1. The essence of marketing is transaction-the exchange. It is customer and competition oriented and focuses on customer satisfaction. – Describe.

2. Illustrate the concept of the marketing environment. Describe the role of cultural elements and demonstrate how these affect marketing programmes.

3. Franchising has become the increasingly popular business enterprise for all sorts of marketers. Why do you think this is the case? What are the advantages and shortcomings to franchising?

4. Describe the challenges of and strategies for the marketing to Institutional, Government, and International buyers.

5. Find out an advertisement with marketing messages targeted for the institutional market. Examine the ad to find out how the marketer has segmented market, which in the buying centre may be the target of the ad, and what other marketing strategies might be apparent.