Answer Sheet: Module 2

Course Subject: MM101 (Marketing Management 101)

Name: Ayessa Collette D. Jesalva Course & Block: 2BSBA-MM1

Schedule: Week 1 – Aug.16-20, 2021 Contact Number: 09176312016

Answers:

FOR TRIVIAS

1. The Twitter logo is named after a basketball legend--the sporting idol named Larry T.
Bird. The animal species that was featured in the very first Instagram post was a dog!
2. The one and only, Steve Jobs.
3. It was none other than Simon Sinek.

PRETEST (True / False)

1. True
2. True
3. True
4. False
5. True

ACTIVITY 1:

Answers for Activity Questions:

1 (1) What is the significance of theoretical concept in marketing?

–Understanding basic theoretical concepts and theories of marketing will
help a business make more effective business decisions with the emphasis on
research such as generating information on marketplace data. Theoretical concept
in marketing is significant because good to great marketing decisions are based
on theory development. it is essential that thoeretical concept in marketing aid in
explaining and integrating known information wherein theories provide an
understanding for predictions of what can result from future decisions. Without
theory in marketing practice, each decision will be from a blank slate with no
direction and right diversion of multipe data that can be used to marketing’s
advantage.
2 (2) Discuss the buying process for organizations. Who would influence the
decision-making?
--In the buying process for organizations, it consists five main roles in its
buying center and they are the users, influencers, buyers, deciders, and
gatekeepers. According to an article from lumenlearning.com, in a generic
situation, one could also consider the roles of the initiator of the buying process
(who is not always the user) and the end users of the item being purchased. Also,
Answer Sheet: Module 2
Course Subject: MM101 (Marketing Management 101)
organizational factors such as the company’s objectives, purchasing policies, and
resources can influence the buying process and decision-making, the size and
composition of the buying center also plays a role in the business buying decision
process. In my opinion, all the main roles mentioned together with the marketing
team, can make the buying process as smooth as possible.

Hook Activity (Done watching)

Reaction paper of the suggested videos:

At the first funny video on Marketing versus Sales team via dodgeball, I thought at
first that I will garner significant and distinct information between the two; marketing and
sales but it was very short and their chatters of the characters are not clear enough.
However, they made clear on their faces that marketing and sales does not personify one
team, for they tackle a much drastic difference between them even though there is
oftentimes a misconception that sales and marketing is just synonymous which is far from
the truth based on their roles in an organization or company.

For the second video, Epic Viral Marketing Videos, I was amazed. There are ad
clips that resonated and remained in my mind like that of Volvo’s with the famous live
action split of Jean Claude Van Damme, then the LG’s elevator prank and of course, I will
not have left behind in my choices the one out of many Coca-Cola’s effective marketing
video which was all about unifying race, making peace and sharing happiness even they
are a country away as seen from the video (India and Pakistan).

VIDEO VIEWING: Reflection

The marketing concepts: Traditional and Modern, truly made me reflect how
marketing is continuously evolving and that every marketer should not just stay put and
be contented in what he or she knows and attained as a marketing professional because
it is clearly evident that strategies in the past marketing field may not work anymore in the
present competitive market hence every marketer and future marketers should enable
oneself to strive for continuous research on new marketing strategies as to be a valuable
asset to a team, organization or company.

ANALYSIS (Making Meaning and brainstorming)

In my analysis, Modern and Tradition concept of marketing procures the idea that
marketing is evolving and its central values bring forth the type of effective marketing in
today’s noisy and easily distracted world down to its market. In the past, traditional
marketing is much simpler with little connections and relationships involved but with
modern marketing, there is a turnaround where deeper social engagement is a must for
it builds trust with conveyance of service and heart of a business.
Answer Sheet: Module 2
Course Subject: MM101 (Marketing Management 101)
Activity

1. What are the importance of marketing? Discuss.

Marketing is important because it allows businesses to maintain long-lasting and
ever-present relationships with their audience. It is not a one-time fix, it is an
ongoing strategy that helps businesses flourish. One important aspect of marketing
is it engages, wherein customer engagement is the heart of any successful
business. Moreover, marketing informs, sustains, equalizes, engages, sells and
grows a business.

