marketing

ZIMSEC O Level Business Studies Notes: Marketing: Advantages and Disadvantages of Secondary Research

• There are several disadvantages to secondary research otherwise known as desk research

Advantages of secondary market research

• It is inexpensive/cheap when compared with primary market research
• It avoids duplication of effort
• Information and data is readily available
• Allows the business to quickly and cheaply analyse and compare […]
  

ZIMSEC O Level Business Studies Notes: Marketing: Market segmentation

• this is the process of dividing/dis-aggregating the market into discrete/distinct groups(segments) of customers based on a variety of criteria
• Here the word market refers to the total sum of all of a firm’s customers/consumers
• The words customer and consumer after often used interchangeably in business
• Consumer- is the end user […]
  

ZIMSEC O Level Business Studies Notes: Marketing: Marketing mix

• Refers to a set of marketing tools that the firm uses to pursue its marketing objectives in the target market
• It is used to describe four variable decisions that a business has to make when it is marketing its products
• These variables are also known as the four Ps viz:

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ZIMSEC O Level Business Studies Notes: Marketing:Product

• A product is either a good or a service
• They are the means by which businesses meet the needs and wants of the customers
• Thus a product can be a good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want

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ZIMSEC O Level Business Studies Notes: Marketing: The Product Life Cycle

• The term product life cycle is used to describe the phases through which a product passes from its introduction to decline
• It is a basic fact in business that all products introduced go through a number of phases from their introduction to their eventual elimination
• Generally a product […]