Lesson 1: Introduction to Marketing

Question 1

a form of communicating or promoting the value of a product, service, or brand to the consumers.

Answer 1

marketing

Question 2

the simplest, oldest, and natural way of marketing a service or a product for profit and non- profit purposes.

Answer 2

word of mouth

Question 3

“the activity”, set of instructions, and process for creating, communicating, delivering, and exchanging offering that have creation, communication, and the delivery of value customers.

Answer 3

marketing according to the AMA

Question 4

AMA stands for

Answer 4

american marketing association

Question 5

a science and profession guided principally by the universal principles of ethics, corporate citizenship, and corporate social responsibility.

Answer 5

marketing according to the PMA

Question 6

PMA stands for

Answer 6

philippine marketing association

Question 7

the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit..

Answer 7

marketing according to dr. philip kotler

Question 8

marketing identifies

Answer 8

unfulfilled needs and desires

Question 9

defines measures and quantifies the size of the identified market and the profit potential.

Answer 9

marketing according to dr. philip kotler

Question 10

father of modern marketing

Answer 10

dr. philip kotler

Question 11

the art and science of creating tangible products or services and finding the market, getting and retaining them to attain profitable operations.

Answer 11

marketing from academic point of view

Question 12

goals of marketing

Answer 12

understand the market and its consumers and satisfy their changing needs and wants; introduce and innovate products and services that improve human condition and the quality of life; design and implement effective customer-driven marketing strategies; develop marketing programs that deliver superior value of consumers; build and maintain mutually beneficial and profitable customer relationships; capture customer value to create profits; promote value transactions with full regard to the well-being of societies

Question 13

focused on production methods, product quality, and effective selling methods as profit drivers in marketing.

Answer 13

traditional approaches to marketing

Question 14

when was traditional approaches to marketing relevant

Answer 14

late 1960s

Question 15

centered on the customer, relationships, and the well-being of the society.

Answer 15

contemporary approaches to marketing

Question 16

business goal of traditional marketing

Answer 16

profit is prime business focus

Question 17

business goal of contemporary marketing

Answer 17

profit is the outcome of customer delight

Question 18

customer orientation of traditional marketing

Answer 18

customer satisfaction

Question 19

customer orientation of contemporary marketing

Answer 19

total customer experience

Question 20

marketing approach of traditional marketing

Answer 20

focus on promoting offering’s features

Question 21

marketing approach of contemporary marketing

Answer 21

focus on understanding importance of offering in customer’s life cycle

Question 22

marketing tactics of traditional marketing

Answer 22

based on physical aspects of offering like quality, quantity, functionality, availability, price

Question 23

marketing tactics of contemporary marketing

Answer 23

based on educating and understanding customers and thereby creating customer value

Question 24

examples of traditional marketing

Answer 24

fax, exhibitions/conferences, tv, f2f meetings, cold calling, product samples, direct mail, networking, radio, newspapers, outdoor, magazines

Question 25

examples of contemporary marketing

Answer 25

ppc; abm; inbound, affiliate, content, email, social media marketing; marketing automation, online pr, chatbots, seo, native advertisin

Question 26

A process where goods or services are exchanged for money.

Answer 26

selling

Question 27

Activities and plans that are used by companies to promote the buying or selling of a product or service.

Answer 27

marketing

Question 28

selling involves

Answer 28

creating products or services and selling them to customers

Question 29

marketing involves

Answer 29

finding wants of customers and fulfilling them

Question 30

Basically focuses on the wants of the seller and emphasizes more on the products and services.

Answer 30

selling

Question 31

Emphasizes on the needs and wants of the customers.

Answer 31

marketing

Question 32

what does selling identify first

Answer 32

significance of the product/service

Question 33

what does marketing identify first

Answer 33

market

Question 34

how does selling see a business as

Answer 34

process of goods and service production

Question 35

how does marketing see a business as

Answer 35

consumer satisfying process

Question 36

the company and its market are

Answer 36

equally important

Question 37

what gives fulfillment to the company and its market

Answer 37

marketing

Question 38

marketing people should balance:

Answer 38

company’s requirements for profit and desired market share

Question 39

core marketing concepts

Answer 39

markets → needs, wants, and demands → products and services → value, satisfaction, and quality → exchange, transactions and relationships (CYCLE)

Question 40

4ps of marketing

Answer 40

product, price, place, promotion

Question 41

a commodity, produced or built to satisfy the need of an individual or a group. It can be in the form of services or goods.

Answer 41

product

Question 42

basically the amount that a customer pays for to enjoy it.

Answer 42

price

Question 43

why is the price the most critical element of a marketing plan

Answer 43

dictates the company’s survival and profit

Question 44

includes all of the advertising and public relations that make up your promotional strategy for your product.

Answer 44

promotion

Question 45

states where you should sell your product and how it should be delivered to the market.

Answer 45

place