Marketing Principles Homework Assignment - [University Name]

This document contains the solutions to a marketing principles assignment. The assignment covers a range of core marketing concepts including the marketing concept, the nature of marketing, and the importance of planning. It addresses key questions related to customer identification, targeting strategies, and the roles of customer and consumer. The solutions also delve into topics like the DMU, sales promotions, and the lifetime value of a customer. Other topics covered include buzz marketing, direct marketing, consumer behavior, market segmentation, and pricing strategies, providing a comprehensive overview of essential marketing principles. The document provides answers to multiple-choice questions on various aspects of marketing, including the marketing mix, consumer decision-making processes, and the role of positioning statements.

Principle of marketing

TABLE OF CONTENT
MAIN BODY...................................................................................................................................3
SECTION 1......................................................................................................................................3
Q1. The marketing concept:.........................................................................................................3
Q2. why is marketing like an iceberg?.........................................................................................3
Q3. In one to one marketing, what is the next step after a marketer has identified customers:?.3
Q4. Targeting can take one of four approaches?.........................................................................3
Q5. A......buys the product, and a...... uses the product?..............................................................3
Q6. The DMU consist of:.............................................................................................................3
Q7. The BOGOF is a type of?.....................................................................................................3
Q8. The....... is term used to describe the potential profit generated by a single customer:........3
Q9. A loss leader is:.....................................................................................................................3
Q10. Buzz marketing is best for:.................................................................................................3
Q11. In direct marketing, a test message is:................................................................................3
Q12. The difference between the prospective customer's evaluation:.........................................3
Q13. Four approaches to segmenting the market were given:.....................................................3
Q14. The...... is the potential profit generated by an single customer purchase of business over
time:.............................................................................................................................................3
Q15. Not an element of Engel, Kollat and Blackwell;s consumer buying?................................4
Q16. Charles Revson of Revlon observed:..................................................................................4
Q17. Holding a press is conference is an example of:.................................................................4
Q18. When using......a consumer exerts little efforts in making a purchase decision:................4
Q19. Charging 9.99 for an item is an example of:.......................................................................4
Q20. A positioning statement is:..................................................................................................4
Q21. Holding a press conference is example of:.........................................................................4

MAIN BODY
SECTION 1
Q1. The marketing concept:
Ans. C
Q2. why is marketing like an iceberg?
Ans. Most marketing activity is about planning and management so not visible.
Q3. In one to one marketing, what is the next step after a marketer has identified customers:?
Ans. Analyse these customers in terms of both their needs and their value to the company.
Q4. Targeting can take one of four approaches?
Ans. Differentiated
Q5. A......buys the product, and a...... uses the product?
Ans. Customer and consumer
Q6. The DMU consist of:
Ans. Influencer, dependent, decider, engager, buyer
Q7. The BOGOF is a type of?
Ans. Sales promotion
Q8. The....... is term used to describe the potential profit generated by a single customer:
Ans. Lifetime value of a customer
Q9. A loss leader is:
Ans. C
Q10. Buzz marketing is best for:
Ans. B
Q11. In direct marketing, a test message is:
Ans. B
Q12. The difference between the prospective customer's evaluation:
Ans. D
Q13. Four approaches to segmenting the market were given:
Ans. B
Q14. The...... is the potential profit generated by an single customer purchase of business over
time:
Ans. Lifetime value

Q15. Not an element of Engel, Kollat and Blackwell;s consumer buying?
Ans. Product specification
Q16. Charles Revson of Revlon observed:
Ans. We sell hope
Q17. Holding a press is conference is an example of:
Ans. Direct marketing
Q18. When using......a consumer exerts little efforts in making a purchase decision:
Ans. Habitual decision making
Q19. Charging 9.99 for an item is an example of:
Ans. Psychological pricing
Q20. A positioning statement is:
Ans. A statement that explain to customers the basis for competition
Q21. Holding a press conference is example of:
Ans. Direct marketing