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1. Marketing in the modern context goes beyond its immediate role as a process through which exchange of goods and services takes place and is viewed as an integral part of the total socioeconomic system which provides the framework within which activities take place. In reference to the above statement differentiate between micro and macro marketing.

1. Marketing may be defined as a collection of activities undertaken by the firm to relate profitability to its market. How does the continuous development of the different marketing models over the years justify this statement?

1. The four elements of marketing mix are product, price, promotion and place. Each of the elements has sub-components. Describe each of the 4Ps in detail and list down their sub-components.

b) The macro environment of the company consists of broader forces that not only affect the company and the industry but also the factors in the micro environment. Explain how the following factors affect the economic condition in a country.

i) Industrial output trends

ii) Employment trends