1. The document contains a set of learning questions and answers about defining marketing for the 21st century. 2. It discusses key marketing concepts like the 4 P's, how value is created for customers, and the roles of brands. It also examines how the marketplace has transformed due to forces like globalization, deregulation and new consumer behaviors. 3. The learning questions cover topics like what marketing involves, how companies develop value propositions, and examples of privatization and what different companies offer to customers.

1. TOP 10 Learning Questions for
Chapter 1
Defining Marketing for the
21’st Century
Cecil Alona
September 24, 2010

2. 1. Marketing is a set of process
for creating, communicating and
delivering ____ to customers.
A. Goods
B. Services
C. Value
D. Ideas
E. Information
1

3. Core Marketing Concept
2

4. Value and Satisfaction
The offerings will be successful if it delivers
value and satisfaction to the target buyer.
Value reflects the perceived tangible and
intangible benefits and costs to customers.
3

5. 1. Marketing is a set of process
for creating, communicating and
delivering ____ to customers.
A. Goods
B. Services
C. Value
D. Ideas
E. Information
4

6. 2.Marketing Management
Tasks may include
________________.
A. The creation of strong brands
B. The creation of medium growth
C. The prompt delivery of demands
D. The valuation of
customer satisfaction
E. The creation of value
5

7. Marketing Management Task
6

8. Marketing Management
The tasks are necessary for a successful marketing
management. It includes developing
marketing strategies & plans, capturing
marketing insights, connecting with
customers, building strong brands,
shaping market offering, delivering &
communicating value, and creating
long-term growth.
7

9. 2.Marketing Management
Tasks may include
________________.
A. The creation of strong brands
B. The creation of medium growth
C. The prompt delivery of demands
D. The valuation of customer
satisfaction
E. The creation of value
8

10. 3. The following are
manifestations of consumer
empowerment, except
A. Increase in their buying power
B. Greater ease in planning &
receiving their orders
C. Information selectivity
D. An amplified voice to influence public
opinion
E. To compare notes on products and
services
9

11. New Consumer Capabilities
Rapid growth in the industry led to evolution
of New Consumer Capabilities, customers
and consumers perceive fewer real product
differences, less brand loyalty and become
more sensitive to the price and quality in
their search for value. They are much
concerned about their buying power,
goods & services, information, receiving
& placing orders, peer & public opinions.
10

12. New Consumer Capabilities
A substantial increase
in buying power
Greater ease in interacting,
placing and receiving orders
A greater variety of available
goods and services
An ability to compare notes
on products and services
A great amount of
information about practically
anything
An amplified voice to
influence peer and public
opinions
11

13. 3. The following are
manifestations of consumer
empowerment, except
A. Increase in their buying power
B. Greater ease in planning &
receiving their orders
C. Information selectivity
D. An amplified voice to influence
public opinion
E. To compare notes on products and
services
12

14. 4. The marketplace had been
transformed by the following;
except
A. Competition
B. Deregulation
C. Globalization
D. Privatization
E. Satisfaction
13

15. Marketplace
Marketplace isn’t what it used to be. There are
certain developments that resulted to a major,
sometimes interlinking societal forces that
have created new behaviors, opportunities
and challenges like information technology,
globalization, deregulation, privatization,
competition, convergence, consumer
resistance and retail information.
14

16. Major Societal Forces
15

17. 4. The marketplace had been
transformed by the following;
except
A. Competition
B. Valuation
C. Globalization
D. Privatization
E. Satisfaction
16

18. 5. Which of the following is
true?
A. Value in not a central marketing concept.
B. Value proposition is a set of benefits offered to
customer to satisfy wants.
C. Value reflects the differences between the
perceived tangible from the intangible
benefits and costs to customers.
D. A brand is an offering from a known source
E. Supply chain is a smaller channel stretching
from raw materials to components to final
product that are carried to final buyers.
17

19. Core Marketing Concepts
18

20. Offering + Brand = Value
Proposition
To be able to satisfy the needs, companies are
putting forth value proposition.
The intangible value proposition is
made physical like an offering,
on the other hand brand is something
offered that came from a known
source that can carry many
associations in people’s minds.
18

