Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Final Exam
Marketing BUS655
| Question | Answer |
|---|---|
| Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor. | Advertising |
| What are the following?: (1) Mission; (2) Money; (3) Message; (4) Media; (5) Measurement | The Five Ms of Advertising |
| What are the following?: (1) Product life cycle state; (2) Market share and consumer base; (3) Competition and clutter; (4) Advertising frequency; (5) Product substitutability | Factors to consider when deciding on the advertising budget |
| When are the following considered?: (1) Message generation and execution; (2) Creative development and execution; (3) Legal and social issues | Developing the Advertising Campaign |
| When are the following considered?: (1) Deciding on reach, frequency, and impact; (2) Choosing among major media types; (3) Selecting specific vehicles; (4) Deciding on media timing and allocation: (5) Evaluating advertising effectiveness | Deciding on Media and Measuring Effectiveness |
| The number of different persons or households that are exposed to a particular media schedule at least once during a specific period. | Reach |
| The number of times within the specified period that an average person or household is exposed to the message. | Frequency |
| The qualitative value of an exposure through a given medium (thus a food ad in Good Housekeeping would have a higher impact than in Fortune Magazine). | Impact |
| When are the following four main variables considered?: (1) Target audience's media habits; (2) Product; (3) Message; (4) Cost | When Choosing Among Major Media Types |
| A broad category including many creative and unexpected forms to grab consumers’ attention where they work, play, and shop. | Place Advertising |
| The following techniques are used in _____________ time: (1) Make messages stand out; (2) Be sure messages offer insight into what the brand stands for;(3) Don't make decisions soley on marketing research;(4) Target carefully;(5)Creative,engaging approach | Hard Times |
| Audience size can be measured by: __________number of physical units carrying the advertising. | Circulation |
| Audience size can be measured by: _________ Number of people exposed to the vehicle. | Audience |
| Audience size can be measured by: ____________Number of people with target audience characteristics exposed to the vehicle. | Effective Audience |
| Exposures appear evenly throughout a given period. | Continuity |
| Calls for spending all advertising dollars in a single period. | Concentration |
| Calls for advertising for a period, followed by a period with no advertising, followed by a second period of advertising activity. | Flighting |
| Continuous advertising at low-weight levels reinforced periodically by waves of heavier activity. | Pulsing |
| Seeks to determine whether an ad is communicating effectively | Communications-effect research (Also called copytesting) |
| The following is the formula for measuring _______________. Share of expenditures --> Share of Voice --> Share of mind and heart --> Share of market | Sales impact of advertising |
| A collection of incentive tools, mostly short term, designed to stimulate quicker or greater purchase of particular products or services by consumers or the trade. | Sales Promotion |
| The following are ______________ tools. (1) Consumer promotions; (2) Trade promotions; (3) Business and sales-force promotions | Sales Promotion Tools |
| The following are ___________________ objectives: (1) Attract new users; (2) Reward loyal customers; (3) Increase repurchase rates; (4) Attract brand switchers | Sales Promotion Objectives |
| The following are major sales promotion ________________. Establish objectives; Select tools; Develop the program; Pretest program; Implement control program; Evaluate results | Decisions |
| The following are major sponsorship ______________: (1) Choosing event opportunities; (2) Designing sponsorship programs; (3) Event creation; (4) Measuring sponsorship activities | Decisions |
| Experiential marketing not only communicates features and benefits but also connects a product or service with unique and interesting experiences. | Creating Experiences |
| Any group that has an actual or potential interest in or impact on a company’s ability to achieve its objectives. | Public |
| Includes a variety of programs to promote or protect a company’s image or individual products. | Public Relations (PR) |
| The following are _________ Department Functions: (1) Press relations; (2) Product publicity; (3) Corporate communications: (4) Lobbying; (5) Counseling | Public Relations (PR) |
| The following are major tools in marketing_________: (1) Publications; (2) Events; (3) Sponsorships; (4) News: (5) Speeches: (6) Public-service activities; (7) Identity media | Public Relations |
| The following are major decisions in __________ Public Relations: (1) Establish marketing objectives; (2) Choose messages and vehicles: (3) Implement and evaluate the plan | Marketing |
| The use of consumer-direct channels to reach and deliver goods and services to customers without marketing middlemen. | Direct Marketing |
| The following are ____________ Channels: Direct mail; Catalogs; Telemarketing; Interactive TV; Kiosks; Web Sites; Mobile Devices | Direct Marketing Channels |
| The following are __________ Decisions: Objectives-->Target market prospects --> Offer elements --> Testing elements --> Measuring success of lifetime value | Direct Mail |
| Call center used for receiving calls from customers. | Inbound Telemarketing |
| Call centers used for initiating calls to prospects and customers. | Outbound Telemarketing |
