Explain the following terms as used in marketing management. i. Value (2mks) ii. Want (2mks) iii. Product. (2mks) iv. Marketing management (2mks) v. Marketing segmentation. (2mks)

QUESTION ONE
a. Explain the following terms as used in marketing management.
i. Value (2mks)
ii. Want (2mks)
iii. Product. (2mks)
iv. Marketing management (2mks)
v. Marketing segmentation. (2mks)

b. Discuss five marketing management philosophies. (20mks)

QUESTION TWO
a. Differentiate between micro and macro marketing environments. (4mks)
b. Discuss the major marketing macro-environments. (16mks)

QUESTION THREE
Outline the steps in marketing research process. (20mks)

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Explain the following terms as used in marketing management. i. Value (2mks) ii. Want (2mks) iii. Product. (2mks) iv. Marketing management (2mks) v. Marketing segmentation. (2mks)

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