lesson 1

Question 1

is an organizational function
and a set of processes for creating,
communicating, and delivering value
to customers and for managing
customer relationships in ways that
benefit the organization and its
stakeholders.

Answer 1

Marketing

Question 2

is the
art and science
of choosing target markets
and getting, keeping, and growing
customers through
creating, delivering, and communicating
superior customer value.

Answer 2

Marketing Management

Question 3

What is Marketed? (1)

Answer 3

• Goods
• Services
• Events
• Experiences
• Persons

Question 4

What is Marketed? (2)

Answer 4

• Places
• Properties
• Organizations
• Information
• Ideas

Question 5

Demands States

Answer 5

• Negative
• Nonexistent
• Latent
• Declining
• Irregular
• Unwholesome
• Full
• Overfull

Question 6

Structure of Flows in Modern Exchange Economy

Answer 6

Government Markets:👇🏻👇🏻

1. Manufacturer Market
2. Resource Market
3. Consumer Market
4. Intermediary Market

Question 7

Simple Marketing System

Answer 7

Industry ➡️ Market

Question 8

Key Customer Markets

Answer 8

• Consumer markets
• Business markets
• Global markets
• Nonprofit/Government markets

Question 9

Core Concepts

Answer 9

• Needs, wants, and
demands
• Target markets,
positioning,
segmentation
• Offerings and
brands
• Value and
satisfaction
• Marketing
channels
• Supply chain
• Competition
• Marketing
environment
• Marketing planning

Question 10

Types of Needs

Answer 10

• Stated
• Real
• Unstated
• Delight
• Secret

Question 11

Involves dividing the market into groups based on characteristics like demographics, geography, psychographics, or behaviors.

Answer 11

Segmentation

Question 12

Involves selecting which customer group segment to target.

Answer 12

Target Markets

Question 13

deciding how the business wants customers to perceive its product compared to competitors.

Answer 13

Positioning

Question 14

A value proposition is made with a set of benefits that is offered to the customers to
satisfy their needs.

Answer 14

Offerings and Brands

Question 15

A value proposition is made with a set of benefits that is offered to the customers to
satisfy their needs.

Answer 15

Offerings and Brands

Question 16

The perceived benefits a customer receives from a product or service, relative to the cost. Customer value is a proactive process that takes place before the customer uses the product. It considers factors like quality, usefulness, and emotional connection.

Answer 16

Value

Question 17

A measure of how well a product or service meets or exceeds customer expectations. Customer satisfaction is a reactive process that measures the gap between what customers expect and what they receive. It’s an emotional experience that’s difficult to measure.

Answer 17

Satisfaction

Question 18

A measure of how well a product or service meets or exceeds customer expectations. Customer satisfaction is a reactive process that measures the gap between what customers expect and what they receive. It’s an emotional experience that’s difficult to measure.

Answer 18

Satisfaction

Question 19

Marketing Channels

Answer 19

• Communication
• Distribution
• Service

Question 20

Marketing Environment

Answer 20

• Demographic
• Economic
• Socio-cultural
• Political-legal
• Technological
• Natural

Question 21

Major Societal Forces

Answer 21

• Network information
technology
• Globalization
• Deregulation
• Privatization
• Heightened competition
• Industry convergence
• Retail transformation
• Disintermediation
• Consumer buying power
• Consumer participation
• Consumer Resistance

Question 22

Company Orientations

Answer 22

• Production
• Product
• Selling
• Marketing

Question 23

Holistic Marketing

Answer 23

• Internal Marketing
• Integrated Marketing
• Performance Marketing
• Relationship Marketing

Question 24

Holistic Marketing

Answer 24

• Internal Marketing
• Integrated Marketing
• Performance Marketing
• Relationship Marketing

Question 25

Relationship Marketing

Answer 25

• Customers
• Employees
• Marketing Partners
• Financial Community

Question 26

a strategy that unifies a brand’s messaging across all marketing channels to create a consistent customer experience.

Answer 26

Integrated Marketing

Question 27

is the task of hiring, training, and motivating able employees who want to serve customers well.

Answer 27

Internal Marketing

Question 28

Performance Marketing

Answer 28

• Financial Accountability
• Social Responsibility Marketing

Question 29

Types of Corporate Social Initiatives

Answer 29

• Corporate social marketing
• Cause marketing
• Cause-related marketing
• Corporate philanthropy
• Corporate community involvement
• Socially responsible business
practices

Question 30

Marketing Mix

Answer 30

Product:
Product variety
Quality Design
Features
Brand name
Packaging
Sizes
Services
Warranties
Returns

Price:
List price
Discounts
Allowances
Payment period
Credit terms

Promotion:
Sales promotion
Advertising Sales force
Public relations
Direct marketing

Place:
Channels
Coverage
Assortments
Locations
Inventory Transport

Question 31

New Four P’s

Answer 31

• People
• Processes
• Programs
• Performance

Question 32

Marketing Management Task

Answer 32

• Develop market strategies and plans
• Capture marketing insights
• Connect with customers
• Build strong brands
• Shape market offerings
• Deliver value
• Communicate value
• Create long-term growth