South East Asian Institute of Technology, Inc.

National Highway, Barangay Crossing Rubber, Tupi, South Cotabato

Senior High School Department

Principles of Marketing 11
3rd Quarter Examination
Instructions: Read and understand every question. Answers in every item must have a minimum of 150
words and a maximum of 500 words. Every item is worth 10 points. Write your answer in a clean sheet of
paper or type it in MS word. Always do your best and God Bless you.
P.S. Submit your answer directly on my messenger account or to my email address
(sirsky_MPA@yahoo.com) on/or before February 24, 2021 @ 4 P.M.

MALABUYOC, Andrea Kate, A.

ABM 11

1.) Why does everything start with customers? Or is it only marketing that starts with customers?
Everything starts with a customer barely because marketing aims to comprehend and discern the
customer adequately the product or service fits him/her and sells itself. Marketing is practically the art
and science of earning and sustenance of efficient and beneficial customers. This imposes that you
entirely solve the problems and concerns of your market and are prepared to explain how you can help
them solve these problems. Marketing starts up and ends with the customer, from assuming customer
needs to contributing customer satisfaction. The fundamental objective of this matter is to provide you
with an awareness of the psychological foundations of consumer behavior. The impression of customer-
first is not different, but brands require to constantly stimulate their strategy to meet consumers’ shifting
demands. It is imperative to assess and determine what your customer motivators might be. Recall that
the product alludes to the customer if its price and place of selling are within reach or also if he heard that
the demand is high on it. Nonetheless of what business you're in or what kinds of products and services
you sell, your customer is the most significant part of your business. Without the customer, you don't
detect any sales. If you fail to take the customers' views into account in your marketing, it's inclined your
business will not be profitable.

2.) Why does marketing cost so much? Is marketing worth it?

Marketing is costly for one logical reason, it is for the reason that it's at the foundation of making
profits for all businesses. This may appear implausible to some, but marketing is not merely an
expenditure, and that is the science of marketing, captivating potential customers, and fulfilling
comprising customers. However, there are a ton of defenses for the increased expense of marketing, and if
you implement an adequate movement, you should be able to get a high ROI and further making all your
capital back. Although some categories of businesses can get through with little marketing, most
companies will profit from a marketing investment even if it looks expensive on paper. To market
something effectively puts up with a lot of research and promotional material to get it seen. Direct
marketing is directing on one component you are trained in. Most big companies use private advertising
agencies to do this for them. They facilitate a campaign to what their needs are and spend quite a lot of
money to have it advertised in areas that can be seen regularly. To be seen online also is going to take time
and effort plus an investment to produce the desired result. Whatever your campaign you are going to
need specific visitors who have an interest or desire to purchase your product. This can become costly and

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complex to achieve your goal. Rome was not built in a day and network marketing takes time, effort, and
failure, yes failure as it governs the mistakes you made and the experience to learn from them. All of these
are a few of the many reasons why marketing cost so much in this new era of innovation.

3.) Select an organization for which you would like to work. Look up its mission statement. What do you
think the organization’s objectives and strategies are? What environmental and internal factors might
affect its success?

The organization I want to serve for is Anchin, Block & Anchin LLP. They have a mission that
says “Our mission is to be the premier accounting and advisory firm passionately delivering expert
solutions to privately held businesses, investment funds and high net worth families.” Anchin is
unfailingly acknowledged as one of the promising accounting firms in the country, the best place to work
in New York City, and the best accounting firm to work for nationwide. Their quantity and culture enable
them to contribute to this entire extent of services while proposing personalized attention to the distinct
needs of our clients. Anchin’s professionals maintain being committed to providing technical expertise
and personal attention that their clients require. In addition, their goal is to chart a career improvement
route for their professionals and to cultivate them into well-rounded industry experts with accounting,
consulting, and tax experience. The firm provides heavily in their people, providing significant
opportunities for specialized industry training. This enables them to retain their people and significantly
reduce our employee turnover, maintaining one of the lowest rates in the profession. From my point of
view, they will only have problems when it comes to clients’ expectations. Before, accounting firms were
used to see as the service provider organizations only, but currently, clients are looking for value-added
services from them. Today, client want their CPAs to perform multiple functions for them like inventory
management services, payroll processing services, tax preparation services, valuable financial advice, and
customers support services. They want their accounting firms to offer a complete solution so that they
won’t have to look for any other service providers. This is a challenge for one accounting firm to perform
all the services as per the client’s expectations.

4.) You are interviewing for an internship. Create a value proposition for yourself that you may use as your
thirty-second “elevator speech” to get the company interested in hiring you or talking to you more.
When I visualized graduating, I never assumed that I’d be standing in front of such a prestigious
and socially-engaged company. My name is Andrea and it’s been my pleasure meeting you! I'm a grade 11
student at the South East Asian Institute of Technology who’s interested in accounting and business
management. I’m inquisitive in expanding beyond my academic background in the field of accounting and
business management. I’d cherish the opportunity to put my expertise and skill to work for your company.
I was enthusiastic to learn about this opportunity in the business management space—I’ve always been
passionate about the way accounting helped our current economic state and would love the opportunity to
bring my project management and leadership abilities to this position. Thank you in advance for sharing
information with me on your internship opportunities.

