BUSINESS MARKETING 2

Question 1

the science and art of exploring, creating, and delivering
value to satisfy the needs of a target market at a profit.

Answer 1

marketing by dr philip kotler

Question 2

the activity, set of institutions, and processes for
creating, communicating, delivering and exchanging
offerings that have value for customers, clients,
partners, and society at large

Answer 2

marketing by american marketing association 2013

Question 3

it is the art of creating genuine customer value

Answer 3

philip kotler

Question 4

mass production and distribution; lower production cost = lower price

Answer 4

production concept

Question 5

focuses on product itself and innovation

Answer 5

product concept

Question 6

large-scale selling and promotion effort; sell what is manufactured rather than manufacture what the market wants; hard selling

Answer 6

selling concept

Question 7

customer’s preferences are prioritied; Provide a solution to the customer’s actual or perceived problem.

Answer 7

marketing concept

Question 8

maintains or improves the consumer’s, society’s and environment well being

Answer 8

societal marketing concept

Question 9

for the purpose of strengthening meaningful long-term relationships with customers; customer databases are created, maintained and updated; Customer profiles, purchase habits and preferences are tracked and monitored

Answer 9

relationship marketing concept

Question 10

Large screen monitor
display ads
Sms blasts

Answer 10

digital marketing

Question 11

Automated Emailing of
product information

Online stores

Online reservation

Online payments

Answer 11

online marketing

Question 12

Blogging

Photos

Videos

Advertisements

Answer 12

social media marketing

Question 13

LED Video screen

Digital billboards

Video walls

Answer 13

outdoor promotion

Question 14

Signs and Ads mounted on
taxicabs

Product logos painted on
the sides of buses or vans

Product stickers

Small tv screens

Answer 14

mobile promotion

Question 15

Promoting products
through telephone
calls to identified
potential customers

Answer 15

telemarketing

Question 16

Car Companies host car
shows to introduce new car
models

Clothing companies host
fashion show to showcase
clothing lines

Answer 16

event marketing

Question 17

Repacked in smaller sizes
and re priced at more
affordable values

Answer 17

sachet marketing

Question 18

great marketing makes the customer feel smart

Answer 18

joe chernov

Question 19

is a person or organization that
transacts with businessperson or

business organization
to buy goods or services for
monetary or other valuable

considerations.

Answer 19

customer

Question 20

is the process of
ensuring customer
satisfaction with a
product or service

Answer 20

customer service

Question 21

The perceived benefits and
results a customer expects
when buying and using a
product or availing of a service

Answer 21

customer expectations

Question 22

What can companies do to meet Customer
Expectations?

Answer 22

underpromise and overdeliver
blue ocean strategy

Question 23

get closer to your customer, tell them what they need

Answer 23

steve jobs

Question 24

this includes customer’s name,
birthdate, contact numbers an
email address. This is used in
customer segmentation and
profiling.

Answer 24

customer database information

Question 25

used to accurately and identify the type of merchandise frequently purchased, amount spent, the preferred days for shopping etc.

Answer 25

customer shopping history

Question 26

is a facet of customer relationship management (CRM) that focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales.

Answer 26

relationship marketing

Question 27

relationship marketing (suki marketing)

Answer 27

trial (new buyers) + (customer satisfaction) repeat purchase (old buyers) = (customer loyalty) total buyers

Question 28

customer’s perception of the benefits that he or she is getting from a product, in relation to the price paid to obtain those benefits

Answer 28

customer value

Question 29

customer’s evaluation of the performance of the product in relation to his or her expectation

Answer 29

customer satisfaction

Question 30

The company’s effort to maintain loyalty of customers

Answer 30

customer retention

Question 31

4 brand benefits

Answer 31

functional benefit emotional benefit social economic

Question 32

the forecasted sales or profits that a company can derive from the entire span of the future relationship with a particular customer. This is based upon the potential value and profitability of their relationship with the company.

Answer 32

customer lifetime value CLV

Question 33

relationship development strategies

Answer 33

financial bond customiation social structural

Question 34

If the cost is worth the value derived (real and perceived), the --- bond is sufficient.

Answer 34

financial bond

Question 35

Personal ties which include perceived feelings of “familiarity, personal recognition, friendship, rapport and social support”

Answer 35

social bond

Question 36

The service provider customizes the service that is delivered to customers: in other words, the provider tailor-makes the service to the needs of the customer.

Answer 36

customiation bond

Question 37

occur where the services offered by the service provider are designed into the systems or processes of the client company.

Answer 37

structural bond

Question 38

custome pays the wages

Answer 38

henry ford

Question 39

brand color

Answer 39

60% main colors to use 30% secondary colors to use (text) 10% accent for highlights

Question 40

brand names

Answer 40

abstract, descriptive, suggestive

Question 41

function that links customers, consumers and public to marketer through info

Answer 41

marketing research

Question 42

high bad debts uncollectible accounts

Answer 42

quali - exploratory research quanti - descriptive

Question 43

high interest payable

Answer 43

quali - ethnographic or observational research quanti - correlational and explanatory research

Question 44

lack of innovations in product offers

Answer 44

quali - case study quanti - causal research

Question 45

steps in marketing research by kotler and armstrong 2013

Answer 45

define the problem and objective develop research plan implement research plant - collect and analye data interpret and report findings

Question 46

focuses on the target market and determines and estimates its demand relative to a particular company offering

Answer 46

market study

Question 47

a tool used to gather infor about existing or potential customers in a certain market or population

Answer 47

market survey