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Marketing > 1st Quarterly Exam > Flashcards

1st Quarterly Exam Flashcards

1
Q

The process of building and maintaining profitable customer relationship (satisfaction).

A

Relationship Marketing

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2
Q

Levels of Relationship Marketing

A
  • Basic Marketing
  • Reactive Marketing
  • Accountable Marketing
  • Proactive Marketing
  • Partnership Marketing
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3
Q

Building Customer Loyalty Through Customer Service

A
  • Relationship Marketing
  • Levels of Relationship Marketing
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4
Q

1st level of relationship marketing (direct sales)

A

Basic Marketing

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5
Q

Sales people give assistance to customer through phone call at any time.

A

Reactive Marketing

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6
Q

Sales people will do an after service call to follow up the buying experience of the customer to his/her item (open for suggestion)

A

Accountable Marketing

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7
Q

Company has a group of regular customers who provide constructive feedback.

A

Proactive Marketing

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8
Q

Company has a group of loyal customers.

A

Partnership Marketing

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9
Q

Building Customer Value

A
  • Customer Value
  • Levels of Customer Value
  • Types of Customers
  • Relationship Development Strategies
  • Customer Service in the Philippines
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10
Q

Satisfaction of the customers from expectation vs reality experience.

A

Customer Value

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11
Q

Levels of Customer Value

A
  • Basic & Expected Level
  • Desired Customer Value
  • Unanticipated Customer Value
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12
Q

Unexpected experience that goes beyond expectation

A

Unanticipated Customer Value

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13
Q

basic requirement of conducting a business.

A

Basic & Expected Level

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14
Q

What the customers wants from the purchase experience.

A

Desired Customer Value

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15
Q

Types of Customers

A
  • Strangers
  • Butterflies
  • True Friends
  • Freeloaders
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16
Q

loyal but not profitable because of the limited fit between their needs.

A

Freeloaders

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17
Q

needs that match your offerings (profit at all times)

A

True Friends

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18
Q

not loyal, because they are on hunt for the best (profit sometimes)

A

Butterflies

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19
Q

needs do not fit to your offerings (no profit at all)

A

Strangers

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20
Q

Relationship Development Strategies

A
  • Communicate with customers frequently and effectively
  • Offer Customer Rewards
  • Conduct Special Events and Provide Sponsorships
  • Enhance Customer Service
  • Utilize languages to reach a wider customer base
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21
Q

Through using different languages of promotional materials to cater different regions.

A

Utilize languages to reach a wider customer base

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22
Q

Through catering concerns, complaints, telemarketing of your latest offerings

A

Enhance Customer Service

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23
Q

Through sponsorships, parties, contests and the likes

A

Conduct Special Events and Provide Sponsorships

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24
Q

Through special discounts, perks, and freebies

A

Offer Customer Rewards

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25
Q

Through email and SNS to sustain brand recall

A

Communicate with customers frequently and effectively

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26
Q

Customer Service in the Philippines

A
  • Customer Hotline
  • Email and SMS
  • SNS
  • Live Chat Support
  • Company Mobile Application
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27
Q

Service

A

Service Marketing

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28
Q

is an act that is provided by a party that creates value and provides benefits to the party

A

Service

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29
Q

Characteristics of Service

A
  • Intangible
  • Inseparable
  • Perishable
  • Homogeneous
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30
Q

cannot be stored or returned

A

Perishable

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31
Q

may differ from time to time

A

Homogeneous

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32
Q

simultaneous production and consumption

A

Inseparable

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33
Q

does not have physical manifestation

A

Intangible

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34
Q

Components of Service Marketing

A
  • Product and its elements
  • Time and Place
  • Process
  • Quality service or productivity
  • People or Service Provider
  • Promotion
  • Physical Evidence
  • Price
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35
Q

the amount to pay to enjoy the service, most of the time, the price of the service depends on its perceived quality.

