)
Political legal environment: Political legal environment in includes all laws, government agencies and lobbying groups that influence or restrict individuals or organisations. It is important for marketers to be aware of these re