Marketing

Question 1

who defines marketing as “acitivity set of institutions, and process for creating, commumicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.

Answer 1

AMA (American Marketing Association)

Question 2

defines marketing as activity set of institutions and processes for creating, communicating, delivering, and exhanging offerings that have value for customers, clients, partners and society at large.

Answer 2

Marketing

Question 3

Father of modern marketing

Answer 3

dr. Philip Kotler

Question 4

defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of target market at a profit”

Answer 4

Dr. Philip Kotler

Question 5

When was Dr. philip kotler born?

Answer 5

1931

Question 6

what are the 3 evolutions of marketing?

Answer 6

1. 1950’s - marketing era
2. 1990’s - relationship marketing era
3. First Decade of the 21st century- Digital marketing era

Question 7

understanding the need of your target customers and customizing your marketing activities to address those needs.

Answer 7

1950’s -Marketing era

Question 8

delivers value to customers, strengthen relationship to increase customer’s retention.

Answer 8

1990’s - Relationship Marketing era

Question 9

innovating data driven approach

Answer 9

First decade of 21st century - Digital Marketing Era

Question 10

it is al aboit delivering the customers’ experiences

Answer 10

Marketing in the 21st century

Question 11

objective is to create and deliver value of customers, build brand awareness, generate customers loyalty. satisfy customers’ needs profitably.

Answer 11

Marketing

Question 12

main goal is to increase awareness, generate interest, and drive customer action. Focuses on creating a buzz and getting target audience to notice and engage.

Answer 12

Promotion

Question 13

the one who sell product, seek response. Skilled at stimulating demand for their products, responsible for demand management.

Answer 13

Marketer

Question 14

if two parties are seeking to sell something to each other we call them as

Answer 14

MARKETERS

Question 15

what are the 3 main component of Marketing Concept

Answer 15

1.costumers needs/wants/demands
2. profitability
3. integrated marketing

Question 16

a component who focuses to satisfy customers’ needs wants and demand.

Answer 16

Customers needs/wants/demand

Question 17

a component in which companies aim to generate profits by satisfying customers’ demands better than competition.

Answer 17

Profitability

Question 18

a component in which marketing is a concerted effort from all personnel within a company.

Answer 18

Integrated marketing

Question 19

physical store, physical place where buyers and sellers gathered to buy and sell goods.

Answer 19

market

Question 20

is the virtual place of exchange between buyer and seller in cyberspace.

Answer 20

Internet Market (I-Market)

Question 21

what are the 4 key costumer markets?

Answer 21

1. consumer market
2. business market
3. global Market
4. non profit/ non government market

Question 22

consumers buy products for consumption or sharing

Answer 22

consumer market

Question 23

facilitate sales from one business to another, reuse or resell another company’s product or services

Answer 23

Business market

Question 24

goods are traded to people of other countries.

Answer 24

Global mArket

Question 25

main buyers are state, local governmental organizations and NGOs.

Question 26

8 functions of msrketing

Answer 26

1.buying 2. selling 3. transporting 4. storing 5. standardizing and grading 6. financing 7. risk taking 8. securing marketing information

Question 27

8 functions of marketing

Answer 27

1. Buying 2. selling 3. storing 4. transporting 5. standardizing and grading 6. financing 7. risk taking 8. securing marketing information

Question 28

anticipating future events and conditions and determining the best way to achieve organizational objectives

Answer 28

planning

Question 29

implementing planning activities devoted to achieving marketing objectives.

Answer 29

marketing planning

Question 30

determining an organization's primary obejcts, adopting courses of action that will achieve these objectives, provides long term direction for its decision makers.

Answer 30

Strategic planning

Question 31

guides the implementation of activities specified in the strategic plan, addresses shorter term actions.

Answer 31

tactical planning

Question 32

is a form of marketing in which a destination is promoted to potential visitors in order to increase the number of people that travel to that location

Answer 32

Destination marketing

Question 33

selecting and satisfying target consumers through the marketing mix elements

Answer 33

marketing strategy

Question 34

helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

Answer 34

SWOT analysis

Question 35

what are the 2 leverages

Answer 35

strengths and opportunities

Question 36

what are the 2 problems in swot

Answer 36

weaknesses and threats

Question 37

2 elements of a marketing strategy

Answer 37

1. The target market 2. marketing mix variables

Question 38

group of people toward whom the firm direct its marketing efforts and merchandise

Answer 38

Target market

Question 39

role is to bring customers or tourist to the destination, product or service that the tourism company wishes to sell.

Answer 39

Marketing mix

Question 40

4 parts of marketing mix

Answer 40

1. product 2. pricing 3. place or destination 4. promotion

Question 41

five (5) external dimensions that affect the marketing mix variables

Answer 41

1. political legal 2. economic 3. technological 4. socio-cultural 5. environmental

Question 42

used to describe the combination of tactics used by a business to achieve its objectives by marketing its product

Answer 42

marketing mix

Question 43

who originally developed marketing mix with 6 elements

Answer 43

Prof Neil Borden of Harvard

Question 44

what are the 6 elementsnof marketing mix accdg. to prof Neil Borden

Answer 44

1. product 2. planning 3. pricing 4. distribution 5. promotion 6. servicing ang market research

Question 45

who reduced into 4 elements?(product, price, place and promotion) and when was it?

Answer 45

McCarthy

Question 46

who came up with 7p's of marketing and when was it?

Answer 46

boom and bitner, 1981

Question 47

what are the 3 elements thay boom and bitner came up with

Answer 47

physical evidence, people and process

Question 48

7 p's of marketing

Answer 48

1. product 2. price 3. promotion 4. place 5. people 6. process 7. physical evidence

Question 49

actual item that consumer purchase with packaging

Answer 49

product

Question 50

amount of money or goods for which a thing is bought

Answer 50

price

Question 51

communication used to inform the target market

Answer 51

promotion

Question 52

channel that product is distributed and made conveniently avail for customers

Answer 52

place

Question 53

directly and indirectly involved in the business side of the enterprise

Answer 53

people

Question 54

how the business runs, how business delivered and how product is packed

Answer 54

process

Question 55

it is about the proof of purchase, soc med logo in your building, email packaging, store decor

Answer 55

physical evidence