Business Marketing (2nd Quarter)

Question 1

refers to a market
where in the seller sells the product
for a primary reason of making profits
while buyer buys the products for
personal use.

Answer 1

Consumer Market

Question 2

also known as “Business to Consumer” or “B2C”

Answer 2

Consumer Market

Question 3

market where in
the products or services of a
particular organization are sold to or
purchased by other organization or
business.

Answer 3

Business Market

Question 4

also known as “Business to Business” or “B2B”

Answer 4

Business Market

Question 5

It also happens in support industries
where the products that are
manufactured are components
required to be assembled into the
products or services offered by some
other business organization.

Answer 5

Business Market

Question 6

Examples of Consumer Marketing

Answer 6

† Fast Moving Consume Goods
† Consumer Durables
† Soft Goods

Question 7

are items
that are sold quickly to the end-users
generally at nominal costs.

Answer 7

Fast Moving Consumer Goods

Question 8

Goods that a consumer uses for a
considerable amount of time rather than
consuming in one use

Answer 8

Consumer Durables

Question 9

• Refrigerators, and appliances found in the kitchen

Answer 9

White Goods

Question 10

• TV, Consoles, Used for entertainment & fun
• portable

Answer 10

Brown Goods

Question 11

Soft goods are products which have a
shorter lifecycle and their value
decreases after every use

Answer 11

Soft Goods

Question 12

Examples of business Marketing (industrial marketing)

Answer 12

† Bulk SMS service
† Office Furnitures

Question 13

• Bulk messaging (Dissemination of SMS messages)

Answer 13

Bulk SMS service

Question 14

End user will not purchase workstations
for his own use at home

Answer 14

Office Furnitures

Question 15

The act of taking care of customer’s needs by providing and delivering professional, helpful, high-quality assistance.

Answer 15

Customer Service

Question 16

What are the 7 elements of customer service strategy:

Answer 16

1. Create Customer Service Vision
2. Assess Customer Needs
3. Hire the Right Employees
4. Set Goals for Customer Service
5. Train on Service Skills
6. Hold people accountable
7. Reward & Recognize the good service

Question 17

6 pillars of Customer Service:

Answer 17

† Attitude
† Interest
† Action
† Verbal
† Body language
† Tone of Voice

Question 18

Is a system of patronage in which a customer regularly buys their merchandise from a certain client.

Answer 18

SUKI SYSTEM

Question 19

is a partner system of doing business in the Philippines, wherein a customer buys certain products from a particular vendor, offering discounts and other perks for such exclusivity.

Answer 19

Suki

Question 20

_____ do not entertain
consumers who purchase products and
services for their end-use. They deal only with
other businesses/firms to sell their products.

Answer 20

Business marketers

Question 21

In _____, products are sold to
consumers either for their own use or use by
their family members.

Answer 21

Consumer markets

Question 22

Examples of Fast moving consumer goods (2)

Answer 22

1. Aerated drinks
2. Grocery items

Question 23

Examples of soft goods (3)

Answer 23

1. Shirts
2. Clothes
3. Shoes

Question 24

Examples of consumer markets (slide 18)

Answer 24

Food
Drinks
Beverages
Legal
Health and financial services
Clothes
Electronic stuff and its accessories

Question 25

Where buyers purchase products or services for the sake of the consumer instead of buying things to resell it

Answer 25

Consumer markets

Question 26

Utilized by organizations

Answer 26

Bulk SMS service

Question 27

It is used by media companies, enterprises, banks (for marketing and fraud control) and consumer brands for a variety of purposes including entertainment, enterprise and mobile marketing.

Answer 27

Bulk messaging

Question 28

the process of selling your product and services to other businesses, where those products and services will either be used as a raw material for the manufacturing of other products.

Answer 28

Business market

Question 29

a form of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer.

Answer 29

Business-to-business (B2B)

Question 30

B2B transactions can include:

Answer 30

1. A manufacturer and a wholesaler 2. Wholesaler and retailer

Question 31

refers to business that is conducted between companies, rather than between a company and individual consumer.

Answer 31

Business-to-business

Question 32

The first step in creating a customer service strategy is communicating the customer service vision to employees

Answer 32

Create a customer service vision

Question 33

Employees need to understand what the vision and organizational goals are for the customer service and understand their responsibility to help achieve that vision

Answer 33

Create a customer service vision

Question 34

Share a compelling vision for customer service anx teach employees service skills

Answer 34

Create a customer service vision

Question 35

This will result in your employees providing a better customer service experience than an organization that leaves the front-line employees untrained and unprepared for dealing with customer issues

Answer 35

Create a customer service vision

Question 36

Organizations can't meet the needs of consumers without understanding what consumers want

Answer 36

Assess customer needs

Question 37

A customer needs assessment is done by soliciting feedback through focus groups, satisfaction surveys or customer comment cards and developing a comprehensive plan to meet and exceed customer expectations

Answer 37

Assess customer needs

Question 38

Hiring with the right customer in mind is another step in an overall strategy for strong customer service

Answer 38

Hire the right employees

Question 39

Screen employees to ensure that they possess the disposition and skill set to help support a strong customer service environment

Answer 39

Hire the right employees

Question 40

Skills can be taught but attitude and personality cannot

Answer 40

Hire the right employees

Question 41

Once customer needs and expectations are identified and customer satisfaction is measured, it is time to create goals for achieving customer satisfaction

Answer 41

Set goals for customer service

Question 42

If you hire right your employees will have a natural ability to serve your customers well

Answer 42

Train on service skills