1. How does money make the exchange process easier? What would shopping be like if money didn’t exist? The exchange process becomes much easier because instead of having to look for that one person to trade with who may have a need for your item or value, you can simply use the money to buy what you need from anyone with a desire to sell it.
3. How has the Internet changed marketing? The internet has changed marketing to be more effective, for example, marketing online is more effective because you can deliver mail instantly to someone’s email instead of through the post office.
4. Describe the likely target market for a company that sells designer jeans at a shopping mall. Explain the reasoning behind your answer. The target market would be people who wear designer jeans, people who have lots of money and people who want to fit in with everyone else because they don’t care how much it costs as long as they have them.
6. Explain the difference between primary market research and secondary market research. Primary market research occurs when a company conducts new studies to find out more about their market and secondary market research is the study of existing data about the market.
7. What Internet marketing strategy do you think is most effective in influencing a consumer’s purchasing decisions? Print advertisements cost money to produce and have to be delivered either by hand or by mail through the post office to the company’s target market.