1)Explain what a product is. Identify the main branding strategies.

Thus services,activities,people (politicians,athletes,film stars),places (holiday resorts),organizations

(hospitals,colleges,political parties),and ideas,as well as physical objects affered for sale by
retailers,can be considered as products.
Branding strategies:
-benefits such as customer advice,delivery,credit facilities,a warranty or guarantee,maintenance,aftersales service,and so on.
-some manufacturers use their name for all their products(e.g. Philips,Colgate,Yamaha)
-most manufacturers produce a large number of products,divided into product lines
2)Distinguish among the selling and marketing concepts. Identify the market opportunities.
The selling concept assumes that resisting consumers have to be persuaded by vigorous hard-selling
techniques to buy non-essential goods or services.
The marketing concept ,on the contrary,assumes that the producers task is to find wants and fill
them,so,you dont sell what you make,you make what will be bought.
The market opportunities are:
-profitable possibilities of filling unsatisfied needs or creating new ones in areas in which the company
is likely to enjoy a differential advantage
-once a target market has been identified,a company has to decide what goods or services to offer
-the company must also take account of the existance of competitors,who have to be
identified,monitored and defeated in the search for loyal customers.
3)State the importance of market research. Delimit consumer market from producer
market.
Most companies undertake market research,so they collect and analyse information about the size of a
potential market,about consumers reactions to particular product or service features,and so on.
Consumer markets(in which people buy products for direct consumption)
Producer market is consisting of all the individuals and organizations that acquire goods and services
that are used in the production of other goods,or in the supply of services to others.
4)Specify the relationship between the marketing mix and the external forces.
Marketing mix consists of all the various elements of a marketing programme,their integration,and the
amount of effort that a company can expend on them in order to influence the target market.All the raw
materials, manufactured parts and components thet go into consumer goods,plus capital equipment ,
energy, pens and paper,etc. are external force,used for production,so,the relationship between the
marketing mix and the external forces is that there are more industrial than consumer marketing,and
the marketing mix is large.
5)Identify the different advertising media. Describe the most popular and efficient types of
advertising.
The different advertising media :
-billboards
-radio
-TV
-sponsorship advertising
-classified advertising
-sandwich board
-cinema
-posters
-mail
-word-of-mouth advertising (the best form of advertising)
6)Explain the importance of hiring an advertising agency. What are the responsibilities
of both the client company and the agency?
Companies tends to use the services of large advertising agencies.The advertising agencies have
more resources and more knowledge about all the aspects of a publicity. Also,the most talented
people work in agencies like this than in a big companies that prefer to have their own
department of advertising.

The client company gives the advertising agency an agreed budget,a statement of the objectives
of the advertising campaign,and an overall advertising strategy concerning the message to be
communicated to the target customer.
The agency creates advertising and develops a media plan specifying which
media(TV,radio,newspapers) will be use and in what proportions.
7) Outline the major promotional tools. Explain what promotion mix is.
The four promotional tools are:advertising,sales promotions,public relations and personal selling.
Every tool have their own role in the success of a company.
Public relations is concerned with maintaining,impoving or protecting the image of a company.
Sales promotions such as free samples,coupons,price reductions,and others are designed to
stimulate stronger sales of a product.
Personal selling is the most expensive promotional tool.The salespeople have a huge
importance.Since they are often the only person that the consumer see,they can obtain easily the
information about what a consumer need or want.
All of this are part of the promotional mix.All of that can easily create a good image and make a
company successful

8) Speak on market structure and competition.

The market consist of:
Market leader-the biggest company on the market with the biggest market share.
Market challenger-the second biggest company in the industry
Market followers-smaller companies

9)Analyze the connection between business ethics, profits and social responsibility.
Since 1920,many large corporations began to establish pension funds,employee stock ownership
and so on.They built houses,churches,schools and others.This is fairly surprising behavior for
business corporations but,even that dont bring immediate cash benefits ,the companies avoid
legitimacy problems.
10) Speak on the rate of unemployment in our country. Provide some solutions to the currently
high rates of unemployment. Explain the meaning of the expressions: agency workers, casual
employment, contract workers.
agency workers-the agency hire the workers and find them a job
casual workers-the worker,who works for a period of time(hour/day/season)
contract workers-the workers,who work in base of a contract
11)Specify the responsibilities of the government in a country.

The government should be responsible for education,working conditions,social

security,defence,the police,the justice system,traffic regulations etc.
12)Do you see the government a necessary institution spending taxpayers money
or as a powerful institution limiting your freedom?
13)Explain what causes a business cycle and outline its trends.

Business cycle results from people infecting one another with optimistic or pessimistic
expectations. When economic timesare good they spend and run up debts.If people are
worried about the possibility of losing their jobs they tend to save more.All depend on millions
of decision by consumers on wether to spend,borrow or save.
1.
2.
3.
4.
5.
6.

Depression
Trough
Upturn or recovery
Peak
Downturn
Boom

14)State the importance and growth of international trade. Explain what protectionism is.

protectionism-imposing trade barriers in order to restrict imports

-government impose quotas and tariffs