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Learning by Coaching for Marketing Concept Mastery 2013

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Learn by Coaching Uses an Innovative Approach to Learning Marketing Concepts by Asking the Student to Think Like a Professor 2013 edition

Learn by Coaching Uses an Innovative Approach to Learning Marketing Concepts by Asking the Student to Think Like a Professor 2013 edition

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  • 1. LEARNING by COACHING Become a better student by thinking like a Vcoach marketing professorProf. Remigio Joseph A. De Ungria Jr., MBA Ateneo Graduate School of Business Feb. 2013 edition
  • 2. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid “What Not” Samples5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 3. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid “What Not” Samples5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 4. Why?Objective is enhanced learning!1. Leverage value of marketing concepts2. Review for concept test3. Enhance marketing mastery4. Score well in midterm/ finals5. Promote your blog (drive traffic to your blog)
  • 5. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid “What Not” Samples5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 6. How? Use class resources1. Leverage marketing concepts  Each student is assigned a chapter to specialize in  Using Kotler slide concepts in Dropbox shared folder2. Download template and follow instructions  http://www.slideshare.net/josephdeungria/hm- downloadable-template-for-10-multiple-type- questions3. Create 5 sets of questions, concepts, & answers using the Kotler slides as concept source.4. Send via email to vcoach.serves@gmail.com5. Upload the file to the shared dropbox folder.6. Embed in your blog.
  • 7. What?Create 5 to 10 questionsUse 4 types to make questions1. Fill in the Blanks2. Statements are true except3. Which statement is true4. Application or example based  Example must be local, relevant, recent, generally known
  • 8. 1. Marketing is meeting ___profitably. (use AGSB class definition not Kotler’s) Type 1:A. Needs Fill in the Blank questionB. WantsC. DemandsD. Needs, Wants or DemandsE. Stated and Unstated Needs
  • 9. 2. Services havecharacteristics except Type 2:A. Variability “Except” questionB. PerishabilityC. MeasurabilityD. IntangibilityE. Separability
  • 10. 3. Which of the following istrue?A. Direct marketing is a form of mass communicationB. Word of mouth is 1 of 7 modes of communicationC. Advertising is a direct communication methodD. Promotions is equally important for consumer and industrial goodsE. Public Relations is better if it results in a product sale. Type 3: “Which is true’ or “Which is false’ format
  • 11. 4. Doctors seeing patientsis an example of Type 4: Questions that areA. Pure product application or example based (local, recent, common, interestingB. Pure serviceC. Hybrid of product and serviceD. Intangible ProductE. Tangible Service
  • 12. What?Great questions teach!Create 5 questions:1. Using a concept slide used in Kotler powerpoint2. Relevant & interesting3. Have 5 answer choices that may all be “possible answers”4. When answered, provides a learning experience
  • 13. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid “What Not” Samples5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 14. The following slide is the original concept slide used in the Kotler hand-out.
  • 15. Original slide from KotlerCh.2 Developing Strategies and Plans
  • 16. Assignment to Hyper2 studentThe 4 slides that follow are the required outputfrom the students for 1 concept 1. Question with 5 choices 2. Concept (use the original Kotler slide) 3. Concept (modify the slide using 21 steps to effective presentation as guide) 4. Answer (still showing 5 choices)Minimum of 5 sets of questions per chapter foreach student
  • 17. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples  1 Set of Question, Concept & Answer
  • 18. 1. Growth using new products to newmarkets is called a/an __________strategya. Expansionb. Globalizationc. New Product and Market developmentd. Diversificatione. Integration
  • 19. Original slide from KotlerCh.2 Developing Strategies and Plans Hyper2 student- You can just do this! (Use original slide)
  • 20. How to Increase Sales? 4 Growth Strategies using Products & Markets Ansoff’s Product Market Expansion Grid Current Markets New Markets Current Products Market Penetration Market Development New Products Product Development DiversificationHyper2 student- You can really excel by applying the 21 secrets to effectivepresentation to the original Kotler concept slide. This is an example. However,depending on Vcoach instructions, doing an improved slide like this may be optional.