A

Price

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36
Q

visible cues that show service quality

A

Physical Evidence

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37
Q

informing the public about the service

A

Promotion

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38
Q

the ultimate proof of service quality.

A

People or Service Provider

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39
Q

how the service meets the customer’s expectation

A

Quality service or productivity

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40
Q

method of service delivery

A

Process

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41
Q

rendered on time and in appropriate venue

A

Time and Place

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42
Q

supplement the main product

A

Product and its elements

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43
Q

rendered on time and in appropriate venue

A

Time and Place

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44
Q

method of service delivery

A

Process

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45
Q

how the service meets the customer’s expectation

A

Quality service or productivity

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46
Q

the ultimate proof of service quality.

A

People or Service Provider

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47
Q

informing the public about the service

A

Promotion

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48
Q

visible cues that show service quality

A

Physical Evidence

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49
Q

the amount to pay to enjoy the service, most of the time, the price of the service depends on its perceived quality.

A

Price

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50
Q

is the general plan of action aligned with the company’s VMGOs (Vision, Mission, Goals and Objectives).

A

Strategic Marketing

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51
Q

The starting point before marketing strategies

A

Strategic Marketing

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52
Q

how strategies must be executed.

A

Tactical Marketing

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53
Q

activities that will inform customers of the features of a good or service

A

Tactical Marketing

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54
Q

Steps in describing Marketing tactics:

A
  • Prepare an Action Plan
  • Name the necessary resources and monitor the allocated budget
  • Identify how the success of the tactics will be measured
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55
Q

evaluating the effectiveness of the tactics.

A

Identify how the success of the tactics will be measured

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56
Q

how much do you need for the execution?

A

Name the necessary resources and monitor the allocated budget

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57
Q

a detailed list of steps on how to deliver each tactic

A

Prepare an Action Plan

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58
Q

forces that affect the way a firm operates with its target market both internal and external.

A

Marketing Environment

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59
Q

consists of all internal factors which have direct contact and influence on the company.

A

Microenvironment

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60
Q

Microenvironment

A
  • Organization
  • Suppliers
  • Customers
  • Marketing Intermediaries
  • Competitors
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61
Q

they are the owners, investors and employees who are all considered members of the organization. This includes formulation of VMGOs

A

Organization

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62
Q

provide the resources the organization needs if a form of raw materials

A

Suppliers

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63
Q

people willing to buy the product

A

Customers

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64
Q

assist the distribution and selling of goods

A

Marketing Intermediaries

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65
Q

Marketing Intermediaries

A
  • Wholesalers
  • Distributorships
  • Retailers
  • Agents and brokers
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66
Q

buy goods from manufacturers and resell

A

Wholesalers

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67
Q

selected by manufacturers to buy goods for resale

A

Distributorships

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68
Q

buy goods from wholesalers and/or distributorships

A

Retailers

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69
Q

sell products for a certain commission

A

Agents and brokers

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70
Q

rival firms that offer similar goods or services.

A

Competitors

71
Q

same product, same intention, same target market location

A

Direct Competitors

72
Q

products differ slightly, same intention, same target market

A

Indirect Competitors

73
Q

consists of all external factors which affect not only the firm but the entire industry or region or country.

A

Macroenvironment

74
Q

Macroenvironment

A
  • Demographics
  • Economics
  • Sociocultural Factors
  • Technological Factors
  • Political Forces
  • Ecological Factors
75
Q

activities to protect natural environment

A

Ecological Factors

76
Q

Proper Waste Disposal, Re-use Recycle Reduce

A

Ecological Factors

77
Q

group of people which may influence the stability of country and affect the production, distribution, promotion and selling of goods and services.

A

Political Forces

78
Q

Copyright and patent, Taxes and Tariffs

A

Political Forces

79
Q

development in technology.

A

Technological Factors

80
Q

ATMs, Internet, Gadgets

A

Technological Factors

81
Q

refers to the beliefs, practices, norms, customs, and traditions that may affect the business operations.

A

Sociocultural Factors

82
Q

influence the purchasing power particularly during inflation.

