Question

1. What are the three key responsibilities of a marketing manager? 

2. What are the major components of marketing research? 

3. What steps should you follow to collect information for marketing research? 

4. What are the 4P’s? 

5. What are some other important factors beyond the 4P’s? 

6. How can one “segment” the market? Why is segmentation important? 

7. What is marketing strategy? 

8. When dealing with “marketing reality,” what are the three questions that need to be addressed?
9. Why would a company need to forecast sales? 


Answer 1

Here are the 3 major activities

Strategy planning - The marketing manager along with the support of senior members of the board and marketing departments sets marketing strategies for both business to business activities and business to consumer activities.

Market Research- The marketing department carries market research with the leadership and guidance of the marketing manager. Market research is important in order to devise specific marketing strategies and helps in gaining insight on the currents opportunities and the threats in the market.

Product development - The marketing manager and the marketing department help the product development team to either create new product or to improve am existing product through market research. Once the product development teams develop a product, the marketing manager and the department sets appropriate prices for the products with thorough research. Afterwards they prepare to launch the products.