  • 21. 1. Growth using new products to newmarkets is called a/an __________strategya. Expansionb. Globalizationc. New Product and Market developmentd. Diversificatione. Integration
  • 22. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid Bad Questions5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 23. 1. Marketing is meeting ___profitably. (use AGSB class definition)A. ChoicesB. EverythingC. DemandsD. Competition Too Easy since some choicesE. Customers are obviously wrong
  • 24. 2. Services havecharacteristics exceptA. VariabilityB. PerishabilityC. DifferentiationD. Intangibility Too Easy since choice “C” is ofE. Separability a different form
  • 25. 4. The J’ D Vre in Timbuktuprovides aA. Pure productB. Pure serviceC. Hybrid of product and serviceD. Intangible Product Too Hard sinceE. Tangible Service J’ D Vre is not a common, local example
  • 26. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid Bad Questions5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 27. Learn by doing!What to do starting year 2013?1. Read the powerpoint of your assignedChapter at least 3 times (in Dropbox folder)2. Output 1: Save the powerpoint in theDropbox folder as a new file but retain only theslides which you think are most important torememberFormat for Filename of Output 1: B Ch xx, Ch name, Student nameSample for renamed Ch 2:B Ch2 Developing Marketing Strategies and Plans, Juan de la Cruz
  • 28. Learn by doing!What to do starting year 2013?Output 2:For 1 concept slide, student must submit 1. Question with 5 choices 2. Concept (use the original Kotler slide) 3. Concept (modify the slide using 21 steps to effective presentation as guide) 4. Answer (still showing 5 choices)Required: minimum of 5 sets of questions perchapter for each student
  • 29. Overview6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid Bad Questions5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 30. Note on the v52 examWhat’s different vs. 2013?1. The original Kotler slide was not shared with the students.2. The original Kotler slide was not included in Output 23. Students were instructed to use multiple slides to explain the concept
  • 31. LEARNING by COACHING Sample Midterm Exam for Marketing Management from Questions submitted by v50 studentsProf. Remigio Joseph A. De Ungria Jr., MBA Ateneo Graduate School of Business
  • 32. Vcoach note:Watch & learn… This midterm exam was actually used for Marketing class v52. Each student was required to submit 10 sets of questions, concepts, concept explanations & answers for his assigned chapter. Some questions in v52 might be used for future midterm exams
  • 33. Vcoach note:Don’t reinvent the wheel Sample midterm exam for v52 is consolidated from emailed submissions of 30 students Some students did not follow the formats. Result: integration was not seamless; formats did not match in final copy. Action for future classes: Strictly use the format of the downloadable template. Also follow the 7 x 7 principle discussed in the 21 steps to Powerful Presentations
  • 34. TOP 10 Learning Questions for Chapter 4: Conducting MarketingResearch and Forecasting Demand Melanie Dianne Chua September 23, 2010
  • 35. 2. Potential market, available market, target market, and penetrated market are measures of _________.A. Market demandB. Market supplyC. Market groupD. Market sizeE. None of the above
  • 36. The Measures of Market Demand Potential Available Market Market Target Penetrated Market Market
  • 37. Market Demand MARKET DEMAND is the total volume bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program
  • 38. Market Demand Potential Market- set of consumers who express an interest Available Market - potential plus income and access Target Market– market the firm decides to pursue Penetrated Market- consumers who are buying product
  • 39. 2. Potential market, available market, target market, and penetrated market are measures of _________.A. Market demandB. Market supplyC. Market groupD. Market sizeE. None of the above
  • 40. 8. Why should the following question not be included in a questionnaire? What is your income?A. It is not free of bias.B. It uses jargon.C. It is ambiguous.D. It is not simple.E. None of the above.
