PAZARLAMA YÖNETİMİ - Deneme Sınavı - 3

A marketing system is mainly defined as an environment where main players, such as suppliers, companies, competitors, marketing intermediaries, and consumers come together, so the correct answer is E.

Companies work with their suppliers in order to supply the needed parts, raw materials, services needed in their production processes. Suppliers can have a significant influence on a manufacturer’s performance, through their contributions to cost reduction, new product design and enabling the constant improvement of quality. In today’s increasingly competitive environment, it is no longer enough to understand customers in the marketing system of the companies. Firms must pay close attention to their competitors and need to constantly compare their products, prices, channels, and promotional efforts with their competitors. The main role of marketing intermediaries is to make goods available and accessible to target markets by offering more effectiveness and efficiency than the selling company could achieve on its own. This is realized through their contacts, experience, specialization, and scale of operation.All the parties in the marketing system are affected by major environmental forces such as economic, political/ legal, demographic, physical, technological, and social/cultural forces.

Differences in customers’ buying habits, differences in their responses to the marketing mix of the companies direct companies to segment their markets according to the criteria specific for consumer and business markets. Hence, market segmentation is a process of dividing the market into smaller groups that the members of each group are similar to each other as well as their reactions to the marketing mix of the company, so the correct answer is A. The information about the other answer choices as follows: Following the segmentation process, companies need to select one or more market segments to serve as their target markets. Otherwise, it would be ineffective for companies to try reaching every market. For each target market, the company develops a market offering through positioning the product or service in the minds of the customers.

Market offering is defined as a mixture of products, services, information, ideas or experiences offered to a market in order to satisfy a need or want. Market offerings can be both products and services. From a broader perspective, persons, places, information, ideas and experiences can also be considered as market offerings.

Brand is defined as “a name, term, sign, symbol or design, or a combination of these”. Brand is perceived as an important component of a product or a service since it reflects the characteristics of the company and the product.

Supply chain management is mainly the broader concept including the series of companies including suppliers, customers, and logistics service providers that work together to deliver a value package of goods and services to the endcustomer. Supply chain management is an important concept in today’s business systems due to its increasing importance in connecting and managing the related parties within the overall supply chain of a company. Supply chain management is defined as “the management of a network of relationships within a firm and between interdependent organizations and business units consisting of material suppliers, purchasing, production facilities, logistics, marketing, and related systems that facilitate the forward and reverse flow of materials, services, finances and information from the original producer to final customer with the benefits of adding value, maximizing profitability through efficiencies, and achieving customer satisfaction” As can be understood from the information given, the correct answer is A. The information about the other answer choices are as follows:

Exchange is the habit of achieving a desired object from someone by offering something in return.

A marketing network includes the company and its supporting stakeholders (i.e. customers, employees, suppliers, distributors, university scientists, and others) with whom it has built mutually profitable business relationships.

Marketing channels are classified into three groups as; communication channels, distribution channels and service channels

Distribution channels primarily focus on the movement of goods and services from the business to the consumers. Products and services need to be transported to the consumption points, namely to the customers. In the early stages of trade, the local markets where sellers and buyers come together and interact face-toface were existent. Such local markets are still available in various countries. However, together with the globalization, developments in logistics and supply chain systems and increasing levels of sophistication in products and services, need for intermediaries ensuring the products and the services reach the consumer at the right time, place and price that has emerged.

Rigby defined omni-channel retailing as: “an integrated sales experience that melds the advantages of physical stores with the information-rich experience of online shopping”, so the correct answer is A. The information about the orther answer choices are as follows:

The term bricks and mortar refers to the physical retail stores. Brick and click retailers are the retailers that operate both online store (the clicks) and offline the physical retail stores.

Distribution channels primarily focus on the movement of goods and services from the business to the consumers.

A marketing network includes the company and its supporting stakeholders (i.e. customers, employees, suppliers, distributors, university scientists, and others) with whom it has built mutually profitable business relationships.

Market segmentation is a process of dividing the market into smaller groups that the members of each group are similar to each other as well as their reactions to the marketing mix of the company. Therefore, the correct answer is B.

Company should choose its orientation towards marketplace with five main categories; the production concept, the product concept, the selling concept, the marketing concept and the holistic marketing concept. Answer A 'the buying concept' is not true, it should be given as 'the selling concept', therefore it is the correct answer.

In the production concept the basic principle is to increase the production level and decrease the cost of production to offer consumers a chance to purchase a product much cheaper. Therefore, the correct answer is D.

In holistic marketing approach, all the marketing efforts should be considered as a ‘single entity’. Relationship marketing considers customers, partners, employees, and financial community. Therefore, the correct answer is A.

Economic stability is not one of the factors that could affect price decisions. Therefore the correct answer is A.

Taxes are collected and changes are also regulated by the governments. Therefore the correct answer is E.

A conspiracy in which two or more competitors setting prices together is called price fixing. Therefore, the correct answer is C.

All the options above, except B, are wrong since, cost is the lower limit of price. There are different kinds of costs including fixed costs, variable costs, and total costs. Fixed costs refer to costs which are independent from the level of production. Variable costs are the ones that vary based on production level. Total costs include both fixed costs and variable costs for a given production level. Average total cost is calculated  by adding fixed cost divided by unit sales to the variable cost. Therefore, the correct answer is B.

To survive/maintain status quo a company should adapt prices to permit the organization to “hold on” in periods of business downturns or until a buyer can be found. Therefore, the correct answer is E.

Good-value pricing combines higher quality with a lower price. This is not one of the cost-based pricing approaches. Therefore, the correct answer is D.

  

In loss-leader pricing, many companies intentionally set a price level below customary price. Therefore, the correct answer is C.

The six steps in order in the price setting process are: Identifying pricing constraints and objectives, estimating demand and revenue, estimating cost, volume, and profit relationships, selecting an approximate price level, setting list or quoted price and making special adjustments to list or quoted price. Therefore, the correct answer is B.

Market-penetration pricing sets low prices to penetrate the market as much as possible. Therefore, the correct answer is D.

In product bundle pricing, less demanded products are sold together with highly demanded ones at a discounted price. The aim of the strategy is to promote less demanded products. Therefore, the correct answer is B.

The economic impacts of marketing and logistics can affect individual consumers. These impacts can be explained through the concept of economic utility, which is the value or usefulness of a product in meeting customer needs and wants. In making goods and services available to customers, marketing and logistics channel members add value by creating the place, time, possession, and information utilities. The correct answer A.

Possession utility is the value consumers put on buying a product and having the freedom to use the product. Having a variety of easy payment methods is part of facilitating possession as is the physical location of the product and how it is delivered to the customer. The correct answer is D.