QUESTION

a) Give three reasons why price is a very important element of the marketing mix

b) Discuss the different situations that may lead a company to

1. initiate price cuts
2. initiate price increases

c) Highlight two pricing strategies and give examples of how and when companies could use them

d) Write notes explaining the following distribution strategies

1. Intensive distribution
2. Selective distribution
3. Exclusive distribution

e) Differentiate between a ‘Vertical Marketing System' and a 'Horizontal Marketing System'.