  • 41. TOP 10 Learning Questions for Chapter 5 Creating Customer Value, Satisfaction, and Loyalty Situmorang September 23, 20101 www.berlysitumorang.blogspot.com
  • 42. 1. The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the________.A. Perceived usefulnessB. Perceived CostC. Total Customer CostD. Total Perceived CostE. Perceived Customer Price www.berlysitumorang.blogspot.com
  • 43. Total Customer CostTotal customer cost The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market Monetary cost offering, including monetary, time, energy, and psychological costs. Time cost Energy costPsychological cost www.berlysitumorang.blogspot.com
  • 44. 1. The perceived bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs is called the________.A. Perceived usefulnessB. Failure avoidance rateC. Total Customer CostD. Customer perceived valueE. Competitors market share rate www.berlysitumorang.blogspot.com
  • 45. 2. Customer perceived value is the difference between the prospective customer’s evaluation of all the _______and all the ______ of an offering and the perceived alternativesA. Benefit & CostB. Price & CostC. Profit & BenefitD. Benefit & PriceE. Profit & Cost www.berlysitumorang.blogspot.com
  • 46. Determinants of Customer Perceived ValueTotal customer benefit Total customer cost Product benefit Monetary cost Services benefit Time cost Personal benefit Energy cost Image benefit Psychological cost www.berlysitumorang.blogspot.com
  • 47. 2. Customer perceived value is the difference between the prospective customer’s evaluation of all the _______and all the ______ of an offering and the perceived alternativesA. Benefit & CostB. Price & CostC. Profit & BenefitD. Benefit & PriceE. Profit & Cost www.berlysitumorang.blogspot.com 47
  • 48. TOP 10 LearningQuestions for Chapter 6: Analyzing Consumer Markets Zennia P. Davantes 09.09.2010
  • 49. While reading a newspaper, Wendy a frequent travellernoticed the Cebu Pacific zero-fare ad, but never noticed thefree trial session ad of Marie France. This is an example of: a. Selective Attention b. Selective Distortion c. Selective Retention d. Selective Awareness e. None of the above 49
  • 50. Perception Selective Attention  people exposed to a tremendous amount of stimuli tends to screen it out. Selective Distortion  tendency to twist information into personal meanings and interpret information in a way that will fit perceptions. Selective Retention  people will retain information that supports their attitudes and beliefs.
  • 51. Problem recognition is the 1st stage of the consumerbuying process. Below is the rest of the process except: a. Information search b. Alternative evaluation c. Purchase decision d. Purchase evaluation e. Post-purchase behavior 51
  • 52. Consumer Buying Process1. Problem recognition2. Information search3. Evaluation of alternatives4. Purchase decision5. Post-purchase behavior
  • 53. Problem recognition is the 1st stage of the consumerbuying process. Below is the rest of the process except: a. Information search b. Alternative evaluation c. Purchase decision d. Purchase evaluation e. Post purchase behavior (originally, this was not included as a choice; added this to make it 5 choices) 53
  • 54. TOP 10 Learning Questions for Chapter 6 Analyzing Consumer Markets Grace Sumera 24 September 2010
  • 55. 3. The following are major informationsources to which consumers turn toEXCEPTA. ExperientialB. CommercialC. PublicD. ExternalE. Personal
  • 56. Major Information Sources Personal Commercial Public Experiential
  • 57. Major Information Sources Personal • Family, friends, neighbors Sources • Most influential source of information Commercial • Advertising, Sales people Sources • Most prevalent source of information Public • Mass media Sources • Consumer rating groups Experiential • Handling, examining & using the Sources product or service
  • 58. 3. The following are major informationsources to which consumers turn toEXCEPTA. ExperientialB. CommercialC. PublicD. ExternalE. Personal
  • 59. 4. Buyer’s decisions are influenced bypersonal characteristics EXCEPTA. NationalityB. Age & Stage in the Life CycleC. Occupation & Economic CircumstancesD. PersonalityE. Lifestyle
  • 60. Personal Factors Age Life cycle Self- stage concept LifestyleOccupation Wealth Values Personality
  • 61. Nationality is a Cultural Factor! S U Nationalities B C U Religions L T Racial groups U R Geographic regions E S
  • 62. 4. Buyer’s decisions are influenced bypersonal characteristics EXCEPTA. NationalityB. Age & Stage in the Life CycleC. Occupation & Economic CircumstancesD. PersonalityE. Lifestyle
  • 63. 9. A Filipina who recently postponedher trip to HK was influenced by thistype of riskA. Psychological RiskB. Physical RiskC. Financial RiskD. Social RiskE. All of the above
  • 64. Perceived RisksA consumer’s decision to modify, postpone, Functionalor avoid a purchase is Time heavily influenced by perceived risks. Psychological Physical Social Financial
  • 65. Perceived RisksDue to the recent hostage incident, Filipinos may cancel their trip to HK because of perceived risks:1. Functional Risk – the product may not perform up to expectations2. Physical Risk – the product poses a threat to the physical well- being of the user/others3. Financial Risk – the product is not worth the price paid4. Social Risk – the product results in embarrassment from others5. Psychological Risk – the product affects the mental well-being of the user6. Time Risk – wasted time in finding a new product in case of product failure