| The following are media for _________ Marketing: (1) Newspapers (2) Magazines (3) Radio (4) Television | Direct-Response Marketing |
| The following are Elements of Effective __________ and are known as the ____ Cs Specific Design Elements: Context-->Content-->Community-->Customization-->Communication-->Connection-->Commerce | Web Design; 7 Cs |
| The following are created by __________: Buzz Marketing; Viral Marketing; Opinion Leaders; Blogs | Word of Mouth |
| Generates excitement, creates publicity, and conveys new relevant brand-related information through unexpected or even outrageous means. | Buzz Marketing |
| Encourages consumers to pass along company-developed products and services or audio, video, or written information to others online. | Viral Marketing |
| Small groups whose members interact frequently | Cliques |
| People who belong to one clique and are linked to a person in another | Bridges |
| Regularly updated online journals or diaries. | Blogs |
| Firms generate leads and then qualify them by mail or phone to assess level of interest and financial capacity. | Prospecting and qualifying |
| The sales rep researches what the prospect needs, who is involved in buying decisions, and they buyer's personal characteristics and styles. | Preapproach |
| The rep tells the product story to the buyer using a features, advantages, benfits, and value approach. | Presentation and demonstration |
| Salepeople must handle objections posed by customers during the presentation or when asked for the order. | Overcoming objections |
| Attempting to close the sale. | Closing |
| Ensure customer satisfaction and repeat business, the rep should cement details such as delivery time and purchase terms immediately after closing. | Follow up and maintenance |
| The following are steps in designing a _____________: Sales force objectives --> Sales force strategy --> Sales force structure --> Sales force size --> Sales force compensation | Designing a sales force |
| consists of full- or part-time paid employees who work exclusively for the firm. | Direct Approach (Company Sales Force) |
| consists of manufacturers’ reps, sales agents, and brokers who earn a commission based on sales. | Contractual Sales Force |
| When a company sells one product line to one end-using industry with customers in many locations use_______ | Territorial Structure |
| A structure used when they sell many products to many types of customers. | Product or market structure |
| The following are examples of sales force __________: (1) Fixed amount (2) Variable amount (3) Expense allowances (4) Benefits | Sales force compensation |
| helps reps understand how they spend their time and how they might increase their productivity. | Time-and-duty analysis |
| Operates in two or more countries and captures R&D, production, logistics, marketing, and finance advantages not available to purely domestic competitors. | Global Firm |
| The following are ____________________: Deciding whether to go ahead --> Deciding which markets to enter --> Deciding how to enter the market --> Deciding on the marketing program --> Deciding on the marketing organization | Major Decisions in International Marketing |
| The following are the _______________ into foreign markets: Indirect exporting; Direct exporting; Licensing; Joint ventures; Direct investment | Five Modes of Entry |
| When companies work through independent intermediaries. | Indirect and direct exporting |
| Licensor issues a license to foreign firm to use a manufacturing process, trademark, patent, trade secret, or other item of value for a fee or royalty. | Licensing |
| When foreign investors join with local investors in which they share ownership and control. | Joint ventures |
| When a firm buys all or part of a local company or builds its own facilities. | Direct investment |
| Globally standardized, which keeps costs low, allows for brand image consistency, and enables the firm to leverage ideas quickly and efficiently. | Standardized marketing mix |
| Marketing program is adjusted to each target market. | Adapted marketing mix |
| must add the cost of transportation, tariffs, importer margin, wholesaler margin, and retailer margin to the product’s factory cost. | Price escalation |
| branded products are diverted from normal or authorized distribution channels in the country of product origin or across international borders. | Gray market |
| Distinct attitudes and beliefs about brands or products from particular countries. | Country-of-origin perceptions |
| Requires that everyone in the organization buy into the concepts and goals of marketing and engage in choosing, providing, and communicating customer value. | Internal Marketing |
| The most common marketing organization, consists of functional specialists who report to marketing vp | Functionally |
| When an organization is organized along geographical lines. | Geographically |
| Whne a company produces a variety of brands or products, they establish their organizaiton based on the products. | Product or brand |
| When a company sells to customers who fall into different user groups with distinct buying preferences and practices. | Market-Management Organization |
| Companies that produce many product flowing into many markets use this strategy | Matrix-Management Organization |
| Firms that go global have top corporate management and staff who plan worldwide operations | Global Organization |
| The process that turns marketing plans into action assignments and ensures that they accomplish the plan’s stated objectives. | Marketing implementation |
| Sales growth, market share, and sales from new products are examples of.... | Sales metrics |
