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marlene.xii
IB DIPLOMA
Business and Management - HL
Mr. Awi
January 30th 2009
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Review Questions 4.1 – The Role of Marketing
1. Distinguish between consumer ‘needs’ and wants’.
• Needs are the essential necessities that all humans must have in order to survive (such as: foods, shelter, warmth, and water)
• Wants are the desires that humans have.

2. What are the four generic objectives of marketing?
1. Ensure the right products are supplied to fulfill the needs and wants of costumers
2. Set the price so that costumers can afford to buy the product and to ensure that they do not buy from a rival business
3. Distribute the products to place that is convenient for the costumer to make the purchase
4. Ensure that there is adequate and effective promotion to convince costumers to buy from the business.

3. What is ‘market’?
Market is a place or......

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Approximate Word Count: 2002
Approximate Pages: 9 (250 words per double-spaced page)

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