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Stack #4169128
| Question | Answer |
|---|---|
| legally | health and safety laws tax structure employment laws |
| At the most basic level, a brand serves to _____ a seller. | Identify |
| One way to get a clear picture of how consumers view your brand is to build a _____ of their brand associations. | Brand Map |
| What type of retail store is divided up into departments of similar types of product lines? | department store |
| True or False: Price skimming is when a marketer introduces a product into the market at an initially low price then incrementally raises the price over time. | False |
| When looking to cast a wide net and target all age demographics, you should strongly consider having a presence on which social media? | |
| _____ help get the product to customers and can help fulfill functions such as sales and distribution. | intermediaries |
| Which factor in the external environment IS the customer base? | Social |
| This piece of the marketing plan answers the following questions: "Who are we? Why do we exist?" | Brand Identity |
| Which marketing metric type shows the business impact of the marketing's work? | Outcome |
| What are 5 ways to make retail stores more successful | make it an experience, add online/omni channel, add services, curate a product assortment/local, augmented reality/technology |
| what are the top 5 psychological pricing strategies | odd/ even pricing, prestige pricing/ extremity aversion, reference pricing, bundle pricing, loss |
| what are the steps of designing a PPC advertisement | define the audience/set the objective, set the objective, research keywords, build a landing page, create the PPC ad, set ad keywords bid, set targeting options |
| what are the top social media platforms | facebook, twitter, instagram, pinterest, snapchat, linkedin, youtube |
| why are channels needed | Differentiation, Access to New Markets, Economies of Scale, Efficiency, Creating Barriers to Entry |
| what are the three main functional of advertising | inform, remind/reinforce, persuade |
| Marketing Environment | The competitive, economic, political, legal and regulatory, technological, and sociocultural forces that surround the customer and affect the marketing mix |
| immediate environment (microenvironment) | includes intermediaries, employees, shareholders, customers, competitors, and suppliers; can directly influence a company's ability to market successfully |
| Imagine you are opening a new athletic retail shop nearby. What players in your immediate environment would you need to be aware of? | competition, employees(pricing (wages)), suppliers, customers |
| economic | per capita Gross Domestic Product (GDP) in a country disposable income per capita the employment rate exchange rate |
| environmental (natural) | raw materials available terrain of area natural disasters such as fires, hurricanes, floods or tornados climate and/or climate change |
| SWOT analysis | strengths, weaknesses, opportunities, threats |
| The added value delivered by the brand over the functional benefits or book value of the product, service, or company is | Brand Equity |
| Which of the following is NOT an industry term that describes the variation of products offered? Product reach Product depth Product width Product assortment | Product Reach |
| What represents the range of choice offered to the consumer within a particular classification of merchandise? | product assortment |
| _____ are the costs associated with the operating and marketing expenses of a company. _____ are the per-unit costs associated with the product. | Fixed costs;Variable cost |
| _____ is packaging two or more goods or services together to sell them for a single packaged price. | Bundle pricing |
| A company uses the _____ pricing strategy when it sells a popular item at an artificially low price. | loss leader |
| The various means by which promotional messages are communicated to the public using words, speech, and pictures is called _____. | advertising media |
| What are some practical ways to add emotions into promotional messages? Music Lighting Images | All |
| What is SEO? | Search Engine Optimization |
| What is the last step to a PPC ad campaign? | test the ad |
| Which social media platform has the largest user base of the traditional social media platforms? | |
| Which of the following is a benefit of social media marketing? Improving brand image Cutting marketing costs Improving customer service | all of these |
| Which one of the following is considered a general social media marketing tip? Remember to create and share value Remember to interact on social media Remember to represent your brand identity | all |
| Which of the following is a reason why direct channels are prevalent? Customers insist on it Sales process delivers value Customers are large | all |
| What factors encourage firms to opt for indirect distribution? Added value Market presence Order size | all |
| True or False: A team of sales representatives is an example of a channel. | true |
| Which external environment factor includes anything that affects innovation? | Technological |
| Which analytic process links marketing's work to revenue? | Real Analytics Process |
| What are the seven elements of the marketing mix? | Product, price, place, promotion, process, people, physical evidence |
| What is a type of search engines the book provides | google, Bing, Yahoo, Duck Duck go, Yandex, Ecosia |
| What are 6 types of retail stores | Big box, Supermarket, Department, Convience, Specialty, Discount |
| What are the components of the promotional mix | Sales promotion, Public relations, personal selling, direct marketing, advertising |
| what are the 6 components of the external environment | economic, environmental, legal, social, technological, political (PESTEL) |
| External Environment (macroenvironment) | includes the uncontrollable forces that affect the company and all actors in the immediate environment; the surrounding context in which business is conducted |
| Political | [political stability in general, trade and tariff policy] |
| social | demographic (marital status, age distribution generational differences in consumption religion and faith elements of culture |
| technological | computer processing speed wireless capabilities automation capabilities size of processor chips cell phone functionality |
| What is a legally protected brand name, brand mark, or a combination of these? | Trademark |
| True or false: A brand association map is a visual illustration that shows the different associations that a consumer has with a brand | true |
| True or false: A brand cannot carry negative equity | false |
| What is it called when marketers brand an entire group of products? Family branding branded house umbrella branding | all |
| _____ is the way that a company wishes to be portrayed. | Brand identity |
| True or false: a name is the only thing that makes a brand distinctive that can be trademarked | False |
