Marketing -331Chapter 21-the four fundamental assumptions of a free market economics are 1-selfinterest 2- complete information 3-many buyers and sellers 4-absence ofexternalities2-the primary functions of advertising in a free economy are to identifyproducts and differentiate them from others .
* to communicate information about the product , it’s features and it’splace of sale .
*induce consumers to try the new product and to suggest reuse*to stimulate the distribution of the product*to increase product use*to build value brand preference and loyalty*to lower overall cost and sales.
3- the book had the comparison between the personal sales and the TVcommercial , and it would only cost about 4 percent the personal salestotal to reach the same population.
5- during the industrializing age the primary burden of marketing fell onthe wholesalers and advertising to consumers was the job of the localretailer and the large .
-during the industrial age wholesalers controlled6-in the postindustrial age maufacturers dedicated themselves to newproduct development streigntened their own sales forcea , packaged andbranded their products , and engaged in heavy national brand averstising .
7- examples of demarketing include energy producing companies, andcalifornie department of health services , demarketing tobacco.
8- companies like al ries and jack trout , were some of the companies thatengaged in marketing warefare.
9- unless a store is in financial trouble and is seeking to terminate it’sbusiness I don’t see how I would be saving at a store that doesn’tadvertise .
10- advertising serves other social needs besides stimulating sales,newspapers , magazines, radio and television , and other websites , allreceive theire primary income from advertising, advetising facilitates thefreedom of the press and provides more complete information .
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