Lesson 7. Marketing Considerations

Question 1

The center of all marketing considerations.

Answer 1

Customers

Question 2

These refers to the tangible good or service offered to satisfy needs and wants.

Answer 2

Product/ Service

Question 3

The four general
types of products/ services are?

Answer 3

breakthrough
differentiated
copycat
niche

Question 4

Completely new ones, have not been offered before and
cater to a unique set of customer’s needs that have not been catered before.

Answer 4

Breakthrough products / services

Question 5

Perform closely like the existing product in the market but
feature additional, special or new aspects and attributes, thus offering a new claim in the minds of the
customers.

Answer 5

Differentiated products/ services

Question 6

Like the original products / services and are in the markets through aggressive
marketing.

Answer 6

Copy cats

Question 7

Small enough to be left alone but capture a particular customer segment
because they are lower in reach, visibility and price and occupy the lower top of the mind.

Answer 7

Niche products

Question 8

Refers to the monetary and non- monetary cost. The price must be set at a
premium to project quality, maintain the image and differentiate the product from inferior competitors.

Answer 8

Price

Question 9

Factors considered in pricing?

Answer 9

profit and
revenue maximization
market share maximization
market leadership
market penetration
liquidation
investment recovery
market skimming
subsidy pricing
marginal pricing
etc.

Question 10

This aim to develop loyal term customers by informing, persuading and
constantly reminding them about the product or service. The message must be consistent; projects the past and present performance;
customer loyalty through time; and must be able to address the senses; thoughts and emotions of the prospects.

Answer 10

Promotion

Question 11

Refers to the activities like public relation campaigns, promotional tours,
product offerings, point-of-sale displays, broadcasting, telemarketing and e-mail campaigns.

Answer 11

Direct promotion

Question 12

Communicates through location, office ambiance and premises, packaging
and price.

Answer 12

Indirect promotion

Question 13

Various media can be used to connect very well with the target market like?

Answer 13

television
radio
billboards
broadsheets
magazines
tabloids
etc.

Question 14

The market battle plan in terms of enterprise, competitive and customer
perspective.

Answer 14

Positioning

Question 15

This requires the formulation of a visitation of what it
wishes to become in the market.

Answer 15

enterprise’ perspective positioning

Question 16

It makes the enterprise define
itself and formulate strategies in contrast to its competitors.

Answer 16

competitive perspective positioning

Question 17

It refers
to the development of customer and customer mindsets and emotional responses based on their
interest and expectation.

Answer 17

customer perspective positioning

Question 18

A marketing medium that helps create a favorable perception in material and non-material manner. Package may also mean a bundle of services or products, like a salon package, grocery package,
etc.

Answer 18

Packaging

Question 19

Purposes of packaging?

Answer 19

identifies the product
provides easy brand recognition
differentiate product from its competitors
protects fragile and
sensitive products
prolong shelf lives and prevents products from spoilage and breakages

Question 20

Refers to the regular contact points between the enterprise and the market or
the employees and customers; conduct market research and marketing strategies; contact, reach and convince customers to but the products.

Answer 20

Marketing People

Question 21

Four basic roles of marketing people?

Answer 21

create customer
awareness
arouse customer interest
educate customers as they evaluate their buying choices
close
the sale and deliver the products

Question 22

Refers to the future map of the enterprise. It is determining and planning the growth
of the enterprise within the industry it belongs. The ___ of the enterprise muct be consistent
with its objectives, mission and vision.

Answer 22

Perspective