Author: KNEC notes and Past Papers

Product refers to anything that can be offered to a market for attention, use, or consumption that might satisfy a want or need. It includes, Services Ideas e.g. consultancy firm on lectures where people purchase your idea and pay e.g. Read More …

Generally, the specific individual marketing mix elements can be used to elaborate more on the specific marketing mix importances Offerings in the market Helps to target the specific individual groups in the country. Assists in message delivery Value creation to Read More …

Finance – the business should consider how much money is to be spent on marketing. Needs of the market – the business should continue to carry out market research as the business grows, as the needs of customers change over Read More …

This is a framework which helps to structure the approach to each market. The mix is a bundle of variables offered to the customer. This is a tactical/operational part of a marketing plan. It is composed of the elements below Read More …

This is the systematic collection of data from the other three systems, the use of tools and techniques with supporting software and hardware by which an organization gathers and interprets relevant information and turns it into a basis for making Read More …

It provides accurate, effective and useful information that is vital for decision making across the entire organization. The decisions include; Size of the market. Customers and their buying motives. Changing trends in the market. Customer satisfaction /dissatisfaction with a product. Read More …

Completeness – it should not leave out important details or procedures of the research. Accuracy – it should report the exact findings of the research without exaggeration. Clarity – should be clear in terms of sentences, expressions and explanations used. Read More …

Definition and identification of research problem: The research problem must be identified clearly and precisely i.e. it must not be ambiguous (contradictory). Determination of the sources of information: It includes both primary and secondary data sources. Determination of data collection Read More …

 1. Exploratory research design This is the most appropriate when there is little or nothing known about a phenomena of study and there is need to gain insight and ideas about a problem e.g. customer surveys to find out customer Read More …

Primary data-this is the information at hand and collected for the first time. Secondary data-this is data available or gathered(collected and analyzed by someone else; published materials, reports, journals and books Methods of Primary Data Collection 1. Observation – it Read More …