LESSON 5&6 Flashcards by Ysabel Tibajares

Which type of marketing refers to a broad category of marketing strategies focused on selling anything that is not a physical product which includes everything like medical care and spa treatments, to the rental of vehicles and spaces, to experiences like concerts and dance lessons and also tagged as products in general offered in the market, wherein they are abstract in nature?

A. Demand
B. Goods
C. Services
D. Tangible products

SERVICES

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Which of the following refers to a design for the successful operation of a business to identify revenue sources, customer base, products and details of financing and it is a document of a company that is also called as an “Earning Strategy”.?

A. Business Plan
B. Business Model
C. Financial Forecasts
D. Risk Analys

BUSINESS MODEL

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Which among the subsequent marketing strategy that strives to distinguish a company’s products or services from the competition. Successful product differentiation involves identifying and communicating the unique qualities of a company’s offerings while highlighting the distinct differences between those offerings and others on the market.

A. Differentiation
B. Least Cost
C. Niche
D. Product strategy

DIFFERENTIATION

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Refers to “Big Idea” that captures audience interest, influences their emotional response and inspires them to take action. It is a unifying theme that can be used across all campaign messages, calls to action, communication channels and audiences. This is the 2nd step in developing a brand, wherein you are tasked to think of the brand personality, inferences and connotations, color palatte and style sheets, font, visual cues, acceptable uses and materials, and retail replacement. The statement illustrates which of the option?

A. Develop a Brand Strategy
B. Developing the Logo
C. Develop a Creative

DEVELOP A CREATIVE THEME

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Which of the following refers to a contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the lessee, also known as the tenant, use of an asset and guarantees the lessor, the property owner or landlord, regular payments for a specified period in exchange and A business model that is usually good for expensive asset?

A. Lease
B. Rent
C. Sponsorship
D. Subscription

LEASE

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Which of the subsequent is considered as the focal point that collects information and data to distribute accordingly and is an important key of building up the customer experience, which pertains to the atmosphere of the venue, waiting areas, or even the music played?

A. Personnel Training
B. Points of Contact
C. Tangible Momentus
D. User

POINTS OF CONTACT

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Which of the subsequent refers to the value added to the same product under a particular brand which makes one product preferable over others. This is brand equity which makes a brand superior or inferior to that of others. Apple This refers to the value of a brand expressed in Philippine Peso?

A. Brand Label
B. Brand Valuation
C. Brand Equity
D. Economy of Scale

BRAND EQUITY

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Which among the following is an exception in the elements of Logo Design?

A. Color
B. Commit To Memory
C. Incorporate Tradition
D. Think Small

COLOR

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Which of the succeeding is a visual symbol that identifies a product and a symbol of your company’s identity which creates customers’ first impression of the company to send a message to customers about the company’s values, create brand loyalty and give company letterhead, vehicles and signs a more professional appearance?

A. Color
B. Logo
C. Shape
D. Visual Cues

LOGO

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Which of the succeeding refers as a segment of a larger market that can be defined by its own unique need, preferences, or identity that makes it different from the market at large and is a competitive strategy that focuses on a small target market only?

A. Differentiation
B. Least cost
C. Market strategy
D. Niche

NICHE

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Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value for the object identified. The following are the functions of branding. Which is an exception?

A. Branding functions as a legal property
B. Branding functions as a com

BRANDING FUNCTIONS AS AN EVALUATOR

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Which among the following known as product assortment, is the total number of product lines that a company offers to its customers and this talks about the set of products that an industry has to offer?

A. Product Valuation
B. Product sheet
C. Product Branding
D. Product Mix

PRODUCT MIX

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Refers to the number of product line that a marketing entity may have. Below is an example showing a partial map of the length and width of P&G’s product mix, featuring four distinct product lines:

A. Product line
B. Product length
C. Product depth
D. Product width

PRODUCT LENGHT

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Which of the marketing practice creates a name, symbol or design that identifies and differentiates a product from other products and an effective brand strategy gives you a major edge in increasingly competitive markets It is a distinction that can be sensed through signs and symbols?

