CHAPTER 1

Question 1

A societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging goods and services of value with others.

Answer 1

Marketing According to Philip Kotler

Question 2

Set of activities, set of institutions and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners and society at large.

Answer 2

Marketing According to Philip Kotler

Question 3

An organizational function and a set of processes for creating, communicating, delivering value for customers and for managing customer relationships in ways that benefit the organizations and its stakeholders.

Answer 3

Marketing According to Philip Kotler

Question 4

The performance of business activities that directs the flow of goods and services from producer to consumer or user.

Answer 4

Marketing According to Philip Kotler

Question 5

Is the study, planning, implementation and control of programs intended to form, make and preserve equally beneficial exchanges and relationships with the target markets for the reason of reaching organizational objectives.

Answer 5

Marketing Management.

Question 6

Process of planning, executing, and tracking the marketing strategy of an organizations.

Answer 6

Marketing Management.

Question 7

This includes the marketing plan, campaigns, strategies and tactics used to create and meet the demand of target customers to drive profitability.

Answer 7

Marketing Management.

Question 8

TYPES OF MARKET

Answer 8

CONSUMER MARKET
BUSINESS MARKET
INSTITUTIONAL MARKET

Question 9

The group of consumer or organizations that is interested in the product, has the resources to purchase the product, and is permitted by the law to acquire the product.

Answer 9

Market

Question 10

The Physical market where goods and services are traditionally bought and sold.

Answer 10

Marketplace (WALANG SPACE)

Question 11

The virtual market where transactions are conducted online.

Answer 11

Market Space

Question 12

It is also called B2C market that is business to consumer market.

Answer 12

Consumer Market

Question 13

It is the end consumers of various merchandise like products that are purchased by the consumer for their own or household usage that constitutes the consumer market.

Answer 13

Consumer Market

Question 14

This is called B2B market, that is business to business.

Answer 14

Business Market

Question 15

A market where output of one form goes either as raw material, or as processed goods, or as consumable goods into another industry.

Answer 15

Business Market

Question 16

Buyers buy goods to resell at some point of time for profit. What type of market is this?

Answer 16

Business Market

Question 17

The purchase is done by institutions, organizations.

Answer 17

Institutional Market

Question 18

It is not for profit making. It is not for reselling to any third party.

Answer 18

Institutional Market.

Question 19

TEN TYPES OF ENTITIES THAT CAN BE MARKETED.

Answer 19

GOODS
SERVICES
EXPERIENCES
EVENTS
PERSONS
PLACES
PROPERTIES
ORGANIZATIONS
INFORMATION
IDEAS

Question 20

Physical goods constitute the bulk of most countries’ production and marketing effort.

Answer 20

Goods

Question 21

Particularly food, commodities, clothing and housing.

Answer 21

Goods

Question 22

Include airlines, hotels, and maintenance and repair people, as well as professionals such as accountants, lawyers, engineers and doctors.

Answer 22

Services

Question 23

Many market offerings consist of a variable mix of goods and services.

Answer 23

Services

Question 24

By orchestrating several services and goods, one can create, stage and market experiences.

Answer 24

Experiences

Question 25

Marketers promote time-based events, such as the Olympics, trade shows, sport events, and artistic performances.

Answer 25

Events

Question 26

Celebrity marketing has become a major business. Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals draw help from celebrity marketers.

Answer 26

Persons

Question 27

Include economic development specialists, real estate agents, commercial banks, local business associations, and advertising and public relations agencies.

Answer 27

Places

Question 28

Are bought and sold, and this occasions a marketing effort by real estate agents, and investment companies and banks.

Answer 28

Properties

Question 29

Universities, museums, and performing arts organizations boost their public images to compete more successfully for audiences and funds.

Answer 29

Organizations.

Question 30

Actively work to build a strong, favorable image in the mind of their publics.

Answer 30

Organizations.

Question 31

These are schools and universities; publishers of encyclopedias, nonfiction books, and specialized magazines; makers of CDs, and Internet Web sites.

Answer 31

Information

Question 32

Every market offering has a basic idea at its core. In essence, products and services are platforms for delivering some idea or benefit to satisfy a core need.

Answer 32

Ideas

Question 33

FUNCTIONS OF MARKETING

Answer 33

CUSTOMER FINANCE HUMAN RESOURCES PRODUCTION COMPETITION DECISION IDEA ECONOMY

Question 34

Companies need to get the attention of customers through marketing its goods or services.

Answer 34

Customer

Question 35

Manufacturing goods and providing services to customers entails cost.

Answer 35

Finance

Question 36

Are the ones who produce the products or render the services. Must have marketing knowledge to attract customers.

Answer 36

Human Resources.

Question 37

Without marketing items produced would not sell and inventories may turn out yield less.

Answer 37

Production.

Question 38

With marketing, company would be more noticeable and customers would choose to the company than the rest of its competitors.

Answer 38

Competition

Question 39

Manufacturers find it easier and dependable to make use of marketing to their advantage particularly on what to manufacture or trade.

Answer 39

Decision

Question 40

The changes in marketing go along with the fast transformation in tastes and preferences of consumers.

Answer 40

Idea

Question 41

"Nothing happens in our country until somebody sells something" if the marketing function would not be pressured, the economy would become weak.

