intro

Question 1

ongoing monitoring of a company’s environmental opportunities and competitive positioning within different markets

Answer 1

strategic marketing

Question 2

core of all corporate activities - company’s success in profitability and positioning

Answer 2

customer

Question 3

what makes a client like a company, repeat purchase and recommend brand

Answer 3

customer experience

Question 4

key to achieve company’s goal is to be more efficient than competitors in terms of generating, offering and communicating greater value to public

Answer 4

marketing approach

Question 5

understanding and satisfying expressed needs of consumers

Answer 5

reactive marketing approach

Question 6

finding out and satisfying latent needs of consumers

Answer 6

proactive marketing approach

Question 7

development, design and application of marketing programs, processes and activities that recognize the scope and inter-dependency of their effects - consumers, workers, competitors, social trends etc.

Answer 7

holistic marketing approach

Question 8

establish strong, durable relationships with customers because, as a result of competition and globalization, customers have become the scarcest element in the system: Imaginarium Toy Club

Answer 8

relational marketing

Question 9

the coordination of all the marketing activities in order to maximize the combined effects, that is, any marketing activity is planned taking into consideration all the rest

Answer 9

integrated marketing

Question 10

recruitment, training and motivation of the suitable staff for assisting customers adequately. The marketing activities within the company are as important as the activities undertaken outside the company because there is no point in promising excellent service if the company is not ready to offer it.

Answer 10

internal marketing

Question 11

marketers to incorporate social and ethical considerations into their practices. Sometimes a balance between divergent criteria is required, for example, the company’s profits, satisfying customer’s wants and public interest

Answer 11

corporate social responsibility marketing (CSR)

Question 12

implicit in a company’s strategy - compulsory code of standards - benefits society as a whole in medium and long term

Answer 12

ethics

Question 13

types of marketing

Answer 13

strategic and operational

Question 14

analysis oriented, detects new opportunities, use of product market variables, dynamic environment, pro-active behavior, long range management, multi functional organization

Answer 14

strategic marketing

Question 15

action oriented, based on existing opportunities, use of other variables, stable environment, reactive behavior, day-to-day management, marketing function

Answer 15

operational marketing

Question 16

organization of the exchange of products and services by which goods move from production to consumption

Answer 16

distribution

Question 17

everyone in company does marketing, customer based structure instead of product, third party providing goods, discovering new strengths, creating brands through multiple tools, internet based, focusing on well defined target, global

Answer 17

new trends in marketing

Question 18

undertaking exchange relationships between company and market- finding customer needs and providing products that meet needs

Answer 18

value area of marketing

Question 19

analysis, planning, organizing, implementing, control

Answer 19

marketing management

Question 20

anything that satisfies a need and is valuable to those who consumes them - can be a good, service or idea, tangible or intangible

Answer 20

products

Question 21

are tangible goods that are only used once or few times - beer

Answer 21

non durable consumer goods

Question 22

are tangible goods that can be used repeatedly- clothes, fridge

Answer 22

durable goods

Question 23

are the products of impulse bought because the consumer does not put much effort into the buying decision

Answer 23

convenience goods

Question 24

bought frequently- groceries, day to day

Answer 24

staple goods

Question 25

products that consumers had not planned to buy - gummies, gum etc

Answer 25

impulse goods

Question 26

bought when urgent need arises - umbrellas, rain ponchos

Answer 26

emergency products

Question 27

products that consumers will expend time and effort in comparing with respect to suitability, quality, price and style before purchasing them

Answer 27

shopping goods

Question 28

perceived by consumers as being alike in quality but varying in price. This price variance justifies the buying decision

Answer 28

homogeneous shopping goods

Question 29

products whose characteristics and quality are more important than the price

Answer 29

heterogeneous shopping goods

Question 30

goods whose unique characteristics or brand identity is the reason why enough consumers are willing to make an effort for a special purchase - luxury brands - consumer does not need to compare the market to buy specialty goods

Answer 30

specialty goods

Question 31

products that consumers do not know or, despite knowing them, do not anticipate buying

Answer 31

unsought goods

Question 32

refers to the dimensions, shape or physical structure of a product

Answer 32

performance

Question 33

the characteristics complementing the basic function of a product

Answer 33

features

Question 34

is the level of performance of the main characteristics of a product. There are four quality levels: low, average, high or superior

Answer 34

quality

Question 35

the precision with which all units are manufactured identically and meet the specified standards

Answer 35

conformance

Question 36

measures a product’s life under natural or forced conditions

Answer 36

durability

Question 37

the likelihood that a product will not fail or break within a specific time period

Answer 37

reliability

Question 38

speed with which a product can be put into service when it breaks down

Answer 38

serviceability

Question 39

the appearance and the kind of response a user has to a product

Answer 39

aesthetics

Question 40

ordering ease, delivery, installation, customer information, technical advisory, maintenance/repair

Answer 40

improvements made in tangible goods that cannot easily be differentiated

Question 41

intangibility (users cannot try or experiment service in advance) perishability (services that aren’t in demand can be troublesome- discount car rentals on weekdays, complimentary things), inseparability (production and consumption of services take place simultaneously)

Answer 41

characteristics of services

Question 42

strategic concept (target customer and their needs), top management commitment to quality, high standards, self service technology (conveniency and speed), systems for monitoring service performance, satisfying customer complaints

Answer 42

key elements in service quality management