Midterm for Principle of Marketing

A. Instruction: Choose the best answer.

1. ______ is the activity, set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners, and society at large?
a. Selling
b. Promoting
c. Marketing
d. Sales
2. This concept is all about learning as much as you can about your customers, and only then
creating a product that you know they need?
a. Marketing concept philosophy
b. Product Concept
c. Sales philosophy
d. Societal Marketing Concept Philosophy
3. ________ is a management concept whereby companies integrate social and environmental
concerns in their business operations and interactions with their stakeholders.
a. Societal Marketing
b. Corporate Social Responsibility
c. Corporate Shared Value
d. Relationship philosophy
4. These are the needs which the consumer feels reluctant to admit?
a. Secret Need
b. Need
c. Demand Need
d. Mystery Need
5. ________ is a state of felt of deprivation about something that is deemed to be necessary?
a. Want
b. Desire
c. Purchasing Power
d. Need
6. It is a demand for the things that most people perceive as bad?
a. Bad Demand
b. Negative Demand
c. Nasty demand
d. Unwholesome demand
7. An assessment of how easy it is for suppliers to drive up prices?
a. Supplier power
b. Buyer power
c. Threat of new entry
d. Competitive rivalry
8. Customers are unaware or uninterested in these types of product?
a. No demand
b. Unaware Demand
 c. Non-existent demand
d. Negative Demand
9. This is the study of consumers and the processes they use to choose, use (consume), and
dispose of products and services, including consumers’ emotional, mental, and behavioral
responses?
a. Consumer Study
b. Psychology
c. Economics
d. Consumer behavior
10. It is when a person is motivated enough, it influences the buying behavior of the person?
a. Motivation
b. Perception
c. Learning
d. Attitudes and Beliefs
11. It is a group of people with whom a person associates himself?
a. Reference Groups
b. Roles and status
c. Family
d. Tropa
12. It refers to the factor/elements within the organization which may effect, either positively or
negatively, the performance of the organization?
a. Internal business environment 
b. Environment
c. Business Environment
d. External business environment
13. It will happen if the number of customer willing to buy is greater than the supply in the market?
a. Surplus Demand
b. Overfull Demand
c. Over Demand
d. Overload Demand

14. When a person has a higher disposable income, the __________ increases simultaneously?
a. Purchasing Power
b. Budget
c. Income
d. Money
15. An assessment of how easy it is for buyers to drive prices down.?
a. Supplier power
b. Buyer power
c. Threat of new entry
d. Competitive rivalry
16. It refers to the factors/elements outside the organization which may affect, either positively or
negatively, the performance of the organization?
a. Internal business environment 
 b. Environment
c. Business Environment
d. External business environment
17. This a factor where the concern is ecological impacts on business. As weather extremes become
more common, businesses need to plan how to adapt to these changes.
a. Environmental
b. Legal
c. Social
d. Political
18. ________ encompasses all the external factors that compete with the services or products of
the small business?
a. Competitor
b. Competitor Factor
c. Competitive Environment
d. Competition
19. This concept favors high-quality products and holds the belief that the consumers won’t mind
the high price because of the quality?
a. Marketing concept philosophy
b. Product Concept
c. Sales philosophy
d. Societal Marketing Concept Philosophy
20. A firm that sells the same products and services as you in the same markets?
a. Indirect Competitor
b. Direct Competitor
c. Potential Competitor
d. Replacement

B. Instruction: Complet the following Diagram Note: TYPE YOUR ANWERS IN CAPSLOCK
21. MARKET
22. PRICE
23. PROMOTION
24. COMMUNICATION
25. PLACE

26. SELLING CONCEPT

THE SELLING CONCEPT
27. PRODUCT
28. PROFIT THROUGH SALES VOLUME
29. TARGET MARKET
30. INTEGRATED MARKETING

C. Enumerate the following (Note: TYPE YOUR ANWERS IN CAPSLOCK)

five types of consumers’ needs (5 Items)

31. STATED NEEDS

32. REAL NEEDS
33. UNSTATED NEEDS
34. DELIGHT NEEDS
35. SECRET NEEDS

Eight Demand States ( 8 ITEMS)

36. NEGATIVE DEMAND

37. NON-EXISTENT DEMAND
38. LATENT DEMAND
39. DECLINING DEMAND
40. IRREGULAR DEMAND
41. FULL DEMAND
42. OVERFULL DEMAND
43. UNWHOLESOME DEMAND

Factors that affect consumer behavior

44. PYSCHOLOGICAL FACTORS

45. SOCIAL FACTORS

46. CULTURAL FACTORS

47. PERSONAL FACTORS

48. ECONOMIC FACTORS

Components of business environment (2 items out of 3 )

49. INTERNAL BUSINESS ENVIRONMENT

50. EXTERNAL BUSINESS ENVIRONMENT
COMPETITIVE ENVIRONMENT