Midterms

Question 1

is the process of planning and executing the
conception, pricing, promotion and distribution of ideas,
goods and services to create exchanges that satisfy individual

and organizational objective (Kotler & Keller, 2005).

Answer 1

MARKETING

Question 2

is a management process which is responsible for
identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing).

Answer 2

MARKETING

Question 3

is essentially about providing changing benefits to the changing needs and demands of the customer (P. Tailor).

Answer 3

MARKETING

Question 4

STRATEGIC APPROACH OF MARKETING 3C’S OF MARKETING

Answer 4

Company
Competitor / Competition
Customer

Question 5

The one responsible to earn profit for the business.

Answer 5

COMPANY

Question 6

The company must always be aware that there are
competitors in the market.

Answer 6

competition

Question 7

The competition can either be __ or ___

Answer 7

direct or indirect

Question 8

the center of all the marketing
efforts of the company.

Answer 8

customer

Question 9

2 major factors in marketing

Answer 9

1. The recruitment of new customers
2. The retention and expansion of relationships with existing customers

Question 10

THE 7PS

Answer 10

PRODUCT
PRICING
PROMOTION
PLACEMENT OR DISTRIBUTION
PEOPLE
PHYSICAL EVIDENCE
PROCESS

Question 11

This refers to the
actual good or
service, and how
it relates to the
end user’s needs
and wants.

Answer 11

PRODUCT

Question 12

This refers to the
process of setting a
price for a product,
including discounts.

Answer 12

PRICING

Question 13

This refers to the
communication
between the seller
and the consumers,
for example
advertising, sales
promotion, publicity
and personal selling.

Answer 13

PROMOTION

Question 14

This refers to the
process of how
the product gets
to the customer;
for example, point
of sale placement
or retailing.

Answer 14

PLACEMENT OR DISTRIBUTION

Question 15

These are the
employees, customers or
those who are directly or
indirectly involved in
consuming or producing
the goods or services.

Answer 15

PEOPLE

Question 16

This can be the facility
design, equipment or
signage.

Answer 16

PHYSICAL EVIDENCE

Question 17

This is the flow of
activities or steps and
level of customer’s
involvement.

Answer 17

PROCESS

Question 18

For example, a customer
can walk in a fast-food
shop and order a
hamburger and get it
serve within two
minutes.

Answer 18

PROCESS

Question 19

Advertising is the paid form of
non-personal presentation and
promotion of ideas, goods, or
services by an identified
sponsor.

Answer 19

advertising

Question 20

PURPOSE OF ADVERTISING

Answer 20

1. To promote idea about goods and services
2. To create interest in goods and services
3. To create awareness about goods and services
4. To create sale

Question 21

ROLES OF ADVERTISING

Answer 21

1. Marketing Role
2. Communication Role
3. Economic Role
4. Societal Role

Question 22

Marketing is the process of business ises to satisfy consumer needs and wants through goods and services

Answer 22

Marketing Role

Question 23

Advertising is a form of mass communication

Answer 23

Communication Role

Question 24

Improves standard of living and the economy by generating material consumption

Answer 24

Economic Role

Question 25

Informs us about new and improved products, teaches us how to use these innovations.

Answer 25

Societal Role

Question 26

FUNCTIONS OF ADVERTISING

Answer 26

1. SOCIAL FUNCTION (NON-COMMERCIAL ADVERTISING
2. PYSCHOLOGICAL FUNCTION
3. ECONOMIC FUNCTION

Question 27

The main goal is not to
sell a product or service but to raise awareness
about an issue, collect funds for a cause, or
promote an idea.

Answer 27

Social Function

Question 28

Psychological Motives of human beings. The psychology of advertising
focuses on building empathy
towards a product or service to
help you become more inclined to
buy or use it.

Answer 28

Pyschological Function

Question 29

Companies spend money on
advertising because it increases sales
of existing products, helps grow
adoption of new products, builds
brand loyalty, and takes sales away
from competitors.

Answer 29

Economic Function

Question 30

TYPES OF ADVERTISING

Answer 30

1. Informative Advertising
2. Persuasive Advertising
3. Comparative Advertising
4. Reminder Advertising
5. Reinforcement Advertising

Question 31

Ads that use information instead
of emotion to appeal to potential
customers. These
advertisements usually include
facts about a product that
highlight its features.

Answer 31

INFORMATIVE ADVERTISING

Question 32

-Pioneering stage of product
category.

Answer 32

INFORMATIVE ADVERTISING

Question 33

-To build primary demand.

Answer 33

INFORMATIVE ADVERTISING

Question 34

Form of product promotion
that seeks to persuade a
potential customer to
purchase a specific
product

Answer 34

PERSUASIVE ADVERTISING

Question 35

Competitive stage of
product

Answer 35

PERSUASIVE ADVERTISING

Question 36

Build selective demand for
a particular brand.

Answer 36

PERSUASIVE ADVERTISING

Question 37

Is a marketing strategy in
which a company’s
product or service is
presented as superior
when compared to a
competitor’s

Answer 37

COMPARATIVE ADVERTISING

Question 38

Comparison of attributes
of two or more brand

Answer 38

COMPARATIVE ADVERTISING

Question 39

one of
the most traditional and powerful
methods of promoting an
existing brand, maintaining the
long product life cycle, and
retaining your loyal customers for
the years to come.

Answer 39

REMINDER ADVERTISING

Question 40

Remind people to purchase

Answer 40

REMINDER ADVERTISING

Question 41

Assure current purchase
that they have made the
right choice.

Answer 41

REINFORCEMENT ADVERTISING