21. 5. Which of the following is
true?
A. Value in not a central marketing concept.
B. Value proposition is a set of benefits offered
to customer to satisfy wants.
C. Value reflects the differences between the
perceived tangible from the intangible
benefits and costs to customers.
D. A brand is an offering from a known source.
E. Supply chain is a smaller channel stretching
from raw materials to components to final
product that are carried to final buyers.
19

22. 6. Which of the following is
false?
A. Needs are basic human
requirement.
B. Demands are needs for specific
products backed by an ability to
pay.
C. Needs become wants when they
are directed to specific objects.
D. Wants doesn’t necessarily satisfy
the need
E. Marketers do not create needs.
20

23. Core Marketing Concept
21

24. Needs, wants & demands
Demands are needs for specific products backed
by an ability to pay.
Needs are basic human requirements like food,
water, clothing and shelter.
Wants are directed to specific object that might
satisfy the need
22

25. 6. Which of the following is
false?
A. Needs are basic human
requirement.
B. Demands are needs for specific
products backed by an ability to
pay.
C. Needs become wants when they
are directed to specific objects.
D. Wants doesn’t necessarily satisfy
the need
E. Marketers do not create needs.
23

26. 7. What is marketed by
Thomson Reuters?
A.Ideas
B.Goods
C. Services
D. Information
E. All of the above
24

27. What is marketed?
Goods- Physical goods constitute the bulk of most
countries’ production and marketing effort
Services- Activity that focuses on the production
of services
Events- this is what marketers promote(time-
based events)
Experiences- with the use of goods & services,
firms create & stage market experience
25

28. What is marketed?
Person- Celebrity marketing is a major business
Place- Includes economic development specialist,
real estate agent, commercial banks, local
business association, advertising, public relation
agencies
Properties- Intagible rights of ownership of either
real estate or financial property.
Organization- They actively work to build strong,
favorable and unique image in the minds of their
target public
26

29. What is marketed?
Information- This is what books, schools,
univrsities prduce, market & distribute at a price
to parents, students & communities
Ideas- This is what all markets around offer, “basic
idea”
27

30. 7. What is marketed by
Thomson Reuters?
A.Ideas
B. Goods
C. Services
D. Information
E. All of the above
28

31. 8. Republic Act No.8479 is a
good example of?
A. Deregulation
B. Privatization
C. Globalization
D. Convergence
E. Consumer Resistance
29

32. Major Societal Forces
30

33. Major Societal Forces
Deregulation- Many countries have deregulated
industries to create greater competition and
growth opportunities.
31

34. 8. Republic Act No.8479 is a
good example of?
A. Deregulation
B. Privatization
C. Globalization
D. Convergence
E. Consumer Resistance
32

35. 9. Which of the following
offers products & services?
A. 3M Philippines
B. Sun Life Financial
Philippines
C. Metrobank
D. Bloomberg
E. All of the above
33

36. What is Marketed?
34

37. What is marketed?
Goods- Physical goods constitute the bulk of
most countries’ production and marketing
effort
Services- Activity that focuses on the
production of services
35

38. 9. Which of the following
offers products & services?
A. 3M Philippines
B. Sun Life Financial Philippines
C. Metrobank
D. Bloomberg
E. All of the above
36

39. 10. PNB, Meralco, and PAL is
a good examples of
A. Privatization
B. Network Information Technology
C. Globalization
D. Consumer resistance
E. Retail Transformation
37

40. Major Societal Forces
38

41. Major Societal Forces
Privatization- Public companies are now
converted to private ownership and
management to increase their efficiency.
39

42. 10. PNB, Meralco, and PAL is
a good examples of
A. Privatization
B. Network Information
Technology
C. Globalization
D. Consumer resistance
E. Retail Transformation
40

43. TOP 10 Learning Questions for
Chapter 1
Defining Marketing for the
21’st Century
Cecil Alona
September 24, 2010