PAZARLAMA YÖNETİMİ - Deneme Sınavı - 4

An augmented product is the inclusion of additional features, benefits, attributes or related services that serve to differentiate the product from its competitors. For example, the hotel can provide a free map of the town in every room, remote-control satellite TV and prompt check- in and checkout.

A core product is the fundamental need or want that consumers satisfy by consuming the product or service. In another words, a core product is what customer is really buying. For example, the core product of a restaurant is food. The core product of a hotel is rest and sleep. The core product of a book is information.

Product Family

Product Class

Product Line

Product Type

Item or Product Variant

Impulse products are purchased without any planning or search effort, like candy bars, chewing gum, and chocolate.

Limitations to consumers: 

The product price tends to go up.

Manufacturers, taking advantage of the popularity of their brand names, may reduce the quality

gradually.

Branding may create confusion. In some cases, consumers are not able to decide which brand is

the best in quality because all the brands in the market claim to be the best ever in quality.

Line extensions involve introduction of additional items in a given product category under the same brand name, such as new flavours, forms, colours, ingredients, package sizes, etc. Majority of new product launches by companies are line extensions (e.g, Coca Cola, Coca Cola Zero, Coca Cola Diet).

Brand equity as ‘a set of brand assets and liabilities linked to the brand, its name and symbol, that add to or subtract from the value provided by a product or service to a firm or to the firm’s customers’. In a way, brand equity is the positive differential effect that knowing the brand name has on consumer response to the product or service.

(1)  Awareness stage: The consumer becomes aware of the innovation but lacks information about it.

(2)  Interest stage: The consumer is stimulated to seek information about the innovation.

(3)  Evaluation stage: The consumer considers whether to try the innovation.

(4)  Trial stage: The consumer tries the innovation to improve his or her estimate of its value.

(5)  Adoption stage: The consumer decides to make full and regular use of the innovation.

Consumer markets are where people buy their needs such as vegetables, fruit, flowers, meat, fish and groceries etc. Therefore, the correct answer is A.

Toyota Motor Company purchases parts to use for its final product from other parties in the business markets. Therefore, the correct answer is B.

A company building factories in foreign countries, employing local labor and complying to that country’s cultural environment is in the global market. For example; Toyota Motors which started its business as a domestic marketer, exported its cars to regional markets, then shifted to multinational markets and now company is a true global marketer. Therefore, the correct answer is C.

The Olympic Games is a very big event for athlethes and it attracts millions of people from all around the world. This is basically events marketing, therefore the correct answer is D.

If the management or the owner of a hotel examines and determines the needs and wants of its guests and realises that there is a high demand between its guests to visit the local attractions and organises tours to make more profit, in terms of Marketing Process this is 'Understanding Needs and Want', therefore the correct answer is E.

Customer loyalty and retention, share of market, share of customer, customer equity are the main outcomes of creating customer value, however customer statistics is not related to it. Therefore, the correct answer is E.

The term market can have a number of meanings. It is used to refer primarly to the place where goods were bought and sold. It can also refer to a geographic area such as Turkish market. In some occasions, “market” refers to the relationship between the demand and supply of a specific product. A market is the cluster of actual and potential buyers of a product or service. These actual and potential buyers have a specific need or want that can be satisfied through exchange relationships. In a typical market-place, buyers and sellers come together to conduct transactions for their mutual benefit. As can be understood from the information given, the correct answer is E. All statements related to market are correct.

When an exchange takes place, buyers pay a certain amount of money in return. Industry with a collection of sellers communicates with the market through various integrated marketing communication tools including advertising, personal selling, public relations, sales promotion and direct marketing. Through such communication, sellers inform the market about their products, services, prices, main benefits, promotions, public relations of the businesses etc. As can be understood from the information given, the correct answer is E. The industry with a collection of sellers communicate with the market through all integrated marketing communication tools in the answer choices.

Markets are mainly divided into four categories as; consumer markets, business markets, global markets and nonprofit and governmental markets, so the correct answer is E. These markets are briefly explained:

Consumer Markets: Consumers are individuals who buy products or services for personal consumption. Since not all consumers are similar in terms of preferences, buying habits etc., marketers define their consumers’ characteristics through market segmentation based on demographic, psychographic, behavioristic and geographic criteria.

Business Markets: Business markets function differently than consumer markets. Their buying processes are particularly different. These markets consist of organizations that buy products or services for use in their own businesses or to make other products. For example, a dishwasher manufacturer might purchase steel, wiring, relevant equipment and so forth, as part of its final product from other parties in the business markets.

Global Markets: Companies realizing that they saturated in their local market have started to look for new opportunities in other regions of the world. Toyota Motors, McDonald’s, Adidas, or Nestle can be given as examples having global presence for many years. In global markets, companies focus on the selection and exploration of global marketing opportunities and utilize resources around the world for achieving competitive advantage. Toyota Motors started its business as a domestic marketer and then exported its cars to regional markets, then shifted to multinational markets and now company is a true global marketer building factories in foreign countries, employing local labor and complying to that country’s cultural environment. The companies in global markets face different requirements for buying and disposing of property, such as cultural, political differences as well as currency fluctuations.

Nonprofit and Governmental Markets: Nonprofit institutions are present for providing benefit to society and they are subject to different set of laws. Some educational institutions, charitable organizations and government agencies can be given as examples. For instance, Kızılay, Unicef or WWF offers different benefits to society. Kızılay provides aid for needy and defenseless people in disasters, Unicef specializes in promoting the practice of children’s rights. On the other hand, in governmental markets, the promised offering is reciprocated by tax offerings and other resources. Not only citizens, but also the stakeholders are influenced directly or indirectly by government legislation laws that are enacted.

Marketing mainly includes:

As can be understood from the information given, the correct answer is E.

Kotler and Armstrong listed five main steps for marketers to follow in their marketing processes as below:

As can be undwerstood from the information given, the correct answer is E. All steps in the answer choices are among the main steps listed by Kotler and Armstron for marketers to follow their marketing processes.

Understanding the market place and customer needs and want is the very first step of a marketing process. Firms firstly need to examine the main characteristics of the market(s) they serve and determine the basic needs and want of the customers.

The starting point for establishing a customerdriven marketing strategy is understanding the main customer groups (segments) and selecting target group(s) from these segments. Since the companies cannot serve all customers in every market, such efforts in segmenting the customers and choosing the target market(s) facilitate the development of customer-driven strategy.

Preparation of a marketing program that aims to deliver superior value to the customers requires hardwork. Such hardwork mainly includes the preparation of company’s marketing mix which consists of product/service decisions, promotion activities, place decisions, and activities.

Customer relationship management can be considered as the initial step in building profitable relationships with the customers. In today’s competitive marketing environment, where long-term relationships are important for achieving success, more is needed in order to satisfy customers over a long period of time.

Capturing value from customers to create profits and customer equity is the final step of a marketing process. This final step is about capturing value in return in the form of current and future sales, market share and profits.