Question 3: 10 marks: The CEO of your company has come upthrough the ranks of production and operations management. Yougreet him in the lift one morning and he comments that the companyprofits are down, therefore he expects to see an improvement insales this month. He says that you, as head of marketing, must geteveryone out there to convince the customers to buy the company’sproducts. His comments concern you because you know that Marketingisn’t only about selling. You decide to request a meeting in whichyou will briefly explain to the CEO. “What exactly is Marketing andhow does it benefit the company?”Limit your answer to a definitionof marketing, a description of customer needs, wants and demands,and a brief commentary on what is meant by ‘customer value andsatisfaction’.
Question2: 10 marks: Name, provide definition and discuss fourmajor sets of variables that might be used in segmenting consumermarkets. Provide an example for each variable
