TOPIC/CHAPTER 1: REVIEW EXERCISES

Name: ______________________________ Date: __________________

A. TRUE or FALSE : Write True if the statement is correct, if False, supply with the correct
answer.

__________1. Satisfaction is the person's feeling of pleasure or disappointment which resulted

from comparing a product's perceived performance or outcome against his/ her expectations.
__________2. Sales promotion refers to short-term and temporary incentives to purchase or
induce trials of new goods.
__________3. In marketing terms: Sellers are called as “industry” while buyers are called
“Market”.
__________4. Three stage channel of distribution is the most commonly used channel of
distribution for the sale of consumer goods. In this case, there are two middlemen used, namely,
wholesaler and retailer.
__________5. “Marketing today is finally customer-focused.”
__________6. Marketers can influence wants and this is done in combination with societal
influencers but cannot create needs because needs pre-exists.
__________7. Marketing concept is associated with convincing consumer's mind towards goods
and services.
__________8. Publicity is a non-paid process of generating wide range of communication to
contribute a favorable attitude towards the product and the organization.
__________9. Marketer may be seller or buyer but most of time, marketer is seller.
__________10. Demand also affects the price in a big way. When there is limited supply of a
product and the demand is high, people buy even if high prices are charged by the producer.
__________11. The Product Concept is one of the oldest concepts in business. The concept
holds the belief that consumers desire, favors and prefer products at low prices which are
affordable and available.
__________12. Convenience goods are goods which are purchased less frequently and are
used very slowly like clothes, shoes, household appliances.
__________13. Marketer may be seller or buyer but most of time, marketer is buyer.
__________14. People, Processes, and Physical Evidence are considered as the extension of
7P’s.
__________15. According to Philip Kotler, marketing is “the science and art of exploring,
creating, and delivering value to satisfy the needs of a target market at a profit. Marketing
identifies unfulfilled needs and desires. It defines measures and quantifies the size of the
identified market and the profit potential. It pinpoints which segments the company is capable of
serving best and it designs and promotes the appropriate products and services.”
 LEARNING ACTIVITY

Visit a supermarket near your place but observe all the protocols under the new normal. Choose
one consumer product you like. What can you say on Hitesh Bhasin, Concepts of Marketing,
2017? Retrieved from https://www.marketing91.com›. Marketing management articles how the
store utilizes the core concepts of marketing in selling the product? Briefly discuss the
importance of marketing management orientations.

I recently went to SM Hypermarket which was two days ago and my initial purpose upon
visiting the market is to buy oats. As I occasionally stroll in the hair section hallway, I noticed that
the product L’oreal hair color was on sale for about 75% off. I am actually saving money to go to
a hairdresser salon to get my hair colored professionally but to think that L’oreal is on sale that
day, I did put it in my cart with no hesitation. Like what Hitesh Bhasin explained about the selling
concept, “organizations will not buy enough of the organization’s products unless they are
persuaded to do so through selling effort”. In addition, he also mentioned that this kind of selling
concept is applicable for businesses whose goal is to sell what they produce rather than what
the customer really wants. In my case, the SM Hypermarket persuaded me to buy something
that was not initially planned by using promotional pricing technique. Buying a hair coloring
product was not on my priority list that day but I surely wanted to have my hair colored so
seeing it on sale made me buy it. Importance of marketing management orientation are the
customer service and product support that are frequently improved as a result of market
orientation in order to address consumer complaints. This contributes to the company's overall
consumer satisfaction, as well as brand loyalty and favorable word-of-mouth advertising.