NABTEB Marketing 2024 Theory — Question 4

Model answer

(a) Four functions the association would perform to its members: i. Market Research: Providing market intelligence, trends, and analysis to help members make informed business decisions. ii. Promotion and Marketing: Promoting member products or services through collective marketing campaigns, trade shows, and advertising. iii. Networking Opportunities: Facilitating connections and collaborations among members through events, conferences, and meetings. iv. Standardization and Certificates: Establishing industry standards, certification programs, and quality control measures to ensure consistency and excellence. (Also acceptable: dispute resolution, information sharing, support services.) (b) Four types of market facilitator: i. Group Buying Agents: They negotiate better prices and terms with suppliers on behalf of association members, leveraging collective purchasing power. ii. Industry-Specific Marketplace: Provides a platform for association members to showcase and sell their products or services to a targeted audience, increasing visibility and sales. iii. Distributors: They purchase products from manufacturers and resell them to retailers or end-users. They often provide additional services such as storage, transportation and customer support. iv. Joint Marketing and Advertising Agencies: They develop and execute marketing campaigns that promote the products or services of association members, increasing brand awareness and driving sales.