  • 66. 9. A Filipina who recently postponedher trip to HK was influenced by thistype of riskA. Psychological RiskB. Physical RiskC. Financial RiskD. Social RiskE. All of the above
  • 67. TOP 10 Learning Questions for Chapter 8: Identifying Market Segments and Targets Allan Ray C. Enriquez September 24, 2010
  • 68. Question 3. Target markets are the following except:A. SegmentsB. GroupsC. NichesD. Local AreasE. Individuals
  • 69. ConceptThere are four levels ofMicromarketing Segments Niches Local areas Individuals
  • 70. Four levels of Micromarketing Segments NichesAs Kotler defined, there are four (4) levels of marketing. Local areas Individuals Explanation of Concept
  • 71. Answer 3. Target markets are the following except:A. SegmentsB. GroupsC. NichesD. Local AreasE. Individuals
  • 72. Question 9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .A. Differnetiated marketingB. Innovative marketingC. Niche marketingD. Mass marketingE. Blue ocean strategy
  • 73. Markets can be targeted at four(4) levels: segments, niches, localareas and individuals. Segments: large and identifiable groups Segments NichesNiche: more narrowly defined group with distinctive mix of benefits Local area: local customer groups Local areas Individuals (i.e. neighborhoods, individual stores) Individuals: particular customers with their customized needs and wants.Explanation of Concept
  • 74. Sensodyne has been known for itstoothpaste customized for sensitiveteeth until Colgate released itsproduct this year.* Colgate, being a toothpaste company, added its product, Sensitive Pro-Relief to well understand its customers’ needs. Source: http://www.123jump.com/market- update/Colgate-Palmolive-Q4-Earnings-Call- Transcript/36333/21Explanation of Concept
  • 75. Original answer 9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .A. Differnetiated marketingB. Innovative marketingC. Niche marketingD. Mass marketingE. Blue ocean strategy
  • 76. Same Answer to a Professor-Revised Question 9. Colgate’s strategy of including sensitive teeth consumers in their market is a way of .A. Local marketingB. HypermarketingC. MegamarketingD. Mass marketingE. Niche marketing
  • 77. TOP 10 Learning Questions for Chapter 10: Crafting the Brand Positioning Lesley Ardelle P. Espiritu September 3, 2010
  • 78. 1. Points-of-difference (PODs) are attributes orbenefits consumers strongly associate with abrand, positively evaluate, and believe could notfind to the same extent with a ______________brand.A. SimilarB. CompetitiveC. CollaborativeD. LeadingE. Winning
  • 79. Defining Associations Points-of-Difference Points-of-Parity (PODs) (POPs) Attributes or benefits •Associations that are not consumers strongly necessarily unique to the associate with a brand, brand but may be shared positively evaluate, and with other brands.believe they could not findto the same extent with a competitive brand.
  • 80. PODs are attributes that set-apart abrand from its rival brand Points-of-Difference Points-of-Parity (PODs) (POPs) Attributes or benefits •Associations that are not consumers strongly necessarily unique to the associate with a brand, brand but may be shared positively evaluate, and with other brands.believe they could not findto the same extent with a competitive brand.
  • 81. 1. Points-of-difference (PODs) are attributes orbenefits consumers strongly associate with abrand, positively evaluate, and believe could notfind to the same extent with a ______________brand.A. SimilarB. CompetitiveC. CollaborativeD. LeadingE. Winning
  • 82. TOP 10 Learning Questions for Chapter 16: Managing Retailing, Wholesaling and Logistics Mary Rose R. Mendoza September 23, 2010 Marketing Management Class Prof. Remigio Joseph De Ungria
  • 83. 1. The following are major typesof retailer except _____________.a) Discount storeb) Wholesale storec) Catalog showroomd) Virtual storee) Hypermarket
  • 84. Specialty Store Convenience StoreDepartment Store Discount Store Supermarket Off-price Retailer Superstore Catalog Showroom
  • 85.  A “wholesaler” sells to those buying for resale or business use;  Brokers and agents are wholesalers who mediatebetween buyer and seller of securities;
  • 86. 1. The following are major typesof retailer except _____________.a) Discount storeb) Department storec) Catalog showroomd) Supermarkete) Brokers and agents
  • 87. 8. Which of the following is true about private labels?a. These are unbranded, plainly packaged, less expensiveversions of common products.b. Private labels are usually sold at a higher price due to highercosts on advertising, sales promotion and distribution.c. Private labels require much investment on R&D to bring outnew brands, line extensions, and features.d. Are also called reseller, store, house or distributor branddeveloped by retailers and wholesalers.e. all of the above
  • 88. PRIVATE LABEL VS. NATIONAL BRANDS PRIVATE LABEL  Developed by retailers/wholesalers  Shelf space advantage  NATIONAL BRANDS  Lower price  Significant investments on R&D  Investments on “pull” advertising programs
  • 89. What’s on the LABEL? lower price due to lower costs of Own brands developed by Wal production, advertising, sales Mart & Tesco are known as promotion & private labels. distribution.  Huge market advantage over national brands considering shelf-space and price.
