Introduction To Marketing

Overview

Welcome to the comprehensive course on Introduction to Marketing. This course is designed to provide you with a foundational understanding of marketing principles and concepts essential for success in the business world. Marketing is a dynamic field that plays a vital role in connecting businesses with customers, creating value, and driving growth.

In this course, we will explore the core concept of marketing and its significance in the business context. We will delve into the fundamental terms and principles in marketing, including needs, wants, demands, products, exchange, transactions, and markets. Understanding these basic terms is crucial as they form the building blocks of marketing strategy and execution.

Furthermore, we will take a closer look at the historical development of marketing in Nigeria. By examining the evolution of marketing practices in the Nigerian business landscape, we can gain insights into the unique challenges and opportunities that have shaped the marketing industry in the country.

One of the key objectives of this course is to familiarize you with the functions of marketing in a business setting. From product development to market research, distribution, pricing, and promotion, marketing encompasses a wide range of activities that are essential for achieving organizational goals and satisfying customer needs.

By the end of this course, you will have a comprehensive understanding of the role of marketing in business, the key principles that guide marketing strategies, and the historical context in which marketing has evolved in Nigeria. Whether you are a seasoned business professional or someone looking to enter the world of marketing, this course will provide you with the knowledge and insights needed to succeed in the dynamic and competitive field of marketing.

Objectives

  1. Explore the historical development of marketing in Nigeria
  2. Understand the functions of marketing in a business context
  3. Identify and explain the key terms and principles in marketing
  4. Understand the concept of marketing and its importance in business

Lesson Note

Marketing is an essential aspect of any business, whether small or large. It involves various activities and processes that help in promoting, selling, and distributing a product or service. Effective marketing ensures that the target audience is well aware of what a business has to offer, creating a bridge between the company and its potential customers.

Lesson Evaluation

Congratulations on completing the lesson on Introduction To Marketing. Now that youve explored the key concepts and ideas, its time to put your knowledge to the test. This section offers a variety of practice questions designed to reinforce your understanding and help you gauge your grasp of the material.

You will encounter a mix of question types, including multiple-choice questions, short answer questions, and essay questions. Each question is thoughtfully crafted to assess different aspects of your knowledge and critical thinking skills.

Use this evaluation section as an opportunity to reinforce your understanding of the topic and to identify any areas where you may need additional study. Don't be discouraged by any challenges you encounter; instead, view them as opportunities for growth and improvement.

  1. What is the definition of marketing? A. Selling products B. Creating advertisements C. Building customer relationships D. Managing financial transactions Answer: C. Building customer relationships
  2. Which term refers to a state of felt deprivation of some basic satisfaction? A. Wants B. Demands C. Products D. Markets Answer: A. Wants
  3. Which of the following involves the act of obtaining a desired object by offering something in return? A. Wants B. Demands C. Exchange D. Transactions Answer: C. Exchange
  4. What is the term used to describe the set of actual and potential buyers of a product? A. Needs B. Wants C. Markets D. Products Answer: C. Markets
  5. Which of the following is NOT a basic term in marketing? A. Transactions B. Channels C. Exchange D. Markets Answer: B. Channels
  6. What is the historical origin of marketing in Nigeria primarily attributed to? A. Colonial influences B. Indigenous trade practices C. Independence movements D. Globalization Answer: A. Colonial influences
  7. Which of the following is NOT a function of marketing? A. Production B. Promotion C. Pricing D. Distribution Answer: A. Production
  8. What is the importance of marketing in a business context? A. It reduces customer base B. It increases costs C. It adds value to products D. It decreases competition Answer: C. It adds value to products
  9. Which element of the marketing mix involves communicating the value of a product to customers? A. Product B. Price C. Place D. Promotion Answer: D. Promotion
  10. What is the key focus of marketing activities in a business? A. Maximizing profits B. Customer satisfaction C. Employee motivation D. Government regulations Answer: B. Customer satisfaction

Recommended Books

Principles of Marketing
Principles of Marketing
Subtitle An African Perspective
Publisher Pearson
Year 2019
ISBN 978-1775783453
Marketing Management
Marketing Management
Subtitle South African Perspective
Publisher Juta & Co Ltd
Year 2016
ISBN 978-1485111982

Past Questions

Wondering what past questions for this topic looks like? Here are a number of questions about Introduction To Marketing from previous years

WAEC SSCE - Marketing - 2022 (Click to take full assessment)

Question 1 Report

(a) Explain the following terms in marketing: (i) needs;  (ii) wants; (iii) exchange; (iv) demand  (v) transaction.

(b) Okon Enterprises Ltd sells electronic appliances at his retail
outlet at No. 4 Okeke Adamu Street, Lagos. Telephone No. 06012345678. He intends to offer 15% discount to encourage the sales of his newly introduced Blenders, Television and Radio sets. You are
required to design a sample of a handbill showing the products with the advertising message.

View Answer
Practice a number of Introduction To Marketing past questions