Principles of Marketing

Quiz # 1

Name: _________________________ Date: ____________

Year & Section: _________________ Score: ____________

I. Identification: Identify the term defined or described in each item. Write your answer on the
space provided before each item number.

Marketing 1. It is a form of communicating or promoting the value of a product,

service, or brand to the consumers.
Markets 2. They are the set of actual and potential buyers of a product.
Product innovation 3. It is the creation and subsequent introduction of
a good or service that is either new, or an improved version of previous
goods or services.
Customer Satisfaction 4. It is a measure of how products and services supplied by a company
meet or surpass customer expectation.
Selling Concept 5. It is a concept that assumes that customers are generally timid and must
be persuaded into buying.
Traditional Approach 6. It is a marketing approach that focuses on production methods, product
quality, and effective selling methods as profit drivers in marketing.
Customer Value 7. It is the amount of benefits which customers get from purchasing
products and services.
Marketing Concept 8. The objective of this concept is to provide a solution to the customer’s
actual or perceived problem.
Production Concept 9. It is a concept that concentrates into expanding distribution and
improving production efficiency.
Contemporary Approach 10. It is a marketing approach that focuses on customer, relationships,
and the well-being of society.

II. Enumeration: Give what is being asked for below.

1. What are the seven (7) goals of marketing?

2. Traditional marketing is the most recognizable type of marketing, encompassing the
advertisements that we see and hear every day. Enumerate the traditional approaches to
marketing that are being used in the business industry.
3. Give the three (3) contemporary approaches to marketing.
4. What are the 4 P’s of marketing? Give a brief description each.