IGCSE Enterprise: Specimen Questions with Answers 49 - 49 of 49

Passage

Case Study -2

Pottery Barn & Sherwin-Williams

Co-Branding Campaign: Color Your Room

  • One of the biggest benefits of co-branding campaigns is the opportunity to expose your product or service to a brand-new audience. that՚s exactly what home furnishing store Pottery Barn and paint company Sherwin-Williams did when they partnered together back in 2013.
  • Together, the two brands created an exclusive product line of paints, and then added a new section of Pottery Barn՚s website that helped customers easily select paint colors to complement their furniture choices.
  • Customers could coordinate paint colors with picture-perfect Pottery Barn furniture for a mutually beneficial partnership – and style assistance for both brands customers to boot. “Paint Landing,” Pottery Barn՚s landing page for the partnership, contains helpful blog posts and how-to ideas for do-it-yourself painting and decorating.

Question 49 (12 of 12 Based on Passage)

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Write in Short

Short Answer▾

State any two purpose of marketing.

Explanation

Marketing as a managerial activity involves analyzing the market opportunities, planning the marketing activities, implementing marketing plans, and setting control mechanisms in such a way that or organizational objectives are accomplished at minimum cost. In other words, marketing is-

  • Understanding consumer needs
  • Environmental scanning and market opportunity analysis.
  • Development of a competitive marketing plan and strategy such that an organization can satisfy not only the consumers needs but also achieve its own objective.
  • Implementation of the marketing plan and development of tactical plans to overcome problems at the market place.
  • Development of control mechanisms.

Developed by: