Marketing Flashcards
(84 cards)
1
Q
Give one of the 3Cs in marketing.
A
Customer, competition, company
2
Q
One of the key result areas for the 3Cs in marketing
A
Sales, market shares, profit
3
Q
This type of utility is created when the goods are transferred or placed under the control of the persons who desire to use them.
A
possession utility
4
Q
Defined as the process of continuously and profitably satisfying the target customers’ needs
A
marketing
5
Q
Defined as the series of services in moving a product from point of production to the point of consumption
A
marketing
6
Q
Taken as the point of usual first sale by the farmer
A
Point of production
7
Q
This is the point where marketing ends
A
Point of consumption
8
Q
Defined as the process of making useful goods and services
A
utility
9
Q
This type of utility is created when the goods possess the required properties
A
form utility
10
Q
This type of utility exists when the product is made available to where they are most wanted.
A
place utility
11
Q
This type of utility is created when the product is when made available when they are most wanted.
A
time utility
12
Q
This consists group of customers who share similar set of wants
A
market segment
13
Q
This is done to homogenize markets
A
segmentation
14
Q
This refers to those identified to have a certain need and want which a company can effectively serve.
A
prospects
15
Q
This is defined as the basic human requirements
A
needs
16
Q
This is described as the need which require specific objects to satisfy that need
A
wants
17
Q
These are wants for specific products backed by an ability to pay
A
demand
18
Q
This is a state of demand in which a major part of the market dislikes the product and may even pay a price to avoid it
A
negative demand
19
Q
This is a state of demand in which consumers may be unaware or uninterested in the product
A
no demand/non-existing demand
20
Q
This is a state of demand in which in consumers may share a strong need that cannot be satisfied by an existing product
A
latent demand
21
Q
This is a state of demand in which consumers decrease purchases of the product or there is lesser consumer buying the product
A
declining/falling demand
22
Q
This is a state of demand in which consumers’ purchases vary according to season, day or time
A
irregular demand
23
Q
This is a state of demand in which consumers are adequately buying all products placed in the market. The organization is pleased with the volume of the purchase.
A
full demand
24
Q
This is a state of demand in which the demand is higher than what an organization can handle. There are too many consumers who would want to buy the product
A
overfull demand
25
This is a state of demand in which consumers may be attracted to buy products that have undesirable social consequences
unwholesome demand
26
This is defined as the set of actual and potential buyers of the product
market
27
This is defined as the physical place where actual exchanges are done
marketplace
28
This is defined as the digital market
marketspace
29
This is a type of market in which companies are selling mass consumer goods and services
consumer markets
30
This is a type of market in which business buyers buy goods in order to make or resell a product to others at a profit
business market
31
This is a type of company orientation towards the market place in which businesses concentrate on achieving high production efficiency, low cost and mass distribution
production concept
32
This is a type of company orientation towards the market place in which the business holds that consumer will favor products that offer the most quality, performance, or innovative features
product concept
33
This is a type of company orientation towards the market place in which the company orientation holds that consumers and businesses will ordinarily not buy enough of the organization's products, therefore the organization must undertake aggressive selling and promotional effort
selling concept
34
This is a type of company orientation towards the market place in which the company orientation holds that the key to achieving organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior value to its chosen target markets
marketing concept
35
One of the 4 pillars of marketing concept
target market, customer needs, integrated marketing, profitability
36
This is described company's departments work together to serve the customer's interests
integrated marketing
37
This is defined as anything offered for sale, attention, and acquisition
products
38
Give one of the 3 forms of a product
goods, services, ideas
39
This is defined as the consumer's estimate of the overall capacity of the product to meet desired needs and wants
value
40
This is the end result when a product is able to meet customer expectations
satisfaction
41
This takes place if there are 2 parties who are willing to exchange products and services; each party is capable of communication and delivery; each party has something to offer for exchange
exchange
42
This is defined as trade of values between two or more parties
transaction
43
Give one kind of marketing channels used to reach a target market
communication, distribution, service
44
This is another term for the supply chain
value delivery system
45
This refers to the monitoring and evaluating of external marketing environments and all factors which can possibly reshape target markets
environment scanning
46
This refers to trends in the vital statistics of a population such as birth rates, death rates, age group totals
demographic trends
47
This refers to, in a business, a firm's concern for the way its decisions affect society
corporate social responsibility
48
Give one of the 4 Ps in marketing mix
product, price, promotion, place
49
Give one of the 4 Cs in marketing mix
customer satisfaction, cost, convenience, communication
50
This is the sum total of all operations involved in the manufacture and distribution of farm supplies; production activities on the farm; and the storage, processing, and distribution of farm commodities and items made from them
agribusiness
51
This is the set of activities that enable different parties to have physical possession of a product, including assembly, storage, grading, processing, and transportation
Physical handling and distribution of products
52
This encompasses activities that create faster and more efficient performance of transactional and physical handling tasks, including market intelligence, financing, and promotions.
