Which of the following best describes cost-based pricing approach?

This corresponds to the tangible characteristics of the product, including its features and packaging.

This level refers to service-based add-ons that customers are entitled to upon purchasing the product.

It involves the separation of goods and their variations into categories by creating gaps to emphasize differences in quality.

These are goods purchased by businesses and are used in the creation of a new product that shall be eventually sold to others.

It is a group of similar products offered by the same company under the same brand.

It refers to the benefit that a consumer can gain from using a product.

It is a type of pricing approach where the main product is charged with a lower price but additional charges apply.

It involves setting a high price for a product to gain as much profit as possible before the number of competitors offering the same product increases

It a pricing scheme where a low initial pricing is set to attract customers, improve sales and eventually eliminate competition.

This relates to how you make your product accessible to your target market.

These are individuals or groups of individuals who link the producers/manufacturers to other intermediaries or consumers.

A face-to-face technique wherein the salesperson uses his or her persuasive skills to convince a customer to buy a particular good or service.

It refers to all activities involving the sale of goods or services directly to the final consumers.

It is a network composed of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value.

These are type of full-service wholesalers that offers a wide variety goods.

It refers to the traditional mass media vehicles of print, radio and television

It is the most expressive of the promotion types, relying heavily on visual, color, words and sounds.

It is the practice of communicating with the media and the general public to establish a strong relationship between a target audience and an organization, company, or individual.

It is a form of marketing and advertising in which company communicates and interacts with its target audience directly, without “middlemen or intermediary entities.

It includes freebies, incentives, commissions, and discounts given to wholesalers, retailers and distributors.

Which of the following is a tool for communicating a product?

It includes traditional mediums, such as magazines, newspapers, yellow pages and billboards.

Which of the following is the correct order of the marketing planning process? I. Evaluate Performance and Execute Marketing Control II. Identify Opportunities III. Implementation of Marketing Mix IV. Formulate Business Mission Objectives V. Conduct Situation (SWOT) Analysis/Market Analysis

It is a document containing the marketing objectives, marketing strategies, and the activities that will be undertaken to execute these strategies.

Which of the following describes a company’s reason for its existence?

It means to further analyze the external environment of a company.

This component of market analysis describes the general movements and latest changes in the market and identifies important reasons for such changes.

Which of the following statement is true about strength of the SWOT analysis?

It involves collecting and analyzing information according to the physical location of the customer or other data source.

It is a marketing strategy in which a company tries to gain customers from more than one type of market for the same product and uses.

It is a marketing segmentation strategy that divides the target market according to social class, lifestyle, or characteristics

It refers to the process of assessing the target market in terms of the perceived attractiveness of a product and deciding how to reach the target market.

It is the process of letting the target customers have a clear and distinct understanding of what the product or service represents its competitors.

These are symbols, name design, or a combination of these that identifies the product distinctly from its competitors.

It indicates the name of the manufacturer, the expiration date, ingredients of the composition of the product, instructions on how to use the product, and other essential information.

It helps the organization in evaluating its activities and determine whether the company is taking advantage of the best opportunities in terms of target markets and marketing channels.

This marketing tool customer orientation, the integration of other functions with the marketing function and coordination of functions with one another.

It determines the areas where the company is making or losing money.

It is a systematic way of evaluating the attitudes, feedbacks and reactions of customers to marketing activities.

It determines the overall standing of the company against its competitors.

It focuses on the analysis of the marketing budget.

This strategy emphasizes making products that meet customer needs and make a difference in their life.

Which of the following statements best describe a perceived quality pricing?

It includes the physical features of the product, the preferences of the customer and the materials and design of the packaging.

It comprised only of a single product line but offer extensive customer service for the products.

It means reaching an agreement on price and other terms so that ownership or possession can be transferred.

It consists of sales activities that help increase the sales of a product or service.

If often involves the use of media to encourage consumers to visit below-the-line channels.

It refers to more targeted, smaller scale executions including the use of social media