A. Brand
B. Logo
C.Theme
D. Visual cues

BRAND

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What a form of promotion, often considered PR, where a firm provides support for an event, venture, organization, person or charity by providing money or other resources in order to obtain positive publicity and it is an increasingly common form of promotional activity and it is a covering and promoting products through big personalities and events?

A. Advertising
B. Lease
C. Sponsorship
D. Subscription

SPONSORSHIP

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Which of the product development concept refers formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved?

A. Business Model
B. Business Plan
C. Business Strategy
D. Business Anal

BUSINESS PLAN

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Which of the following explains as a business model that requires a customer to pay a fixed monthly fee, in exchange of goods?

A. Drop shipping
B. Premium Model
C. Rent
D. Subscription

SUBSCRIPTION

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Which of the following pricing technique is a competitive strategy which focuses on a affordable price?

A. Economic pricing
B. Least cost
C. Price Differentiation
D. Prestige p

LEAST COST

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Which is typically manifested as flavors, colors, sizes or formulation for a particular product. An example would be ice cream coming in different flavors such as vanilla and chocolate, with each new flavor expanding the depth of the product even further, as it pertains to variety, products that increase depth actually target the same market?

A. Product line
B. Product length
C. Product depth
D. Product width

PRODUCT DEPTH

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Which of the product mix pertains to the variety of products, in terms of scent, color, sizes, or formulations?

A. Depth
B. Length
C. Line
D. Width

DEPTH

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Which of the subsequent be understood as the course of action or set of decisions which assist the entrepreneurs in achieving specific business objectives and which also serves as blueprint on how the ideas of a business will be executed, like logistics, placement of goods?

A. Business Plan
B. Business Strategy
C. Business Analysis
D. Business M

BUSINESS STRATEGY

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It is a strategy in which certain items in a product line are given special promotional attention, either to boost interest (at the lower end of the line) or image (at the upper end) and which tends to communicate the product line has a good set of products?

A. Line Imaging
B. Product Mix
C. Product Lining
D. Product Featuring

PRODUCT FEATURING

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Lux, Dove, and Lifebuoy are the products made by Unilever Philippines and is categorized under which of the following product mix?

A. Product depth
B. Product length
C. Product line
D. Product with

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PRODUCT DEPTH

Which of the following is the first step in developing a brand, wherein you have to consider the product information, market information, trademark details, and brand name objectives?

A. Creating the Name
B. Developing the Brand Strategy
C. Developing a Cr

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DEVELOPING THE BRAND STRATEGY

Lifebuoy Soap, Sunsilk, Ponds, and Close-up are the products under the category of personal care. The aforementioned products belongs to which of the following marketing mix? | A. Product depth B. Product line C. Product length D. Product width

PRODUCT LINE

A mark of distinction that can be sensed usually in the form of names or terms, signs or symbols, design elements, or even a combination of these, and is utilized for the purpose of identifying and distinguishing the goods or services of one provider from another. The statement completely described which among the following? | A. Brand B. Logo C. Theme D. Visual cues

BRAND

Manufacturing Company like Procter and Gamble produces the following products under the category of Hair Care, Household, Laundry Detergents, and Skin Care even Child Care Needs and Personal Care. The above mentioned products falls into which of the subsequent product mix? | A. Product depth B. Product line C. Product length D. Product width

PRODUCT WIDTH

Which of the following refers to the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output decreasing with increasing scale which also pertains to the reduction in costs of goods when production is ramped up? | A. Economy of scale B. Economy of scope C. Product valuation D. Value Pr

ECONOMY OF SALE

Which part of the business plan refers to the assessment of the external factors of the company, the possible problems, and trends? | A. Competitive Analysis B. Environmental Analysis C. Market Analysis D.

