Introduction to Marketing

Question 1

What is Marketing?

Answer 1

Process of Communicating and giving value to consumers

Question 2

What is the organization?

Answer 2

Business

Question 3

What are stakeholders?

Answer 3

Consumers

Question 4

What is the aim of marketing?

Answer 4

Make selling unnecessary

Question 5

Goals of Marketing

Answer 5

Promote value, satisfy the changing needs and wants of consumers

Question 6

Explain the Marketing System

Answer 6

-

Question 7

What is outer loop?

Answer 7

exchange of information and communication

Question 8

What is inner loop?

Answer 8

Exchanging goods and services for money

Question 9

What is being marketed?

Answer 9

Products are intangible and tangible goods that are being marketed?

Question 10

Examples of tangible goods?

Answer 10

Goods, products

Question 11

Examples of intangible goods

Answer 11

Ideas, knowledge

Question 12

Function of marketing

Answer 12

Develop a product

Question 13

1970s-1980s (Customer Management)

Answer 13

Tha main goal is to know the customers

Question 14

1990s-2000s (Brand Management)

Answer 14

Focused human emotions, brand equity

Question 15

Traditional Approach to Marketing

Answer 15

Traditional means to market the business

Question 16

Contemporary Approach to Marketing

Answer 16

Modern techniques, social media

Question 17

What are the needs?

Answer 17

Basic forces that motivate a person to do something

Question 18

Real needs

Answer 18

Need mo ng phone kasi nasisira na

Question 19

Light needs

Answer 19

Masaya ka pag nakuha mo yung phone kasi madaming freebies

Question 20

Secret needs

Answer 20

Ayaw mo ng ibang phone, kasi iPhone lang gusto mo

Question 21

Physiological Needs

Answer 21

Needs to survive (food, water)

Question 22

Safety Needs

Answer 22

Health and security (love)

Question 23

Self Actualization

Answer 23

achieving one’s full potential

Question 24

PSSP Hierarchy of Needs

Answer 24

Personal, Social, Safety, Physiological

Question 25

What are wants?

Answer 25

“Needs that are learned during a persons life due to factors such as culture

Question 26

What are demands?

Answer 26

Wants that are backed with purchasing power

Question 27

Strategic Marketing Process

Answer 27

Narrowing to best opportunities and developing a strategy

Question 28

Business setting analysis (internal environment)

Answer 28

Vision and mission, portfolio, financial analysis

Question 29

External Environment Analysis

Answer 29

outside the business and is beyond the control

Question 30

PESTEL (Political)

Answer 30

Government intervenes with the industry

Question 31

PESTEL (Economic)

Answer 31

Is the market growing or shrinking?

Question 32

PESTEL (SOCIAL)

Answer 32

Interests, demographics, lifestyle of the market

Question 33

PESTEL (Technological)

Answer 33

New technologies that are changing the business world

Question 34

PESTEL (ENVIRONMENTAL)

Answer 34

Weather, Climate change

Question 35

PESTEL (Legal)

Answer 35

Laws that are enforced, legal basis for consumer protection

Question 36

Porter’s 5 Forces

Answer 36

evaluating the strength and position of a business organization

Question 37

Competitive Rivalry

Answer 37

h&m, bershka, nike

Question 38

Bargaining power of suppliers

Answer 38

uniqueness of supplier’s products (24chicken, frankies)

Question 39

Bargaining power of buyers

Answer 39

magaling sila tumawad

Question 40

Threat of substitution

Answer 40

consumers finding a way of doing what you do

Question 41

the threat of new entrants

Answer 41

ability of other companies to enter the industry