Marketing Basics Quiz

The cognitive abilities course outcomes for Basics of Marketing CO-01 are to remember and define the various concepts, terms in marketing and the various company orientations towards the market place.

The cognitive abilities course outcome CO-03 for Basics of Marketing is to apply principles of segmentation, targeting and positioning to real world marketing offering (commodities, goods, services, e-products/e-services).

According to CO-02, you would classify the various components of the marketing environment of a firm and explain the same in detail.

<p>According to CO-04, you would breakdown the consumer buying behavior journey into various components and distinguish between various buying roles for a real world marketing offering (commodities, goods, services, e-products/e-services).</p> Signup and view all the answers

<p>The number of hours for Basics of Marketing course is 40.</p> Signup and view all the answers

<p>Zero Moment of Truth (ZMOT) = The moment when consumers actively seek information online before making a purchase decision First Moment of Truth = When the consumer becomes aware of a product or service Second Moment of Truth = Involves using the product or service Empowered Consumers = Recognizes that the internet has empowered consumers with easy access to vast amounts of information</p> Signup and view all the answers

<p>Information Gathering = Proactively researching products or services online Consulting Social Media = Gathering information about options from social platforms Watching Videos = Using videos as a source of information about products or services Reading Reviews = Gathering information about products or services from other consumers' experiences</p> Signup and view all the answers

<p>Search Engines = Used by consumers to find information about products or services Websites = Visited by consumers to gather information about options Reviews = Provide insights into other consumers' experiences with products or services Social Media = Consulted by consumers to gather information about their options</p> Signup and view all the answers

<p>Traditional Consumer Buying Process = Involves the First Moment of Truth and the Second Moment of Truth Zero Moment of Truth (ZMOT) = Occurs after the consumer becomes aware of a product or service First Moment of Truth = When the consumer actively seeks information online before making a purchase decision Second Moment of Truth = Involves using the product or service</p> Signup and view all the answers

<p>Reliance on Information Provided by Businesses and Advertising = Consumers are no longer solely reliant on this for information Empowerment by the Internet = Consumers now have easy access to vast amounts of information Proactive Research Online = Consumers actively seek information online before making a purchase decision Consulting Social Media and Reviews = Consumers gather information about products or services from other consumers' experiences and social platforms</p> Signup and view all the answers

<p>The various company orientations towards the market place in the context of marketing include production orientation, product orientation, selling orientation, marketing orientation, and societal marketing orientation.</p> Signup and view all the answers

<p>The components of the marketing environment of a firm include the internal environment (employees, management, culture), the microenvironment (suppliers, customers, intermediaries, competitors), and the macroenvironment (demographic, economic, natural, technological, political, and cultural factors).</p> Signup and view all the answers

<p>Segmentation involves dividing the market into smaller segments based on characteristics, targeting involves selecting the most attractive segments to serve, and positioning involves creating a distinct image and identity for the product or brand in the minds of the target market.</p> Signup and view all the answers

<p>The consumer buying behavior journey includes need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. The various buying roles for a real-world marketing offering include initiator, influencer, decider, buyer, and user.</p> Signup and view all the answers

<p>The marketing mix consists of the 4Ps: Product, Price, Place, and Promotion. It involves developing the right product, setting the right price, making it available in the right place, and promoting it effectively to the target market.</p> Signup and view all the answers

<p>The various company orientations towards the marketplace include production orientation, product orientation, selling orientation, marketing orientation, and societal marketing orientation.</p> Signup and view all the answers

<p>The marketing environment components of a firm include the internal environment (company, suppliers, marketing intermediaries, customers, competitors, and public) and the external environment (economic, technological, political, cultural, and natural forces).</p> Signup and view all the answers

<p>Segmentation involves dividing the market into distinct groups, targeting involves selecting the most attractive segments to enter, and positioning involves creating a unique image and appeal in the mind of the target market.</p> Signup and view all the answers

<p>The consumer buying behavior journey includes need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. The various buying roles include initiator, influencer, decider, buyer, and user.</p> Signup and view all the answers

<p>The marketing mix consists of the 4Ps: product, price, place, and promotion. It involves developing a product that meets the needs of the target market, determining an appropriate price, selecting distribution channels, and creating promotional strategies to reach the target audience.</p> Signup and view all the answers