Q1.

1.1. Briefly define the term marketing in your own words.

1.2. What is meant by (a) Marketplace, and (b) Marketspace?
necessary).

Marketplace: A marketplace refers to a physical or virtual space

where buyers and sellers come together to engage in economic
transactions. An example of a marketplace is a local farmer's
market.
Marketspace: On the other hand, marketspace is a concept that
specifically relates to the online or digital environment where
business transactions occur. An example of marketspace is
Amazon.

1.3. Today's marketplace is not what it used to be. What are the main
factors that affected this change? List at least five factors.

Digital Transformation: E-commerce, online marketing, and digital

communication have become integral parts of the marketplace.

Globalization: Increased interconnectedness and globalization

have expanded markets beyond national borders.

Consumer Empowerment: The rise of social media and online

reviews has empowered consumers with information and the
ability to express their opinions.