5.) Describe the buying patterns women exhibit versus men.

Commonly, women disagree with their opposite sex in practically all characteristic details, and
shopping is no peculiarity. Men are specific about the elements of a product they want to purchase, and
they correlate the same classification of products for specific elements and price. They are not conscious
of offers and brand names, and they negotiate for an increased price if they are pleased with the product’s
quality. Men tend to pursue a more logic-based strategy. On the contrary, women are specific about the
brand names. They usually are very careful of analyzing the brand moralities and determine their product
of choice according to that. Women are eager for offers and discounts to be availed and have a specific
interest in the composition of the product. Women are mostly hedonic shoppers. Women spend more

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when they’re younger, but men spend more as they age. Most women prefer to shop online with a desktop
while men prefer mobile. Men limit their search to particular products they have in mind at the time of
purchase, while women find other products apart from their intended shopping interest, as well. Both
sexes consider price as a factor to decide, but men tend to compromise easily with quality over price while
women are particular about price and close a purchase with the best available offer. Men tend to shop
mostly on food items and drinks when they are in a depressed mood. Women when in depressed mood,
they rely on retail therapy and shop clothes and related articles. Women, in common, possess a higher
percentage of charitable contribution compared to men, except when the contributor happens to be a
widow or widower. A widower is the one who contributes more generously than any other category.

6.) Why do people’s cultures affect what they buy?

Research indicates that culture and social classes are especially significant to consumer buying
behavior. Standards originated from cultural values and are widely held principles that assert what is not
preferable. Violation of cultural standards impacts social complaints to banishment from the group. A
person's culture has a big influence on their behaviors. Because it's so important how people comprehend
the world around them, their place in it, and how they make decisions, it inclines them to play a role in
determining how and why they consume goods and services. A society’s culture is a reflection of its
traditions, norms, values, and customs. The shopping habits of individuals are particularly shaped by
these factors. Not surprisingly, a change in any of these would cause a change in consumer behavior too. A
marketer can indeed attract the buyers, but he cannot control them as other factors affect the choices they
make. These choices, on the other hand, are dependent upon extrinsic factors such as culture. Culture
determines the consumer’s experiences, beliefs, and values, which in turn is directly linked to attitudes,
emotions, social norms, intentions, and behaviors. Personal culture represents the local area. For
instance, the people residing in several states in a specific area of South America have similar cultural
habits. Religious differences or similarities, on the other hand, are backed by aspects like common core
values, personalities, and customs, etc. Groups that influence the choice of consumers are typically sorted
into workgroups, shopping groups, friendship groups, and families.

7.) How is technology making it easier for firms to target potential customers?

Marketers have forever been trying to pin down what goes on in the mind of the customer.
Thanks to technology, now we have endless ways of knowing. Technology allows us to interact with our
customers, talk to them, and engage them more than ever. We can have one to one conversations through
social media channels, and give our customers a more personalized experience in multiple way and with
many devices. In fact, the basic role of technology in marketing boils down to helping marketers get a
better grasp on customer preferences, their behavior and purchase trends, and to design the most
effective marketing strategy based on this intelligence. In the future, marketers will be sought for their
knowledge of the tech space, as much as they are sought for their knowledge of PR and promotion.
Marketing success will depend on how well we can leverage mobile as the customer’s most preferred
method of consumption. The goal of your business in terms of its customer interactions is the generate
loyalty. There's no better way to do that than to offer quality products and services and to be responsive to
your customers. But as new technologies have come to market to make it easier for businesses to provide
customer service, they may also be increasing the number of channels through which you interact with
customers and the complexity of those interactions.

8.) Are small business owners at a disadvantage if they lack the marketing research resources large
companies have? Why or why not?

Understanding the importance of market intelligence is the difference between strategic,

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competitive organizations turning their ideas into profit and those playing a continual guessing game.
Before committing substantial resources, you must conduct intensive research into how customers will
respond to that endeavor. Market research is an integral step in a successful business development effort,
whether you are part of a startup, launching a new product or rebranding your business. When you skip
out on market research, even if you just have a small business, you miss valuable opportunities that will
help your business in the long run. Successful large business owners know their markets, understand their
competitors’ and customers’ wants and needs, and gather all the information necessary for their
businesses to be competitive. They know why people buy their products and services, not just when or
where. Neglecting to do market research can result in indecision and inaction, which can lead to
immobility. When launching a new product, effective market research will help you narrow down your
true marketability and your most inclined customers. Trends and consumer needs are ever-changing, and
when a business is indecisive because of a lack of knowledge about audience preferences, you may miss
the boat. Sometimes businesses skip the market research step because they simply do not know what to
look for or they don't know what's missing from their thought process. Therefore, it is a disadvantage for
small business owners if they lack marketing research resources.

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God Bless Always