  • 90. 8. Which of the following is true about private labels?a. These are unbranded, plainly packaged, less expensiveversions of common products.b. Private labels are usually sold at a higher price due to highercosts on advertising, sales promotion and distribution.c. Private labels require much investment on R&D to bring outnew brands, line extensions, and features.d. These are also called reseller, store, house or distributorbrand developed by retailers or wholesalers.e. all of the above
  • 91. TOP 10 Learning Questions for Chapter 20: Introducing New Market Offerings Rosalia R. Reyes September 23, 2010 Marketing Management Class Prof. Remigio Joseph De Ungria leareyes.blogspot.com leareyes.blogspot.com leareyes.blogspot.com
  • 92. 1. The following are categories ofnew-product except _____________.a) New-to-the-worldb) New product linesc) Cost Reductiond) Repositioninge) None of the Above leareyes.blogspot.com
  • 93. New-to-the-world ImprovementsNew product lines Repositionings Additions Cost reductions 3 leareyes.blogspot.com
  • 94. 1. The following are categories ofnew-product except __________.a) New-to-the-worldb) New-product linec) Additionsd) Improvementse) Technology-drivenf) Repositioningsg) Cost reductions leareyes.blogspot.com
  • 95. TOP 10 Learning Questions for (Chapter #11 Dealing with Competition) Maritess Velez September 24, 2010 Marketing Management Class Prof. Remigio Joseph De Ungria http://maritessvelez.blogspot.com/
  • 96. 8. ____ is a percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product”a. Share of Marketb. Share of Mindc. Share of Heartd. Share of Preferencee. Share of Wallet http://maritessvelez.blogspot.com/
  • 97. Share of Market- The percentage of the total sales of a given type of product or service that are attributable to a given companyShare of Mind- The percentage of customers who named the competitors in responding statement “Name the first company that comes to mind in this industry”Share of Heart- The percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product” http://maritessvelez.blogspot.com/
  • 98. 8. ____ is a percentage of customers who named the competitor in responding to the statement “Name the company from which you would prefer to buy the product”a. Share of Marketb. Share of Mindc. Share of Heartd. All of the above http://maritessvelez.blogspot.com/
  • 99. 9. ____ duplicates the leader’s product and packages and sells it on the black market or through disreputable dealersa. Clonerb. Imitatorc. Adapterd. Counterfeitere. Duplicator http://maritessvelez.blogspot.com/
  • 100. Cloner- Emulates the leader’s products, name and packaging with slight variationsImitator- Copies some things from the leader but maintains differentiation in terms of packaging, advertising, pricing or locationAdapter- Takes the leader’s products and adapts or improves themCounterfeiter- Duplicates the leader’s product and packages and sells it on the black market or though disreputable dealers http://maritessvelez.blogspot.com/
  • 101. 9. ____ duplicates the leader’s product and packages and sells it on the black market or through disreputable dealersa. Clonerb. Imitatorc. Adapterd. Counterfeitere. Duplicator (was not part of original choices submitted by student; added by professor to increase difficulty) http://maritessvelez.blogspot.com/
  • 102. Samples of InferiorQuestions and Answers Avoid these errors!
  • 103. TOP 10 Learning Questions for Chapter 19: Managing Personal Communications September 24, 2010
  • 104. 1. Which is the use of consumer-direct(CD) channelsto reach and deliver goods and services to customerswithout using marketing middlemen. A. Interactive marketing B. Direct marketing C. Direct to consumer marketing D. All of above E. None of above
  • 105. Direct marketing is the use ofconsumer-direct(CD) channels to reachand deliver goods and services tocustomers without using marketingmiddlemen. Concept explanation Is the same As the question! This does not add value To the learning experience
  • 106. 1. Which is the use of consumer-direct(CD) channelsto reach and deliver goods and services to customerswithout using marketing middlemen. A. Interactive marketing B. Direct marketing C. Both of above D. None of above Original question submitted by student had only 4 choices. Easy to guess the correct Answer if this was used.
