Unit quiz 12_Gokongwei

It is a type of utility that involves converting raw materials into products that suit the preferences of consumers so that they do not have to create their desired products themselves.

• time utility

• possession utility

• form utility

• place utility

It is an economic situation wherein there are more products and services than consumers who are willing to buy them, resulting in low prices.

• buyer’s market

• seller’s market

• target market

• new market

It is a goal of marketing that involves increasing brand and product retention in the minds of the consumers.

• building brand awareness

• increasing brand engagement

• establishing thought leadership

• supporting high sales lead volume

It is a traditional marketing approach that reached its peak in the early part of the 20th century and was exemplified by Ford’s production process

• marketing concept

• sales concept

• production concept

• societal marketing concept

It is a characteristic of a marketing organization that refers to the organization’s ability to keep customers informed about what they offer and be in constant contact with them.

• consumer content

• communication

• company capabilities

• competition

It is a contemporary marketing approach that upholds the ability if the company to consider consumer needs and wants, its stakeholders, and the long-term interests of the society producing goods and services.

• societal marketing concept

• relationship marketing

• marketing concept

• sales concept

It is a type of utility that ensures that consumers have full possession of the product or service at the right time.

• time utility

• possession utility

• form utility

• place utility

It is a traditional marketing approach that employs sales personnel to use art of persuasion in influencing consumers’ purchase decisions.

• sales concept

• relationship marketing concept

• production concept

• marketing concept

It is a goal of marketing that involves developing consumers’ emotional attachment to the brand.

• increasing brand engagement

• building brand awareness

• establishing thought leadership

• boosting sales

It is a characteristic of a marketing organization that refers to the organization’s responsibility to conduct business in an ethical manner,

• customer content

• community contact

• communication

• competition