Marketing

1. Write on the blank the correct answer given inside the box. CONSUMER MARKETS TEST MARKETING LOCATION STUDIES DATA ANALYSIS OBSERVATION RESEARCH PRICING TESTS ADVETISING PRE-AND POSTING TARGET MARKET STUDIES CONCEPT, PRODUCT DEVELOPMENT AND PRODUCT STUDIES EXTERNAL FACTOR FOR RESEARCH USAGE, ATTITUDE AND IMAGE STUDIES 1. It can be used to decide on the packaging, to determine the market reaction, and to justify brand positioning. 2. It can be utilized by marketers to calculate a product's or service's optimal price, and to determine price elasticity. 3. These studies can provide cost effective ways on how to increase products/service's awareness level and brand trial. 4. The information from these researchers helps marketers identify macro-environmental shifts. 5. It includes individuals and/or households that purchase product or service for personal consumption. 6. It reveals the effectiveness of point of purchase collateral materials. 7. It determines ideal retail store location and is valuable tool in site. 8. These helps, identify, quantify and understand the target market better. 9. These tests can determine advertising copy effectiveness, advertising re-call, sales promotion response rates. 10. Based on these results, the company shall gauge the acceptability of a proposed product/service. II. TRUE OR FALSE. Write the word "WESTEROS" if the statement is true and "CASTLE BLACK" if it is incorrect. Person is one of the Ps of marketing mix. 2. Branding serves as the image of the company. 3. Change in company desire is one of the factors influencing change in product mix. 4. A product bought for use in the production of other or in an organizational operation is an industrial product. 5. Avon's product-mix consists of four major product lines. 6. Outlets, channel of distributions and coverage is scope of Place. 7. A product is more than just a product. 8. One components of product is symbolic. 9. Convenience products are products which can be purchased immediately. 10. Second phase of production cycle is maturity.V. Discuss the following questions briefly and concisely. 1. How should companies defend their market standing against lower priced competition? 2. How do you know a brand needs to be refreshed and how can it be refreshed? 3. Does impulse buying considered a negative customer behavior? Give some instances and explain. 4. What's the difference between product and service? "It's not about how much we lost. It's about how much we have left"-To