  • 107. TOP 10 LearningQuestions for Defining Marketing for the 21’st Century September 3,2010
  • 108. 1. Marketing is a set of process for creating,communicating and delivering ____ tocustomers.A. GoodsB. ServicesC. ValueD. Goods and ServicesE. Information
  • 109. Answer : No concept and no concept explanation. Went straight to the Answer. (B) Value
  • 110. 8. Why should the following question not be included in a questionnaire? What is your income?A. It is not free of bias.B. It uses jargon.C. It is ambiguous.D. It is not simple.E. None of the above.
  • 111. Questionnaire Do’s and Don’ts Ensure questions are  Avoid negatives free of bias  Avoid hypotheticals Make questions simple  Avoid words that could be Make questions specific misheard Use response bands Avoid jargon   Use mutually exclusive Avoid sophisticated categories words  Allow for “other” in fixed Avoid ambiguous words response questions
  • 112. Questionnaires It does not specify if the income is annual, weekly, daily, etc.
  • 113. 8. Why should the following question not be included in a questionnaire? What is your income?A. It is not free of bias.B. It uses jargon.C. It is ambiguous.D. It is not simple. Not a good question s Since Choice (a) canE. None of the above. Also be a correct answer here.
  • 114. CHAPTER 14: DEVELOPING PRICING STRATEGIES AND PROGRAMS 10 Questions from Chapter 14Ateneo Graduate School of Business
  • 115. 4. A behavior wherein aconsumer prefers to buy anArmani shirt at $275 over a GAPshirt which costs $14.90 is anexample of: oReference Price oPrice-quality inferences oPrice Cues Did not: 1. Use Downloadable oPrice endings template 2. Put letters on the choices
  • 116. Consumer pricing psychology  how consumers arrive at their perceptions of price, the marketers must think of:a. Reference price: consumers get pricing information from internal reference price (used as habitual decision making) or external reference price (used as limited decision making and extended decision making)b. Price-quality inferences: many consumers use price as an indicator of quality. Image pricing is effective with ego- sensitive products. E.g perfumes, designer clothesc. Price cues: consumers tend to process prices in a “left to right” manner rather than by rounding e.g. stereo amplifier priced at 299 instead $300 as a price in the $200 range rather than $300 range Did not: 1. Use Downloadabled. Price endings: Prices that end with 0 and 5 are easier for template consumers to remember 2. Follow 7 x 7 principle • Could have used more than 1 slide
  • 117. 4. A behavior wherein aconsumer prefers to buy anArmani shirt at $275 over a GAPshirt which costs $14.90 is anexample of: oReference Price oPrice-quality inferences oPrice Cues Did not: 1. Use Downloadable oPrice endings template 2. Put letters on the choices
  • 118. While reading a newspaper, Wendy a frequent travellernoticed the Cebu Pacific zero-fare ad, but never noticed thefree trial session ad of Marie France. This is an example of:a. Selective Attentionb. Selective Distortionc. Selective Retentiond. Selective Opinion (original choice was changed to “Selective Awareness” to make choices harder)e. None of the above (added to make it 5 choices) 118
  • 119. What is the highest need that a mobile phonesatisfies in the Filipino consumer a. Psychological b. Safety c. Social d. Self-Esteem e. Physiological 119
  • 120. Kotler Concept: Maslow’s Hierarchy of NeedsThis is Kotler’s exactSlide from the book.May face copyrightOr “plaigiarism” issues.Create your ownDiagram whileFollowingPower presentationPrinciples.
  • 121. Mobile phone is a relevant product to Filipinoconsumer because it satisfies their _____ needs. a. Psychological b. Safety c. Social d. Esteem 121
  • 122. Summary6 Steps to Learning Excellence1. Appreciate Why2. Learn How3. See “What” Samples4. Avoid “What Not” Samples5. Learn by Doing6. A Sample Midterm Exam (v52)
  • 123. LEARNING byCOACHING Become a better student by thinking like a Vcoach marketing professorProf. Remigio Joseph A. De Ungria Jr., MBA Ateneo Graduate School of Business Feb. 2013 edition