Principles of Marketing

Fill in the blanks

1. Better marketing ____ low cost
2. low cost more buying power _______

Identify if its a Needs(N), Wants(W), or Demands(D)

3. __coca-cola
4. __sports car
5. __water
6. __wrist watch
7. __rice
8. __MK bag
9. __shirt and pants
10. __adidas shoes
11. __slipper
12. __ice cream

Multiple Choice
Marketing Management Philosophies:
a. production concept
b. product concept
c. selling concept
d. marketing concept
e. societal marketing concept
13. __Focuses on needs/wants of target markets & delivering satisfaction better than
competitors.
14. __Consumers favor products that are available and highly affordable.
15. __Improve production and distribution.
16. __Focuses on needs/wants of target markets & delivering superior value.
17. __Consumers will buy products only if the company promotes/sells these
products.

Identification
18. _________ act of obtaining a desired object from someone by offering
something in return.
19. _________ trade of values between parties. Usually involves money and a
response.
20. __________ building long-term relationship with consumers, distributors,
dealers, and suppliers
21. __________ anything that can be offered to the market for attention,
acquisition, use or consumption and that might satisfy a need or wants.
22. __________ activities or benefits offered for sale that are essentially intangible
and dont result in the ownership of anything.
23. __________ Process by which individuals and groups obtain what they need and
want through creating and exchanging products and value with others.
24. __________the delivery of customer satisfaction at a profit.
25. __________Arrangement to provide an opportunity to exchange goods and
services.
26. __________ benefit that the customer gains from owning and using a product
compared to the cost of obtaining the product.
27. __________ depends on the products perceived performance in delivering value
relative to buyers expectations.

Matching Type

a. initiators
b. gatekeepers
c. influencers
d. deciders
e. purchasers
f. users

28. Consume the purchased product of service.

29. Obtain the purchased product or service.
30. Say yes or no to the contemplated purchases.
31. Have a say in whether a purchase is made and what is bought.
32. Control information and vendor access to corporate decision makers.
33. Determine which vendors get the chance to sell.
34. Recognize that a company problem can be solved or avoided by acquiring a
product of service.

Enumeration
35. List at least three(3) part functions or sub-function of marketing.
Answer keys:
1. mass production
2. higher standard of living
3. W
4. D
5. N
6. D
7. N
8. D
9. N
10. D
11. N
12. W
13. D
14. A
15. A
16. E
17. C
18. Exchanges
19. Transactions
20. Relationships
21. Products
22. Services
23. Marketing
24. Marketing
25. Market
26. Customer value
27. Customer satisfaction
28. F
29. E
30. D
31. C
32. B
33. B
34. A
35. buying, Selling, Transport, Warehousing, Financing, Risk Management