Answer 41

Economy

Question 42

SCOPE OF MARKETING

Answer 42

1. A consumer wants and needs 2. Consumer Behavior 3. Product Planning and Development 4. Branding 5. Packaging 6. Channels of Distribution 7. Pricing Policies 8. Sales Management 9. Promotion 10. Finance 11. After-sales service

Question 43

THE MARKETING ENVIRONMENT (OUTER CORE) (CLOCKWISE, 12 START)

Answer 43

DEMOGRAPHICS CULTURAL FACTORS SOCIAL FACTORS TECHNOLOGICAL FACTORS ECONOMIC FACTORS POLITICAL FACTORS

Question 44

THE MARKETING ENVIRONMENT (INNER CORE) (CLOCKWISE, 12 START)

Answer 44

COMPETITORS CUSTOMERS EMPLOYEES SUPPLIERS SHAREHOLDERS

Question 45

Marketing creates value for the customers. Therefore, a marketer must have a clear concept of customers' needs, wants and market conditions.

Answer 45

TANDAAN PLS

Question 46

state of felt deprivation.

Answer 46

Human needs

Question 47

3 TYPES OF NEEDS (E - L - I)

Answer 47

EXISTING NEED LATENT NEED INCIPIENT NEED NO S AT THE END OF THE WORD

Question 48

Any need of customers which is short-term and is readily obtainable.

Answer 48

Existing Need

Question 49

A need of customer which is there but has not manifested itself because such a product has not been launched.

Answer 49

Latent Need

Question 50

a type of need which people want but there is no product to satisfy the need.

Answer 50

Incipient Need

Question 51

Are form of human needs influenced by culture and individual personality.

Answer 51

Wants

Question 52

Are the choices to gratify a particular need. Every need can be satisfied by using different options.

Answer 52

Wants

Question 53

Is want for particular products that are supported by the ability and willingness or readiness to buy them.

Answer 53

Demand. WALANG S, WAG KANG 8080 NINA

Question 54

NATURE OF DEMAND (N - N - L - D - I - F - O - U)

Answer 54

NEGATIVE DEMAND NO DEMAND LATENT DEMAND DECLINING DEMAND IRREGULAR DEMAND FULL DEMAND OVERFULL DEMAND UNWHOLESOME DEMAND

Question 55

The product may be helpful but the customer does not like it.

Answer 55

Negative Demand

Question 56

Customers are unaware or uninterested in the product.

Answer 56

No Demand

Question 57

Demand which the customer realizes later. While buying the product, he/she might not want some features on, he/she may reflect on those features and purchase the product.

Answer 57

Latent Demand

Question 58

There is still a demand for the product but decreases over a period of time.

Answer 58

Declining Demand

Question 59

Demand which is not steady. These products sell occasionally and sell more during peak season while exceedingly low during non-season

Answer 59

Irregular Demand

Question 60

Market are pleased with the products and people feel like buying from the same company.

Answer 60

Full Demand

Question 61

Occur when the companies manufacturing capacity is inadequate but the demand is above the supply.

Answer 61

Overfull Demand

Question 62

A demand in which customers should not be using the product, yet the customers desires the product badly.

Answer 62

Unwholesome Demand

Question 63

An overall ability of a product to gratify need and want. It is a guiding concept to select the product. The power of product to satisfy a particular need.

Answer 63

Utility.

Question 64

Means the price of the product or the monetary value of a product.

Answer 64

Cost

Question 65

The charges a customer has to pay to avail certain services.

Answer 65

Cost

Question 66

Is the difference between the customer gains from owning a product and using a product and the cost of obtaining the product

Answer 66

Customer Value

Question 67

refers to what customer wants in a product or service.

Answer 67

Desired Value

Question 68

Is the benefit that a customer believes he received from a product after it was purchased.

Answer 68

Perceived Value

Question 69

Persons' feeling of delight or displeasure as a result of comparing a products perceived performance in relation to his or her expectation.

Answer 69

Satisfaction

Question 70

MARKETING MANAGEMENT TASKS (CM - SM - DM - R - S - MM - D - CM)

Answer 70

CONVERSIONAL MARKETING SIMULTATIONAL MARKETING DEVELOPMENTAL MARKETING REMARKETING SYNCHROMARKETING MAINTENANCE MARKETING DEMARKETING COUNTER-MARKETING

Question 71

It is the duty to create a plan to cause demand to rise from negative to positive and eventually equal the positive supple level.

Answer 71

Conversional Marketing

Question 72

No demand state of a product exists when people are indifferent to such product.

Answer 72

Simulational Marketing

Question 73

Marketing must look for ways to connect the benefits of products with the people's natural needs and interests.

Answer 73

Simulational Marketing

Question 74

Process of effectively transforming latent demand into an actual demand.

Answer 74

Developmental Marketing

Question 75

Marketers must discover the features people might be seeking later and promote them to the customer.

Answer 75

Developmental Marketing

Question 76

A marketer's job in this situation is to think for ways to revitalize the products so that the demand would no longer be declining.

Answer 76

Remarketing

Question 77

When a product's current timing pattern of demand is market by seasonal or volatile fluctuations, its is to bring the movement of supply and demand into better synchronization.

Answer 77

Synchromarketing (WALANG SPACE)

Question 78

The marketing dispute in this type of demand is to continue the same intensity of interest in the product in the company

Answer 78

Maintenance Marketing

Question 79

Reducing the demand. Overfull demand exists when demand for a product begins to outpace the supply substantially. If the company keeps marketing but not able to supply the material, the company may be badly endured in terms of brand equity.

Answer 79

Demarketing

Question 80

Involves Advertising techniques which try to reduce the demand for a product being used.

Answer 80

Counter-Marketing (MAY DASH DAPAT)

Question 81

Typically uses negative messages to stop people from using a product.

Answer 81

Counter-Marketing (MAY DASH DAPAT)