Marketing

Question 1

a process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services in order to create exchanges that satisfy individual and organizational goals

Answer 1

Marketing

Question 2

Marketing management is art and science of choosing

Answer 2

target market

Question 3

Marketing management is (G,K,GC)

Answer 3

getting, keeping and growing customers

Question 4

through creating, delivering, and communicating superior customer value

Answer 4

marketing management

Question 5

Laboratory-Customers Relationship
- Managers focus on operations

Answer 5

Before

Question 6

Laboratory-Customers Relationship
- They generate business in addition to maintaining the clientele.

Answer 6

Today

Question 7

The _____ Philosophy
- Strategic process of attracting and maintaining a customer

Answer 7

Marketing

Question 8

The _______ Philosophy
- Has to do with how the laboratory deals with the new reimbursement

Answer 8

Marketing

Question 9

The _____ Philosophy
- mechanisms and restructuring of laboratory delivery system

Answer 9

Marketing

Question 10

A communication tool designed to influence public attitudes toward the organization.

Answer 10

Public Relations

Question 11

Marketing Philosophy a _____ that becomes a part of all the work that a marketing department accomplishes for a company or organization.

Answer 11

foundational idea

Question 12

Marketing Philosophy is E____, O____, R__ taking and P__ knowledge.

Answer 12

Exploration
Openness
Risk
Practical

Question 13

Marketing Philosophy is ability to ___ and ____ market opportunities (I&P)

Answer 13

Identify and Pursue

Question 14

represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.

Answer 14

Market Environment

Question 15

Macro Environmental Factors include events outside the organization, Total ____ population
, P___ habits,
C____

Answer 15

Patient
Purchasing
Competition

Question 16

forces closely influencing the company and directly affect the organization’s relationships.

Answer 16

Micro Environment Factors

Question 17

Micro Environment Factors
A. C____ and it’s current e___

Answer 17

Company
Employees

Question 18

Micro Environment Factors
B. S____, M___ intermediaries, C____, C___

Answer 18

Suppliers
Marketing
Competitors
Customers

Question 19

anyone who is in the market looking at a product/service for attention, acquisition, use or consumption that satisfies a want or a need.

Answer 19

Customer

Question 20

Two basic groups of purchasing decision makers
- customers whose tests must be performed by the hospital laboratory

Answer 20

Captive Users/ Captive Markets

Question 21

Two basic groups of purchasing decision makers
- entity that decides where a service is performed

Answer 21

Discretionary Buyers

Question 22

Customer Expectations
- most sophisticated and specialized laboratory procedure

Answer 22

Best total product

Question 23

Customer Expectations
- complete package of services

Answer 23

Best total solution

Question 24

Customer Expectations
- volume and price

Answer 24

Best total cost

Question 25

First step of Core Concepts of Marketing -N,W,D

Answer 25

needs wants demands

Question 26

2nd step of Core Concepts of Marketing - P

Answer 26

products

Question 27

3rd step of Core Concepts of Marketing - U, V, S

Answer 27

utility value satisfaction

Question 28

4th step of Core Concepts of Marketing - E, TR

Answer 28

exchange transaction relationships

Question 29

5th step of Core Concepts of Marketing - M&M

Answer 29

marketing and marketers

Question 30

6th step of Core Concepts of Marketing - M

Answer 30

markets

Question 31

food (is a must)

Answer 31

need

Question 32

pizza, burger, French fries (translation of a need as per our experience)

Answer 32

wants

Question 33

burger (translation of a want as per our willingness and ability to buy)

Answer 33

demands

Question 34

have a burger in a five-star hotel

Answer 34

desire

Question 35

Marketing Triangle -CCC

Answer 35

Customers Company Competition

Question 36

As a priority, we must bring to our customers

Answer 36

what they need

Question 37

We must be in a position to understand their problems Or in a new situation to give them a chance to avoid the problems

Answer 37

Customers - Problem solution

Question 38

Customers look for value Value =

Answer 38

Value = benefits/cost

Question 39

Customer looks for value Benefit =

Answer 39

Benefit = Functional Benefit + Emotional Benefit

Question 40

Customer looks for value Cost =

Answer 40

Cost = Monetary Cost + Time Cost + Energy Cost + Psychic Cost

Question 41

The 4 Ps and PCs

Answer 41

Product - Customer Solution Price - Customer Promotion - Communication Place - Convenience

Question 42

anything that is offered to the market for attention, acquisition, use or consumption that satisfies a want or a need

Answer 42

product

Question 43

Types of products (3)

Answer 43

Consumer Service Industrial

Question 44

marketing is responsible for establishing the price of their service/product

Answer 44

price

Question 45

must consider the costs of all the inputs (materials, labor, etc.)

Answer 45

price

Question 46

how much profit do you want to make on every product/customer

Answer 46

mark-up price

Question 47

basing your prices on those of the competition

Answer 47

competition

Question 48

making your price low while new just to get some business

Answer 48

penetration

Question 49

putting the product/service with another item and bundling the prices

Answer 49

bundle

Question 50

making the price say something about the quality of your product

Answer 50

psychological

Question 51

refers to how & where you are going to sell the product to the consumer

Answer 51

place

Question 52

selling your product directly to the consumer

Answer 52

direct distribution

Question 53

sold through a 3rd party

Answer 53

indirect distribution

Question 54

What retailers are the best for reaching your Target Market? example: selling autoanalyzer: where do I sell?

Answer 54

Sold 3rd party

Question 55

Where are you going to locate in order to best reach your target market EXAMPLE: “Where should I put-up my laboratory?”

Answer 55

for a service

Question 56

Your target market frequents Says something about your business

Answer 56

you want to be in an area

Question 57

a successful product or service means nothing unless the benefit of that product/service can be communicated to the target market.

Answer 57

promotion

Question 58

Promotion are many ways to get the

Answer 58

word out

Question 59

a written document that acts as a guidebook of marketing activities for the marketing manager

Answer 59

the marketing plan

Question 60

The marketing plan a formal strategy for m,i, a c

Answer 60

maintaining identifying attracting customer

Question 61

Marketing Proposal Format (SOMPA)

Answer 61

Swat analysis (strength, weakness, analysis, tactics) Opportunities Market overview Purpose Approval for implementation

Question 62

the systematic and objective process of generating information for aid in making marketing decisions

Answer 62

marketing research

Question 63

Marketing research is a

Answer 63

Tool

Question 64

Marketing research system (IRMIMRAM)

Answer 64

Internal Record System Marketing Intelligence System Marketing Research System Analytical Marketing System

Question 65

It assists marketing managers in their decision making

Answer 65

Marketing Research Tool

Question 66

It is not a replacement for managerial judgment.

Answer 66

Marketing research tool