m1

Question 1

process of continuously and profitably satisfying target customer’s needs, wants, and expectations superior to the competition

Answer 1

marketing

Question 2

are states of felt deprivation, a part of human makeup; these are
physiological necessities

Answer 2

Needs

Question 3

human wants that are backed by buying power.

Answer 3

Demands

Question 4

defined as a condition that motivates a consumer to satisfy the
unmet need.

Answer 4

unsatisfied need

Question 5

indicating preferences which could improve the
consumer’s life condition.

Answer 5

Wants

Question 6

refers to a person who acquires goods or services for direct
use and has no intention of reselling them

Answer 6

Consumer

Question 7

is anything that can be offered to satisfy a need or a want:

Answer 7

Product

Question 8

a work performed for remuneration/pay.

Answer 8

Service

Question 9

a person who identifies the goods and services needed or
wanted by customers and markets them.

Answer 9

Marketer

Question 10

s a person or business that buys goods or avails of services
produced.

Answer 10

Customer

Question 11

it is longterm relationships with valued customers, partners,

Answer 11

Relationship (marketing)

Question 12

is the measure of how well customer expectations from a purchased product or service have been met.

Answer 12

Satisfaction

Question 13

refers to the trade of things or services, or ideas of value between
buyer and seller. Offerings could be money, product, service, or idea.

Answer 13

Exchange

Question 14

it is a place (virtual or physical)
where buyers and sellers meet

Answer 14

Market

Question 15

refers to a trade of values between two parties; it is marketing’s
unit of measurement. (either monetary transactions or barter transactions)

Answer 15

Transaction

Question 16

the most probable and most logical customers and may likewise
be its heaviest customers.

Answer 16

Target Market

Question 17

pertains to the sellers of a
product.

Answer 17

Industry

Question 18

– is closely related to satisfaction; its broad definition: is the ability to satisfy customer needs; its narrow definition: no defects

Answer 18

quality

Question 19

refers to the value customers place on a product or service.

Answer 19

value

Question 20

4P’s

Answer 20

Product, Price, Place, Promotion.

Question 21

A product with useful and attractive features
for the customers

Answer 21

Creating

Question 22

A promotion that will capture the attention of
customers

Answer 22

Communicating

Question 23

A place where customers can conveniently buy
the product

Answer 23

Distributing

Question 24

A price affordable to the customers

Answer 24

Pricing

Question 25

3c's

Answer 25

Customers, Competition, Company

Question 26

aspirations that every company would like to pursue or the general direction it wants to take.

Answer 26

Goals

Question 27

is a potential customer who is interested in the product or service.

Answer 27

sales lead

Question 28

is a symbol, logo, words, or a combination of these elements that a company uses to distinguish its products or services from others.

Answer 28

brand

Question 29

are the specific goals that can be measured in the short term (one year or less) or the long term (more than one year).

Answer 29

Objectives

Question 30

the ability of manufacturers to successfully distinguish their products from other competitors.

Answer 30

branding

Question 31

is the extent to which a brand is recognized by potential customers and is correctly associated with a particular product or service.

Answer 31

brand awareness

Question 32

is the number of sales leads that will ultimately be converted into customers.

Answer 32

Lead Volume

Question 33

is a technique that uses the expertise of people who can provide the best answers to customers’ most challenging questions about the product or service.

Answer 33

Thought leadership

Question 34

4 roles of a marketer

Answer 34

Instigator, Innovator, Integrator, Implementer,

Question 35

marketers serve as strategists who analyze current market trends to guide the actions of the company. This requires them to “think outside the box” and come up with creative ways to change the status quo and gain an advantage over the competition

Answer 35

Instigator

Question 36

marketers are tasked with researching the kind of product the customers need and ensuring that the product developed not only meets customers’ expectations but also exceeds them. The marketer also ensures that their products have an edge over those developed by the competitors.

Answer 36

Innovator

Question 37

marketer mediates between the interests of the company and the needs of the consumers, ensuring that they are integrated into the development of the product.

Answer 37

Integrator

Question 38

this role is more general. The marketer ensures that the marketing strategy for the developed product is in place and implemented effectively.

Answer 38

Implementer