A

Economics

83
Q

characteristics of a population

A

Demographics

84
Q

Age, gender, religion, educational attainment, civil status, geographic location, lifestyle, race, and others.

A

Demographics

85
Q

the process of collecting and analyzing data to address a specific marketing problem.

A

Marketing Research

86
Q

It is important as it could help identify the demographics of target market, determine the probability of success and the alternative courses of actions, and avoid potential loss and iron out issues that may occur.

A

Marketing Research

87
Q

Marketing Research Steps

A
  • State the objectives
  • Determine the research methodology
  • Gather data
  • Interpret the results
  • Present the results
88
Q

this aids in designing your research process

A

State the objectives

89
Q

Determine the research methodology

A
  • Manner of Gathering
  • Type of information
  • Type of Study
90
Q

Manner of Gathering

A
  • Primary Research
  • Secondary Research
91
Q

used previously published materials

A

Secondary Research

92
Q

original information

A

Primary Research

93
Q

Type of information

A
  • Quantitative Research
  • Qualitative Research
94
Q

studies views and attitudes

A

Qualitative Research

95
Q

involves numerical data

A

Quantitative Research

96
Q

Type of Study

A
  • Exploratory Research
  • Descriptive Research
  • Causal Research
97
Q

describes the characteristics of the research.

A

Descriptive Research

98
Q

studying the cause and effect relationship

A

Causal Research

99
Q

better understanding of the research problem and identify variables

A

Exploratory Research

100
Q

collecting of data based on the study

A

Gather data

101
Q

interpreting the data gathered

A

Interpret the results

102
Q

presentation of the interpreted data through graphs, charts, tables and figures.

A

Present the results

103
Q

is a system of all individuals that purchase goods and services for personal consumption

A

Consumer market

104
Q

Consumer to company buying transaction

A

Consumer market

105
Q

Consumer Purchase Decision Process

A
  • Recognizing a need
  • Searching for information about the product or service
  • Evaluating the different products available
  • Making a final purchase decision
  • Making and after purchase evaluation
106
Q

Evaluation of the purchase made.

A

Making and after purchase evaluation

107
Q

Selection of the best product

A

Making a final purchase decision

108
Q

Weighing all the possible options.

A

Evaluating the different products available

109
Q

Weighing all the possible options.

A

Evaluating the different products available

110
Q

Reading and searching about the pros and cons of the product.

A

Searching for information about the product or service

111
Q

Think of a brand that they need or want

A

Recognizing a need

112
Q

Factors Influencing Consumer Behaviour

A
  • Cultural Factors
  • Social Factors
  • Personal Factors
  • Psychological Factors
113
Q

human mind and behaviour

A

Psychological Factors

114
Q

guides one’s behaviour

A

Motivation

115
Q

how you view things

A

Perception

116
Q

assumption made by an individual.

A

Beliefs and attitudes

117
Q

demographic characteristics of a person

A

Personal Factors

118
Q

social functions and interactions with his group

A

Social Factors

119
Q

Social Factors

A
  • Reference group
  • Social Role
  • Social Status
120
Q

social standing

A

Social Status

121
Q

responsibilities and profession

A

Social Role

122
Q

family, friends and relatives

A

Reference group

123
Q

beliefs, traditions, mores, norms and values learned from the family

A

Cultural Factors

124
Q

Types of consumer buying behaviour

A
  • The buying behaviour of an individual is mostly determined by the level of his involvement.
  • Types of Buying behaviour
125
Q

Involvement relates to the willingness of the customer to acquire more information about the product.

A

The buying behaviour of an individual is mostly determined by the level of his involvement.

126
Q

relates to the willingness of the customer to acquire more information about the product.

A

Involvement

127
Q

Types of Buying behaviour

A
  • Variety Seeking behaviour
  • Habitual buying behaviour
  • Dissonance
  • Complex buying behaviour
128
Q

greatest amount of involvement; when buying expensive products.