2. What are the marketing strategies? Discuss briefly.

Simply discussing, marketing strategies goes around rhe 7 P's of marketing that
includes product, price, promotion, place, people, process, and physical evidence.
These seven elements comprise the marketing mix, the mix that strategically
places a business in the market and can be used with varying levels of force which
produces more effective and hyper focused strategies.

CASE STUDY (Analyzation & Discussion whether the change of an existing brand
name or logo or a brand extension by an established brand like Zara is a good move)

Analysis and Discussion: There is an old and famous adage which says that change is
inevitable. Plus, there is a line in the business world that says that a business should
adapt to change to remain flexible throughout the span of years. With these tried and
tested adages, the specific change of logo might have been done in the right time and
just might be the right approach to the changing times and trends but due to the result of
not-so-good reaction of consumers, veteran designers, and online citizens, there should
be a thorough review on how the change of logo was planned and designed to cater a
broader appeal and smooth transition. In my own generalization of the analysis, the
change of logo may not had been welcomed with high praise but it is still considered a
good move with its publicity stunt as the brand moves forward with its clothing line.

CLOSURE: SELF-ASSESSMENT OF ONE’S READINESS TO DO PERFORMANCE

TASK

LEARNING Easy, I get it. Well, more OMG, I still need

SKILLS examples please. help…

I can IDENTIFY the

three classification of
marketing function
Answer Sheet: Module 2
Course Subject: MM101 (Marketing Management 101)
I can EXPLAIN the
concept of marketing

2. I can IDENTIFY the

functions of exchange
components

EXPLAIN the functions

of exchange and its
component

3. I can IDENTIFY the

Function of Physical
Supply components

I can EXPLAIN the

Function of Physical
Supply and its
component

4. I can Identify the

Facilitating Functions
components

I can EXPLAIN the

Facilitating Functions
and its component

5. I can DISCUSS the

concept of Channels of
Distribution

I can ELABORATE the

processes of channels
of distribution and
other factors

POST TEST: Evaluation

1. The ______ goal of an enterprise is of vital interest to its marketing department

a.) Product

b.) consumer satisfaction

c.) Social service

Answer Sheet: Module 2
Course Subject: MM101 (Marketing Management 101)
d. Profit

2. Through competent advertising and marketingmanship, marketing serves to educate

the people about the availability of goods and services which would best fulfill their
needs and desires.

a.) consumer satisfaction

b.) Social service

c.) product

d.) Educational value

3.) As an enterprise grows, function such as production, finance, and marketing get
more complex and are therefore, split in to smaller parts.

a.) Educational value

b.) consumer satisfaction

c.) Social service

d.) Organizational Integration

4.) _______ consist of collection of goods and services at a place where the sellers and
buyers are expected to meet for transacting the business

a.) Merchandising

b.) Process of dispersion

c. Distribution function

d. Process of concentration

5.) Marketing involves a regular interaction with the present and potential users and
consumers of goods and services with a view to ascertaining their needs and desires.

a.) Increase in National income

b.) Improvement in living standards

c.) Distribution function

d.) Production of socially Useful Products

Discussion. Discuss briefly.

Answer Sheet: Module 2
Course Subject: MM101 (Marketing Management 101)
1. What are the different objectives of marketing management?
The different objectives of marketing are; consumer satisfaction, profitability,
organizational integration and social service.
2. Discuss briefly the concept of organization of marketing function.
To sum up the concept of organization of marketing function, it is best discussed
with explaining that Marketing is an organizational function and a set of
processes for creating, capturing, communicating, and delivering value to
customers and for managing customer relationships in ways that benefit the
organization and its stakeholders.

Additional References Used:

https://smallbusiness.chron.com/examples-marketing-theory-21058.html

https://courses.lumenlearning.com/boundless-marketing/chapter/the-business-buying-
decision-process/

https://movingtargets.com/blog/business-marketing/why-marketing-is-so-important/

http://connect.mheducation.com