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MKT243 April 2010
Transcript of MKT243 April 2010
AZRIL MIZAM BIN AZMAN 2012280864
NURUL HAMIEZAH BT ABD HALID 2012863768
NUR BAITI BINTI RAMZI 2012852606
NUR A'ISYAH YUSOF 2012810426
NOOR HAZIRAH BINTI AZIZ 2010166563 MKT243
2010 THANK YOU 1. Marketing is defined as producing, promoting and selling products. FALSE -Chapter 1- "Strive for excellence, not perfection."
~ H. Jackson Brown Jr.~ 2. An exchange can't take place unless each party in the exchange has something that the other party values. TRUE -Chapter 1- 3. The marketing concept states that the social and economic justification for an organization's existence is the satisfaction of customers' wants & needs while meeting organizational objectives. TRUE -Chapter 1- 4. ExxonMobil was fulfilling its philanthropic responsibility when it partnered with the National Fish and Wildlife Foundation to save the world's remaining tigers by donating more than $11Million to establish the Save the Tiger Fund. TRUE -Chapter 2- 5. Psychography is the study of people's vital statistics such as their ages and locations. FALSE -Chapter 2- 6. The purchase of products like soft drinks, cleaning products and petrol generally exemplify routine response behavior. TRUE -Chapter 3- 7. A stimulus is a unit of input from either an external or internal source that can affect sight, smell, taste, touch or heating. TRUE -Chapter 3- 8. AIDA stands for Attitudes-Involvement-Decision-Action. FALSE -Chapter 9- 9. Global Travel Agency is a small business that creates personalized vacations for its customers and is now in the process of identifying groups of travelers who have relatively similar vacation dreams. The business is engaged in the process of market segmentation. TRUE -Chapter 4- 10. A product may be defined as everything, both favorable and unfavorable, that a person receives in an exchange. TRUE -Chapter 5- 11. Product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristics of the product. TRUE -Chapter 5- 12. Social factors include age, occupation, sex, races, and birth rate. FALSE -Chapter 2- 13. The most important functions of packaging are to contain and protect products, promote products, facilitate product storage and facilitate recycling. TRUE -Chapter 5- 14. The two techniques that are considered most useful for generating new-product ideas are customer-generation and competitive imitation. FALSE -Chapter 6- 15. A marketing channel is a business structure composed of independent organizations that reach from the point of product origin to the final consumer. Its purpose is to move products to their final consumption destination. TRUE -Chapter 7- 16. Specialty discount stores are often called category killers because they dominate the competition in their narrow merchandise segment. TRUE -Chapter 8- 17. The advantages of newspaper advertising are geographic flexibility and timeliness. TRUE -Chapter 10- 18. Personal selling becomes a more important promotional tool as product complexity and buyer risk increase. TRUE -Chapter 10- 19. Status quo pricing objectives indicate that prices are adjusted to meet the competition. TRUE -Chapter 12- 20. Functional discounts, noncumulative quantity discounts and promotional allowances are examples of rebates given to the trade customer. FALSE -Chapter 10- B 1. A business is concerned with many day-to-day activities. Some of the most important of these activities are the planning and development of a product, its pricing policy, and the distribution strategy. These activities are all a part of:
A. a control system
D. production 2. In order for exchange to occur:
A. a complex societal system must be involved
B. organized marketing activities must also take place
C. a profit-oriented organization must be involved in the process
D. each party must have something the other party considers to be valuable 3. Firms with a ____ orientation focus on the internal capabilities of the firm rather than on the desires and needs of the marketplace.
D. customer 4. A ____ orientation assumes marketing means selling things and collecting money. It also assumes people will buy more goods and services if aggressive marketing techniques are used.
D. customer 5. The pyramid of corporate social responsibilities contains all of the following components EXCEPT:
A. economic responsibilities
B. ethical responsibilities
C. cultural responsibilities
D. legal responsibilities 6. After a need or want is recognized, a consumer may be motivated to clarify the options available and generate an evoked set of brands. This occurs during which part of the consumer decision-making process?
A. evaluation of alternatives
B. information search
C. need recognition
D. consideration stage 7. Robin, a college student, tends to buy the same brands of toothpaste, shampoo, and deodorant as her , which is often the strongest source of group influence upon the individual for many product purchases.
A. psychographic group
B. social class
D. subculture 8. Which of the following is NOT likely to be a demographic characteristic of a population?
A. income level
D. education 9. The purpose of market segmentation is to:
A. reduce the market down to a specific size that the firm can handle
B. divide the market into equal size and profit regions for sales territories
C. group a large number of markets together enabling a company to serve them simultaneously
D. enable the marketer to tailor marketing mixes to meet the needs of one or more specific groups 10. IBM has developed a formal, written guideline to help marketing managers and employees make better ethical decisions. This document is a:
A. behavioral practice
B. moral ruling
C. code of ethics
D. direction of value 11. Most people under the age of 25 have a strong belief in their own personal invincibility. An insurance agency targeting this group for life insurance would find this market segment categorizes the insurance as a(n) product.
