Topics in CommercePrinciple of Marketing: Positioning as a Marketing Mix Principle of Marketing: Packaging as a Marketing Mix Elements of Promotion in Marketing Mix Principle of Marketing: Promotion as a Marketing Mix Principle of Marketing: Place as a Marketing Mix Principle of Marketing: Price as a Marketing Mix Principles of Marketing: The 7 Ps of Marketing Mix Factors necessary for Division of Labour Disadvantages of Division of Labour Advantages of Division of Labour Outbound Marketing explained Inbound Marketing explained Production - Types of Production Commerce: Definitions and Scopes of Commerce Differences between Balance of Trade and Balance of Payments Balance of Payment Deficit and Balance of Payment Surplus Disadvantages of Foreign Trade Divisions of Foreign Trade Advantages of Foreign Trade What is Foreign Trade? Types of Foreign Trade
Academic Questions in Commerce
The followings are principles of marketing mix except _____.
C. Pressure group
The followings are advantages of division of labour EXCEPT _____.
Which of the following statement is incorrect concerning division of labour?
What does a bearer cheque mean?
What is an order cheque?
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Marketing is defined as any activity or process aimed at getting people interested in a product. The marketed products will always be in the form of goods and services.
The process of marketing can be effectively achieved in 2 ways. These are:
Note: Outbound Marketing is the opposite of Inbound Marketing.
In outbound marketing, your customers don't search for you; instead, you take all necessary steps to locate and find them.
Outbound activities are always carried out outside the organization. It include all the activities that provide information to the market. The main information provided to the market include the availability of products, reasons why such products are of best quality and their prices.
You always seek your customers in outbound marketing.
Outbound marketing also includes those activities that will put a product into the competitive market in an attempt to encourage consumers towards buying such product.
In reality, outbound marketing is quite difficult to track and will likely yield lesser profits; (when compared to inbound marketing). It had always been long used as a marketing strategy even before the evolution of the internet. To this end, various organizations allocate funds (which can be quite huge) to accomplish outbound marketing.
For instance, when you see or listen to advertisments on your favorite television and radio programs, that's outbound marketing because you didn't search for it. As a result, your chances of being disinterested in the advertisments can be significantly high.
The various traditional means of marketing are typical examples of outbound marketing. They include:
Note: Advertisments on websites and social media platforms is considered a modern means of advertising. It falls under inbound and outbound marketing depending on how you look at it. In this case. It's considered as outbound marketing if the advertisment search isn't initiated by the user or from the online activity on the user. To this end, you may see different kinds of advertisment on various website which may not be of interest to you since you didn't initiate them.
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Alfred Ajibola is a Medical Biochemist, a passionate Academician with over 7 years of experience, a Versatile Writer, a Web Developer, a Cisco Certified Network Associate and a Cisco CyberOps Associate.
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Amazing facts in Commerce
Amazon is an e-commerce website launched in 1995. It did not make any profit for its first seven years.
Amazon's first profit was in 2003. Its founder 'Jeff Bezos' is the richest man in the world as at 2018/2019
NOTABLE POINTS IN Commerce
Commerce can be defined as the exchange of goods and services, usually for money and on a large scale that will require the transportation of such goods and services.
Commerce is crucial (important) to the life of any Nation for the following reasons:
A public company is not owned by an individual; rather it's usually owned by groups or a large number of people.
The shares of a public company are traded freely on the stock exchange.
Below are some features of a public company:
There are seven elements of the marketing mix. These are:
Think of marketing mix as the set of marketing tools that an industry or company uses to drive or accomplish its marketing objectives in the target market