Facilitating activities
53
This is the beginning stage of the agribusiness marketing chain, involving manufacturers, dealers, brokers, and other intermediaries responsible for the production and distribution of farm and agro-processing inputs.
Input sector
54
This sector includes primary and secondary agricultural factories that produce raw materials for consumption and further processing, typically involving farmers and multiple layers of middlemen
Farm sector
55
This sector handles processed products, regardless of scale, which are typically marketed through intermediaries dealing with semi-processed or finished agro-based goods
Processing sector
56
These are entities that provide services to enhance the performance of production and marketing functions, such as technical assistance, financing, warehousing, and market information dissemination
Agroservices
57
This sector links the other sectors of the agribusiness marketing system, facilitating the physical movement of products from one sector to another, often through middlemen
Marketing sector
58
These middlemen are rural traders or barrio buyers who accumulate produce from individual farmers and bulk it for storage or distribution to wholesalers
Assemblers
59
These are middlemen who handle products in bulk or large volumes, selling to retailers, processors, or other wholesalers, but not directly to end-users.
Wholesalers
60
These intermediaries deal directly with end-users or large consumers, partnering with wholesalers in distribution activities
Retailers
61
These middlemen negotiate on behalf of producers and buyers, functioning mainly as intermediaries who connect the two parties
Agents and brokers
62
These are key activities in the agribusiness marketing system, including negotiation, assembly, grading, storage, processing, and packing/packaging
Marketing functions
63
This function facilitates the transfer of ownership by bringing sellers and buyers together to arrange sales agreements
Negotiation
64
This is done by an intermediary to accumulate the produce of many small farmers or producers to attain the desired volume
Assembly
64
Although often not considered a marketing activity, this process is essential for transforming agribusiness products before they are made available to users, increasing their marketability.
Processing
65
This is necessary due to variability in agricultural outputs, ensuring standardized measurements in terms of size, weight, and quality before selling, storing, or pricing
Grading
66
This is primarily done to make goods available when needed, either for processing or consumption
Storage
67
This involves the total product presentation and is essential for protecting the product, prolonging shelf life, and making products appealing to buyers
Packing/Packaging
68
This is crucial in handling all market-related costs and problems, especially in situations where transportation costs are high and careful handling is required due to the bulk and perishability of products.
Financing
69
This is associated with the potential losses incurred from business operations, which may be due to natural causes or changes in the costs of raw materials and product prices.
Risk-taking or risk-bearing
70
This activity ensures that the product aligns with end-user demands, involving the collection, interpretation, and dissemination of essential data for marketing processes
Market intelligence
71
This involves evaluating possible marketing channels and alternative ways of performing marketing functions, helping assess the market potential for new products
Market research
72
This is a continuous marketing function aimed at informing prospective buyers about product availability and increasing sales.
Demand creation/Promotion
73
This is necessary to make informed decisions about pricing, transportation, storage, and assembling adequate programs based on good information and market trends.
Market intelligence/Market research
74
What is one of the specific issues in agricultural/agribusiness marketing mentioned in the content?
A. Low farmers' prices level of agricultural produce/price squeeze
B. Variability in quality of agricultural products in the market
C. High prices of agricultural produce
D. Lack of relevant market information
A
75
What is a reason for farmers' dependence on middlemen in the production and market processes?
A. Increasing importance of harvesting process
B. Lack of participation in the production and market
C. Smallness of scale of operations
D. Awareness of producers
C
76
What is a marketing consideration mentioned for fresh farm products?
A. Competition due to many traders handling the same products
B. Poor perceived access to major buyers markets
C. Product strategies
D. Inefficiency in produce to market processes
C
77
What is a consequence of the irregularity of market infrastructure in agricultural/agribusiness marketing?
A. High prices of agricultural produce
B. Variability in quality of agricultural products in the market
C. Competition due to relatively many traders handling the same products
D. Lack of relevant market information
C
78
What is a challenge faced by traders at the consumers' level in agricultural/agribusiness marketing?
A. Lack of relevant market information
B. Low farmers' prices level of agricultural produce/price squeeze
C. Variability in quality of agricultural products in the market
D. High prices of agricultural produce
C
79
What type of changes are made to physical products to make them more attractive and saleable to consumers?
A. Lack of participation in the production and market
B. Awareness of producers
C. Product strategies
D. Smallness of scale of operations
C
80
What is one of the strategies mentioned in the content to improve distribution of farm products?
A. Production scheduling
B. Reducing quality
C. Increasing prices
D. Expanding promotion
A
81
Which factor makes setting prices for fresh agricultural products difficult according to the content?
A. Competitive market nature
B. Limited supply
C. Low demand
D. Government regulations
A
82
What is defined as the value of a product expressed in monetary terms?
A. Promotion
B. Quality
C. Price
D. Distribution
C
83
What strategy is commonly adopted by everyone in terms of pricing fresh agricultural products?
A. Going-on pricing strategy
B. Discount pricing strategy
C. Dynamic pricing strategy
D. Premium pricing strategy
A