ENVIRONMENTAL ANALYSIS

Great customer experience is personalized, timely, relevant, effortless/simple, seamless, remarkable, memorable, and consistent. Consistency is an important “umbrella quality” in that all the other qualities need to describe your every experience with a brand. What part of building a customer experience, wherein the system is easy to understand and is not complicated? | A. Points of Contact B. System interface C. User Interface D. Well Train

USER INTERFACE

Retailers, especially online retailers can change the price of products based on how customers purchase at different flow of the day. For example, online customers tend to purchase more during office hours 9 am-5 pm, and hence, increasing prices during these hours will be a good idea. Which pricing strategies where a firm varies its prices by the season, the month, the day, the hour? | A. By-product pricing B. Hour pricing C. Meter pricing D. Time pricing

TIME PRICING

Which of the following selling price posted by the manufacturer of a product. Small and large businesses can sell merchandise at prices below the suggested list prices, but selling at higher prices may be difficult, especially in a tough competitive environment or if the product packaging prominently displays the suggested retail price this pricing strategies can affect market share and profitability? | A. Competitive pricing B. Consultative pricing C. Recommended pricing D.

SUGGESTED RETAIL PRICE

Typical examples of which include option packages on new automobiles and value meals at restaurants, companies sell the package for a lower price than would be charged for items individually. The statement illustrates which of the following pricing techniques? | A. Captive product pricing B. Package pricing C. Product bundle pricing

PACKAGE PRICING

The best example is probably a menu at McDonald's: you get a bundle consisting of a burger, fries and a soft drink at a reduced price. Which pricing refers to the collection of products and services that a company chooses to offer its market where this pricing strategies range from being the cost leader to being a high-value, luxury option for consumers? | A. Captive product pricing B. Package pricing C. Product bundle pricing

PRODUCT BUNDLE PRICING

The airline industry will charge for some options like guaranteeing a window seat or keeping a row of seats next to each other. Which pricing strategy is method to determine product costs where a business sets a low cost for its most basic product and then profits from selling more costly accessories? | A. By-product pricing B. Optional Product Pricing C. Package pricing D.

OPTIONAL PRODUCT PRICING

Example of which, where selling a product at or below cost to lure customers in and drive other sales. A restaurant, for example, might offer a low-priced entrée with the purchase of a drink and dessert that have higher profit margins. Which of the subsequent is oriented on separating goods into cost categories in order to create various quality and feature levels in the minds of consumers, also this strategy is typically adopted the market to different customer types or wish to anchor products? | A. Optional Product Pricing B. Product line pricing C. Package pricing D

PRODUCT LINE PRICING

The utility gained by a consumer from owning a diamond-encrusted handbag might arise primarily from the fact that few other people in society can afford to own such an object. Thus, for this consumer, the diamond-encrusted handbag acts as a positional good. Which goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand, resulting in an upward-sloping demand curve? | A. Giffen goods B. High-end goods C. Inferior goods D. Veblen goods

VEBLEN GOODS

Examples of which include automotive companies, bakeries, shoemakers and tailors, as they all create products, rather than providing services. It is the production of products for use or sale using labour and machines, tools, chemical or biological processing or formulation and is the essence of secondary industry. The example given above depicts which of the following? | A. First mover B. Merchandising C. Manufacturing D. Seller

MANUFACTURING

When meat is processed for human consumption, the product can be used as food for dog/cat. So the manufacturer can sell it in market to recover some of his expenses say transportation and storage costs. Which pricing strategy in which this process are also sold separately at a specific price so as to earn additional revenue from the same infrastructure and setup? | A. By-product Pricing B. Product line pricing C. Product length pricin

BY-PRODUCT PRICING

Example of which includes instant noodles, hamburgers, canned goods, and frozen dinners. When people have lower-incomes, they tend to buy these kinds of products. Which of the option refers to a good whose demand decreases when consumer income rises, unlike normal goods, for which the opposite is observed where normal goods are those goods for which the demand rises as consumer income rises? | A. Giffen goods B. High-end goods C. Inferior goods D. Veblen goods

INFERIOR GOODS

The Canadian entertainment company, Cineplex, is a classic example of a firm using the pricing strategy, depending on the age demographic, tickets for the same movie are sold at different prices. Which pricing strategy refers to a microeconomic pricing strategy where identical or largely similar goods or services are transacted at different prices by the same provider in different markets? | A. Discriminatory Pricing B. Demographic pricing C. Economic pricing D.

