Periodical Exam

Question 1

Marketing Philosophies:

Answer 1

Relationship Marketing
Marketing Strategies

Question 2

Focused on building long-term customer relationships and satisfaction.

Answer 2

Relationship Marketing

Question 3

Aim to maximize return on investment, customer satisfaction, and brand
acceptance.

Answer 3

Marketing Strategies

Question 4

Market Entry Strategies:

Answer 4

*Product Adaptation and Promotion Extension
*Product Extension and Promotion Adaptation
*Market Development

Question 5

Modifying the product to adapt for a new market
while keeping promotional strategies intact.

Answer 5

Product Adaptation and Promotion Extension

Question 6

Modifying the promotional strategies to adapt for a new market while keeping the product

Answer 6

Product Extension and Promotion Adaptation

Question 7

Expanding existing products into new markets to increase sales.

Answer 7

Market Development

Question 8

Examples of Green Marketing:

Answer 8

Using post-consumer waste, reducing packaging, promoting recycling.

Question 9

Examples of Not Green Marketing:

Answer 9

Sending electronics abroad for disposal.

Question 10

Factors Beyond Company Control:

Answer 10

Economic conditions, changing consumer trends, and natural disasters are external factors.

Question 11

Elements of Marketing:

Answer 11

Communication and Promotion
Marketing Products

Question 12

Involves advertising, sales promotion, public relations, and other strategies.

Answer 12

Communication and Promotion

Question 13

Tangible products perceivable by human senses; services are also part of market offerings.

Answer 13

Marketing Products

Question 14

Physiological requirements like food, shelter, and clothing.

Answer 14

Needs

Question 15

Preferences improving life conditions; psychological desires.

Answer 15

Wants

Question 16

Wants backed by purchasing power.

Answer 16

Demands

Question 17

Marketing Approaches:

Answer 17

Traditional Marketing Approach
Contemporary Marketing Approach

Question 18

Focus on production methods, product quality, and effective selling methods.

Answer 18

Traditional Marketing Approach

Question 19

Emphasizes customer needs, value, and relationships.

Answer 19

Contemporary Marketing Approach

Question 20

How to handle Difficult Situations in customer service:

Answer 20

Apologies should be immediate, sincere, and personal when necessary.

Question 21

Customer Feedback in customer service:

Answer 21

Should be focused, outgoing, and available to every employee.

Question 22

How to Building Customer Loyalty in relationship marketing:

Answer 22

Focus on understanding customer characteristics, preventing negative transitions, and expanding the product market.

Question 23

Customer Service:

Answer 23

Handling Difficult Situations
Customer Feedback

Question 24

Relationship Marketing:

Answer 24

Brand costumer loyalty

Question 25

Customer Value and Loyalty:

Answer 25

Customer Value Proposition
Customer Loyalty:

Question 26

Customer Value Proposition:

Answer 26

Communicates unique benefits to the customer.

Question 27

Customer Loyalty:

Answer 27

More cost-effective than acquiring new customers, relies on excellent customer service.

Question 28

Market Expansion Strategies:

Answer 28

Market Penetration
Market Development
Product Development
Unrelated Diversification

Question 29

Selling existing products in existing markets.

Answer 29

Market Penetration

Question 30

Introducing existing products to new markets or geographical areas.

Answer 30

Market Development:

Question 31

Introducing new products to existing markets.

Answer 31

Product Development

Question 32

Entering new, unrelated markets.

Answer 32

Unrelated Diversification

Question 33

Marketing Implementation:

Answer 33

Sequential Series, General Plan of action, Shorter period of time strategic planning, Strategic Decision, Activities to lay-off employees

Question 34

Sequential Series:

Answer 34

Action Plan

Question 35

General Plan of action:

Answer 35

Strategic Marketing

Question 36

Shorter period of time strategic planning:

Answer 36

Tactical Marketing

Question 37

Strategic Decision:

Answer 37

Activities to expand or divest from certain sectors

Question 38

Activities to lay-off employees:

Answer 38

Retrenchment

Question 39

Purpose of CRM:

Answer 39

Increase customer loyalty, track customer information, and assist business decision-making.