A

Complex buying behaviour

129
Q

reducing behaviour – larger amount of involvement; expectation vs reality checking

A

Dissonance

130
Q

minimal amount of involvement; as long as it serves its purpose

A

Habitual buying behaviour

131
Q

little to no involvement; just to try something new

A

Variety Seeking behaviour

132
Q

composed of firms and organizations that purchase semi processed goods.

A

Business Markets

133
Q

Company to supplier buying transaction

A

Business Markets

134
Q

Characteristics of Business Markets

A
  • The demand in business markets
  • The complexity of buying decisions
  • The involvement of professional purchasing agents
135
Q

skilled individual in terms of dealing with suppliers

A

Professional purchasing agents

136
Q

Business Buying Decision Process

A
  • Recognition of need
  • Determining product specification
  • Listing possible suppliers
  • Selection of supplier
  • Periodic review
137
Q

Evaluation of the performance of the purchased materials

A

Periodic review

138
Q

Features and functions required by the product

A

Determining product specification

139
Q

Identifying the need to be addressed

A

Recognition of need

140
Q

Types of Business Buying Situation

A
  • Straight rebuy
  • Modified rebuy
  • New buy
141
Q

new supplier

A

New buy

142
Q

negotiation between supplier

A

Modified rebuy

143
Q

reorder from supplier

A

Straight rebuy

144
Q

Participants in the Business Buying Process

A
  • Users
  • Influencers
  • Buyers
  • Deciders
  • Gatekeepers
145
Q

Control the flow of information; can be the above mentioned.

A

Gatekeepers

146
Q

Have the authority to make or approve

A

Deciders

147
Q

The professional purchasing agents

A

Buyers

148
Q

The influence through their skills

A

Influencers

149
Q

Directly utilized the products from suppliers

A

Users

150
Q

is a group of people to whom the company intends to sell its product.

A

target market

151
Q

Stages in target marketing

A
  • Market Segmentation
  • Market Targeting
  • Market Positioning
152
Q

Positioning their brands to the minds of their selected target market

A

Market Positioning

153
Q

Selection of target market

A

Market Targeting

154
Q

Process of dividing consumer; breaking down from a large market to smaller group; hetero to homogeneous

A

Market Segmentation

155
Q

Market Segmentation Variables

A
  • Demographic
    -Geographic
  • Psychographic
  • Behaviouristic
156
Q

Demographic

A
  • Age
  • Life Cycle Stage
  • Gender
  • Income
  • Religion, race and nationality
157
Q

Geographic

A
  • Climate
  • Population Size
158
Q

Psychographic

A
  • Lifestyle pattern
  • Hobbies and interest
  • Opinions and beliefs
  • Personality
159
Q

Behaviouristic

A
  • Loyalty
  • Special Occasion
  • Benefits
160
Q

Loyalty

A
  • Soft core
  • Hard core
  • Switchers
161
Q

one brand

A

Hard core

162
Q

availability

A

Switchers

163
Q

patronize other brand

A

Soft core

164
Q

Market Targeting

A
  • Undifferentiated/Mass marketing
  • Differentiated/Segment marketing
  • Concentrated/Niche marketing
165
Q

One segment

A

Concentrated/Niche marketing

166
Q

One brand with variants

A

Differentiated/Segment marketing

167
Q

Catering to a particular segment

A

Differentiated/Segment marketing

168
Q

Selling a wide variety of products

A

Undifferentiated/Mass marketing

169
Q

Market Positioning

A
  • Feature-based positioning
  • Use-based positioning
  • User-based positioning
  • Head-on Competitive positioning
  • Lifestyle positioning
170
Q

Culture and values focus

A

Lifestyle positioning

171
Q

Brand comparison focus

A

Head-on Competitive positioning

172
Q

Answers the question who.

A

User-based positioning

173
Q

How to and what for focus

A

Use-based positioning

174
Q

Product feature focus

A

Feature-based

Marketing (3 decks)

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