DISCRIMINATORY PRICING

Relies on the strategy of using low prices initially to make a wide number of customers aware of a new product. Pricing examples include an online news website offering one month free for a subscription-based service or a bank offering a free checking account for six months, which focusing on selling the existing products or services into your existing markets to gain higher market share? Which of the following strategy exemplifies the explanation? | A. Market skimming pricing B. Market penetration pricing C. Market prici

MARKET PENETRATION PRICING

Refers to a type of pricing strategy adopted by companies, usually small and medium-sized retail firms, where a firm initially charges a high price for a product and later, when it has become less desirable, sells it at a discount or through clearance sales. Which pricing methods focus on goals that give direction to the whole pricing process and determining what your objectives are is the first step in pricing. When deciding on pricing objectives you must consider? | A. Pricing strategies B. Price skimming C. Price penetration D. Price hi

PRICE HIGH OR PRICE LOW

Designer clothes, were some manufacturers will deliberately set a high price for designer clothes hoping that the high price will create an impression of a luxury good with better quality. Apple iPhone, iPad products. Apple iPhones are generally more expensive than similar competitors. The stated example depicts which of the following pricing strategy? | A. Penetration pricing B. Premium Pricing C. Overcharging pricing strate

PREMIUM PRICING

A situation in which the customer paid too much, were the customer also regrets paying the money. If you buy something and describe as saying that you paid far too much, which could also mean that you did not get what you expected. Which of the following term can mean a swindle, fraud, or scam, but is usually less serious than those three words? | A. High-value strategy B. Premium strategy C. Overcharging strategy D. R

RIP-OFF STRATEGY

A small business in Vietnam sells handmade bamboo straws. The owner initially determines the price based on how much it costs to produce each unit plus a 30% markup. This pricing approach is best described as which among the following options? | A. pricing based on competitor trends B. cost-plus pricing method C. pen

COST-PLUS PRICING METHOD

A luxury fashion brand raises its handbag price by 20%, but sales remain steady due to high brand loyalty and perceived status. This behavior suggests that the product is: | A. price elastic because of its luxury category B. price inelastic due t

price inelastic due to brand positioning

A tech company in South Korea introduces a new smart device and initially sells it at a low price to build market share quickly. Which strategy are they most likely using? | A. premium pricing B. skimming pricing C. penetration pricing D. psychol

PENETRATION PRICING

A Kenyan coffee exporter charges different prices in the US and UAE markets based on demand levels and local consumer purchasing power. This approach demonstrates which among the succeeding ? | A. dynamic pricing B. cost-plus pricing C. global standard pricing D. ge

GEOGRAPHICAL PRICING STRATEGY

A European airline increases prices during the holiday season when travel demand is high, and reduces them during off-peak months. This strategy is known as: | A. psychological pricing B. everyday low pricing C. seasonal pricing D.

SEASONAL PRICING

An online retailer offers a product for Php99.99 instead of Php100, making it appear significantly cheaper in consumers' minds. This pricing tactic is known as: | A. psychological pricing B. loss leader pricing C. dynamic pricing D. b

A PSYCHOLOGICAL PRICING

A start-up in Indonesia launches a solar-powered lamp and sets the price low, just enough to cover costs, to enter a rural market. The pricing approach is focused on: | A. prestige pricing B. breakeven pricing C. promotional pricing D. geogr

BREAKEVEN PRICING

A smartphone company in India notices that a small increase in price significantly reduces its sales volume. This suggests that its product demand is: | A. static across pricing levels B. based on prestige positioning C. inel

elastic due to the availability of many alternatives

A German automotive company introduces a new electric car at a high price, targeting early adopters who value innovation. They plan to reduce the price gradually as the market matures. This strategy is: | A. skimming pricing B. market penetration C. cost-plus pricing D. demand

SKIMMING PRICING

A fast fashion brand uses pricing based on the amount customers are willing to pay based on trendiness rather than production cost. This is an example of which among the aforementioned options ? | A. bundle pricing B. cost-plus pricing C. value-based pricing D. competi

VALUE-BASED PRICING

LESSON 5&6 Flashcards

(55 cards)