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Anna Zarkada
1.
17/01/2016
Marketing Principles
John gave the ticket seller $8 to acquire a ticket to a concert. This is an example of an exchange
2. An organization that emphasizes marketing uses long-term planning and concentrates on beating its
competitors
3.
Market segmentation implies that each individual should be treated as a separate market segment
4. Positioning is the strategy by which one firm attempts to distinguish its product from competitive
brands offered to the same market
5. A market researcher would use government statistics as a source when gathering secondary data for
a marketing research project.
6. The marketing objective for a product in the introduction stage of the product life cycle (PLC) is to
maximise profits.
7. There is no exact time that a product takes to move through its life cycle. As a rule, computers have
longer life-cycles than fridges.
8.
Brand equity is carefully crafted and nurtured by marketing programs
9.
Television is an example of a traditional advertising medium
10. The person who sees or hears the ad is called the sender
11. A person looking for a street sign at night on a busy road is distracted by a large neon sign. In
communication process terms, the neon sign is noise
12. The process of a seller speaking directly to a buyer is known as sales promotion
13. Advertising expenditure varies significantly according to the stage of the PLC
14. While public relations are carefully placed to achieve particular reach and frequency objectives, the
results of advertising efforts depend on the experience and skill of the people executing them
15. The purpose of marketing that goes above and beyond making money is to increase market share
and beat competitors
16. Viral advertising is a type of advertising, usually online but feasibly elsewhere, that matches the form
and function of the platform upon which it appears.
17. There are many perfumes on the market, but only one that breaks down fragrances into elements so
people can wear the particular scents with which they have emotional ties. The perfume’s name is
Demeter, and it makes over 150 different fragrances with names like Dirt, Lobster, Dandelion, Sugar
Cookie, Brownie, Woodsmoke, Leather, and Turpentine. When the company’s owner decided initially to
market the perfumes in a limited number of very specialty stores he was considering the Product P of the
4Ps
18. Marketing mix is the art and science of choosing target markets and getting, keeping, and growing
customers through creating, delivering, and communicating superior customer value
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Anna Zarkada
17/01/2016
Marketing Principles
19. Experiential marketing is a marketing strategy that directly engages consumers and invites and
encourages consumers to participate in the evolution of a brand
20. Milk tasting in supermarkets is aimed at generating performative legitimation whilst donating milk to
charities is aimed at achieving social legitimacy
21. In mass communication we have higher emotional and physical involvement of the target audience
with the message than in interpersonal communication
22. Marketing is a profit-making mechanism and exists only in a capitalist economy
23. For marketing exchanges to occur at least two economic entities must be voluntarily involved and
able to communicate
24. Internal marketing is creating, communicating and delivering value to customers through employee
satisfaction
25. The brand is defined as a means of identifying the product of one seller or group of sellers and
differentiating it from competing products
26. Information technology, globalization and consumer resistance are some of the forces that transform
the markets of the 21st century and make the new 4Ps (personalization, participation, peer-to-peer and
predictive modeling) at least as important as the 20th century ones (Product, price, promotion and place).
27. In the three V’s approach to marketing defining the value network involves setting up and managing
distribution channels and collaborative networks
28. The objective of segmentation is to achieve the maximum possible (given time, cost and other
resource constraints) within group differentiation and between group homogeneity
29. All products will eventually be removed from the market because of obsolescence which can be the
result of changes in consumer tastes and/or technological advances
30. Marketing 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
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