Principles of Marketing - Midterm Examination

A marketing mechanism of persuasively informing the target market about the product.

are forms of needs that are highly influenced by the lifestyle, culture, and practices of the human person.

It answers the basic question of how much the price of the goods or services will be.

A contemporary approach to marketing that is concerned with the welfare of the community.

are marketing orientations that guide business organizations in developing marketing strategies

A specific measure taken by a business to make the customers realize that they are saving more while using a product.

Founded on the philosophy that consumers highly prefer products and services that are readily available and affordable.

defines the long-term direction of the business.

refers to the place where the seller and buyer meet and negotiate,

suggests that a product or service shall be offered in the market lower than a competitor's price.

Needs are the basic requirements of the human person to survive.

a method of analyzing and evaluating the value of goods and services as perceived by a customer.

marketing concept’s innovative approach that highly considers the welfare of society

The business is focusing in satisfying the needs of the consumers.

Its primary goal is to retain current customers by satisfying their needs and wants.

a marketing philosophy working on the idea that consumers would highly prefer goods and services

refer to the attributes of a product or service becoming valuable, beneficial, and marketable.

This marketing approach is very much applicable for business-to-business transactions.

the characteristic of a product or service being available at the time the customer needs it

are forms of human wants supported by their financial ability to buy

based on the philosophy that consumers will buy goods and services that can satisfy their needs and wants.

It has something to do with how the product will reach the final consumers.

a marketing philosophy that believes consumer will buy product by aggressive promotion and selling activities

describes what the business is currently doing to achieve the vision

the study of marketing focuses on the decision-making process relative to the marketing activities of the business

the focus is on a specific commodity of interest and analysis

based on the philosophy that consumers will buy goods and services that can satisfy their needs and wants.

is primarily caused by the continuous competition happening in the market.

the study focuses on the functions comprising the entire marketing process of goods and services

refers to the usefulness of owning a product or service that the customer perceives as its value

D needs and wants of consumers are evaluated from the perspective of the whole society and not from individual customers

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It focuses on maintaining a strong relationship with the current customers.

an attribute of the product or service that provides convenience and comfort to the customers when they need and buy it.

works on the philosophy that excellent and superior service enhances customer value.

means producing more from the same given input or incurring less cost to produce the same output

the study of marketing is just one of the important units comprising the entire system

refers to the benefits obtained by a customer from goods or services in exchange for the monetary value being paid.

a type of value that can be derived from the product or service being offered

A set of marketing tools intended to strategically market the product to customers and elicit favorable responses.