A. heterogeneous shopping
D. relationship 12. At what stage of the new-product development process are most new-product ideas rejected?
A. test marketing
B. Idea generation
C. business analysis
D. idea screening 13. A(n) is an institution that buys goods from manufacturers, takes title to these goods, and resells them to businesses, government agencies, and/or other wholesalers or retailers.
A. merchant wholesaler
D. channel cooperative 14. When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs.
A. penetration pricing
B. price-insensitive demand
D. price elasticity 15. Which of the following types of stores has a high gross margin, a narrow product assortment, and a high level of service?
B. warehouse club
C. convenience store
D. specialty store C Question 1 Answer Exchange is the key concept in the definition of marketing. List five (5) conditions that must exist for an exchange to occur. -CH1- 1. There must be both parties.
2. Both parties must have something to offer to other party.
3. Both parties must be willing to exchange and are allowed to reject others' offer.
4. Both parties must be capable to communicating and delivering.
5. Both parties must make a deal. Question 2 Answer Organizations have three (3) options when it comes to distribution intensity. Name and briefly describe these two (2) levels. Give examples of two (2) products that logically would be distributed at each level of intensity. -CH7- 1. Intensive level - A form of distribution aimed at having a product available in every outlet such as chewing gum and cigarettes.
2. Exclusive level - A form of distribution that established one or a few dealers within a given area such as specialty items and industrial equipment. Question 3 Answer Describe two (2) functions of packaging.
-CH5- Promote products - A package differentiates a product from competitor's items.
Contain and Protect Products - Enables to market their products with a specific quantities. Package also protect products from breakage, evaporation, spillage etc. Question 4 Answer Define the three (3) different types of co-branding. -CH5- 1. Ingredient branding - Involves creating a brand for an ingredient or component of a product.
2. Complementary branding - Involves two different brands together to encourage co-consumption or co-purchases.
3. Cooperative branding - A joint venture of two or more brands into a new goods, service, or brands. Question 5 Answer To be useful, segmentation must produce segments that meet four (4) basic criteria.
Discuss any two (2) criteria for successful segmentation. -CH4- 1. Substantially - A segment must be large enough to warrant developing and maintaining a special marketing mix.
2. Identifiability and measurability - Segments must be identifiable and their size measurable which can be found in the data research about their demographic and geographic characteristics. Question 6 Answer The presentation of a retail store to its customers helps determine the store's image. The main element of a store's presentation is its atmosphere. Describe any two (2) major determinants of store atmosphere. -CH8- 1. Sound - Sound can be pleasant or unpleasant for a customer. Music can also entice customers to stay in the store longer and buy more products.
2. Odours - Smell can either stimulate or detract from sales. Example, The wonderful smell of pastries and bread entices bakery customers. Question 7 Answer List five (5) categories of new products. -CH6- 1. New-to-the-world.
2. New product lines.
3. Improvements or revision of existing product
4. Additions to existing product lines.
5. Repositioned products. D Question 1 Identify and discuss four (4) philosophies of marketing. 1) production orientation: 2) Market orientation:
# available & highly affordable. # Wants & Needs
# abilities. # Eg: Nestlé
# Eg: car companies
3) Sales orientation: 4) Societal marketing orientation:
# Large-scale promotion. # Consumer & company
# High sales - high profit. # Society
# Eg: door-to-door sales # Eg: organic farm, hospital Question 2 One important reason channel members are included between producers and end users are to overcome discrepancies. Name and describe four (4) discrepancies channel members overcome. 1) discrepancy of quantity.
# amount of product produced & amount of demand
# product available in the quantities that buyers desired.
2) discrepancy of assortment.
# lack of all items to receive full satisfaction.
# assemble assortments of products that buyers want.
3) spatial discrepancy.
# location of producer & location of markets.
# allowing the products to be distributed.
4) temporal discrepancy.
# customers are not ready to buy it.
# maintaining inventories. Question 3 Discuss with an example the component of promotional mix. Chapter 1 Chapter 1 Chapter 1 Chapter 1 Chapter 3 Chapter 2 Chapter 3 Chapter 2 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 12 Chapter 8 Chapter 1 Chapter 7 1) Advertising
# one way communication
# Traditional & new methods of advertising
2) public relations.
# help company maintain positive image
# introduce new products
3) personal selling
# paid-for communication between two people or more
# eg: insurance policies
4) sales promotion.
# stimulate consumer purchasing and dealer effectiveness.
# short-run tools Question 4 a) Define product line pricing Chapter 11 & 12 a) Product line pricing.
# the practice of offering a product line with several items at specific price points.
# Eg: iPhone b) Discuss three (3) relationships among product lines that managers must be aware of before setting prices. For each relationship, give example of a product that fits the situation. 1) complementary.
# manufactured, sold together, bought and used together
# support each other
# can be replacing to each other
# depends on customer observation
# unrelated between two products
# does not affect each other Chapter 2 Chapter 10 True False
Questions GROUP 5