a. Distinguish between; (l) primary product and secondary product (ii) market facilitator and market union b. List four market facilitators and state one fu...

Answer Details

a) The following are the distinctions between the terms given:

(i) Primary product refers to the main product that a company produces or sells. On the other hand, a secondary product is a by-product or an accessory product that is associated with the primary product.

(ii) Market facilitators are individuals, organizations, or firms that provide services or resources that aid the activities of marketers. In contrast, market unions are groups or associations of producers or sellers who come together to regulate the market or advocate for their interests.

b) Four examples of market facilitators and their functions are:

1. Advertising agencies - Advertising agencies create and design adverts, which help marketers reach and persuade their target audience.
2. Logistics and transportation companies - These companies provide transportation services and handle the delivery of goods from producers to retailers, which facilitates the movement of goods in the market.
3. Market research firms - These firms provide data on consumer behavior, market trends, and competitors, which enables marketers to make informed decisions about their marketing strategies.
4. Packaging companies - Packaging companies design and produce packaging materials, which protects the products during transportation and storage, and helps to attract and retain customers through eye-catching designs.