| Brand awareness and brand differentiation can add value to the brand through Customers perceiving less risk in the product and choosing it Customer sharing product through word of mouth Customers paying a premium price All of these | all of these |
| What are all the details inside the retail store's physical environment that influence consumer behavior? | Retail atmospherics |
| True of False: Different store layouts cannot be combined or used together | False |
| Which of the following was NOT included in types of retail stores discussed in this chapter? Big-Box Store Department store Supermarket All of these were included in the chapter as types of retail stores | All |
| What DOES still draw consumers to a physical store? | experience |
| What is also called the merchandise mix? | product assortment |
| Types of retail stores are often distinguished by their ____ | Both product assortment and store size |
| What is it called when retailers make different purchasing options available to consumers? | Omni-Channel |
| The formula, Percent Change in Quantity Sold divided by Percent Change in Price, is used to calculate which pricing concept? | Price Elasticity |
| What is an added percentage or dollar amount added to the cost to determine its selling price? | mark up |
| With _____ pricing, a variable rate is used for each customer, often based on a product's or a service's demand. | dynamic |
| True or False: Dan Ariely describes a phenomenon he discovered called the third "decoy" option, which says adding an inferior option will make the original product more attractive. | true |
| True or False: With prestige pricing, elasticity in demand can be a positive number. This means when the price goes up, instead of demand decreasing, demand actually increases | True |
| Which one of these companies would be an example of using the price skimming strategy? Chick Fil A McDonald's Apple Walmart | Apple |
| What is an external communication that is paid for by the seller and promotes a product to potential customers? | advertising |
| What is a function of public relations? Manage publicity Build trust Promote positive brand image | All |
| In which stage of personal selling do you obtain the sale? | Close |
| Which of the following is an example of out of home advertising? | Billboards |
| True or False: Running last-minute ads is typically an option in magazines. | False |
| The number of people who are exposed to an ad, either by viewing a visual ad or hearing an audio ad are called _____. | Reach |
| What is it called when advertising reaches people who are not part of the target market and are not potential customers? | Waste Coverage |
| What are some examples of sales promotions used to encourage short-term sales? Gift premiums Contests Coupons | All |
| Providing a great user or visitor experience begins with _____. | Design |
| What are the links from external sites that occur because someone who found web content on the linked-to page useful? | Natural backlink |
| What occurs each time an ad is displayed? | Impression |
| Displaying ads to people who have visited your website is an advertising technique known as _____. | Remarketing |
| What is the rate of incidents called of someone visiting a single page and then exiting the site from that page without visiting other pages on the site? | Bounce Rate |
| What is a Google metric that considers keyword quality, ads, and landing page experience? | Quality Score |
| One of the most important elements of digital marketing is _____. | Search Engine Optimization |
| Clicks are usually a small subset of the number of _____. | impressions |
| True or False: YouTube is the second largest search engine behind Google. | True |
| Which social media platform is well-suited for personal branding for the job market? | |
| What social media trend basically means "adding to"? | Augmented Reality |
| Which social media platform is well-suited for causes that can be expressed visually and artistically? | |
| True or False: It is not possible to use one platform for one type of interaction and another platform for the same company to fill a different function | False |
| Which social media platform is well-suited for anything that can be planned for or given instructions for? | Pintrest |
| What is a path to market for goods and services? | Channel |
| In most cases, a distribution channel is a(n) _____ between the products a brand manufactures and the customers that buy the product | intermediary |
| True or false: Your company manufactures and sells a complex solution where a lot of expertise and value is delivered through company sales reps. Product margins are thin. For these reasons, you should use an indirect sales channel | False |
| True or False: Channels can create efficiency for consumers and brands. | True |
| Under what category does distribution through a single channel partner in a market fall on the spectrum? | exclusive |
| True or False: Customers purchasing patterns will always match a companies' preferred channel for selling its products. | False |
| True or False: Differentiation, access to new markets, economies of scale, efficiency, and creating barriers to competition are all reasons why channels are needed. | False |
| What includes all the forces that affect a company's ability to do business? | Marketing Environment |
| What is an example of an external environment force? Economic Social Political | All |
| True or False: Opportunities and threats are both internally focused. | False |
| What are attributes of a company that give it a competitive advantage or superior position? | Strengths |
| Which of these are NOT possible sources for external environment scanning? industry and government reports Employee and customer feedback, customer insight research Social media, trade associations, and magazines Personal or management intuition | Personal or management intuition |
| Which factor in the external environment includes all factors that influence the wealth or buying power of consumers | Economic |
| What is the first step for scanning the environment? | Observe |
| The key is that a marketer researches and thinks through all the elements in the marketing plan, _____ the market plan for each individual product. | Customizing |
| True or False: The marketing plan is grouped into sections. | True |
| When figuring out the _____ _____ part of the marketing plan, you ask these questions: "What is happening in the immediate environment? Are there any key players that might affect future company strategy?" | Situational Analysis |
| Positioning Statement Template: For (_____ _____), product/service is (concise description). It is ideal for (best use or application) because (primary benefit or differentiation). | Target Market |
| List one of the three categories for how marketing teams embrace analytics. Real analytics process No analytics process "Vanity" analytics process | All |
| Which class of metrics measure how well marketing got things done? | Efficiency metrics |
Created by:
alysonwest