| Awareness, preference, purchase intention, trial rate, and repurchase rate are examples of... | Customer readiness to buy metrics |
| Customer complaints, customer satisfaction, number of promoters to distractors, customer acquisition costs, loses, churn rate, lifetime value and customer equity are examples of.... | Customer metrics |
| Number of outlets, share in shops handling, weighted distribution, distribution gains, average stocks volume, stocks cover in days, are examples of.... | Distribution metrics |
| Brand awareness, effective reach, response rate are examples of.... | Communication metrics |
| (The control process) What do we want to achieve? | Goal setting |
| (The control process) What is happening? | Performance Measurement |
| (The control process) Why is it happening? | Performance Diagnosis |
| (The control process) What should we do about it? | Corrective Action |
| A comprehensive, systematic, independent, and periodic examination of a company’s (or business unit’s) marketing environment, objectives, strategies, and activities to identify problems and opportunities and to recommend improvements. | The marketing audit |
| Must know and observe laws | Legal behavior |
| Certain practices are unethical, they may be illegal or unclear. | Ethical behavior |
| LInks the firm's contributions to a designated cause with customers' engaging directly or indirectly in revenue-producing transactions - a part of corporate societal marketing. | Cause-related marketing |
| Stresses the importance of meeting humanity's needs without harming future generations. | Sustainability |
| All of the activities involved in selling goods or services directly to final consumers for personal, nonbusiness use. | Retailing |
| Narrow product line | Specialty store |
| Several product lines | Department store |
| Large, low-cost, low-margin, high-volume, self-service store designed to meet total needs for food and household products | Supermarket |
| Small store in residential area, often open 24/7, limited line of high-turnover convenience products plus takeout | Convenience store |
| Standard or specialty merchandise; low-price, low-margin, high-volume stores | Discount store |
| Leftover goods, overruns, irregular merchandise sold at less than retail. Factory outlets, independent off-price retailers. | Off-price retailer |
| Huge selling space, routinely purchased food and household items, plus services | Superstore |
| Broad selection of high-markup, fast-moving, brand-name goods sold by catalog at discount | Catalog showroom |
| Stages of growth and decline. | Retail life-cycle |
| New stores emerge after conventional stores increase services and raise prices to cover the cost. | Wheel-of-retailing hypothesis |
| allows customers to save money by carrying out their own locate-compare-select process | Self-service |
| Customers find their own goods, although they can ask for help | Self-selection |
| Carry more shopping goods and offer more services such as credit and merchandise-return priveleges | Limited service |
| Salespeople are ready to assist in the locate-compare-select process. | Full service |
| tores with a broad product assortment and high value added; they pay attention to store design, product quality, service, and image, and they enjoy high margins | Bloomingdale's |
| Stores with a narrow product assortment and high value added; they cultivate an exclusive image and tend to operate on high margin and low volume. | Tiffany |
| arrow line and low value added, keep costs and prices low by centralizing buying, merchandising, advertising, and distribution | Sunglass Hut |
| Low value-added, keep prices low to create an image of being a place for bargains, and they make up for low margin with high volume | Wal-Mart |
| door to door | Direct selling |
| direct-mail/catalog/telemarketing | Direct marketing |
| soft drinks/candy/newpapers | Automatic vending |
| storeless retailer serving a specific clientelle | Buying service |
| Two or more outlets owned and controlled, employing central buying and merchandising, and selling si | Corporate chain store |
| A wholesaler-sponsored group of independent retailers engaged in bulk buying and common merchandising. | Voluntary chain |
| Independent retailers using a central buying organization and joint promotion efforts | Retailer cooperative |
| A retail firm owned by its customers. Members contribute money to open their own store, vote on its policies, elect a group to manage it, and receive dividends | Consumer cooperative |
| Contractual association between a franchiser and franchisees | Franchise organization |
| A corporation that combines several diversified retailing lines and forms under central ownership, with some integration of distribution and management | Merchandising conglomerate |
| The following are _________ options for retailers: (1) General business district; (2) Regional shopping center; (3) Community shopping center; (4) Shopping strip; (5) Location within a larger store | Location options for retailers |
| One developed by retailers and wholesalers. | Private label brand |
| Unbranded, plainly packaged, less expensive versions of common products. | Generics |
| All the activities in selling goods or services to those who buy for resale or business use. | Wholesaling |
| Independently owned businesses that take title to the merchandise they handle. | Merchant wholesaler |
| Carry stock, maintain a sales force, offer credit, make deliveries, and provide management assistance. | Full-service wholesaler |
| Cash-and-carry wholesaler sell limited line of fast-moving goods to small retailers for cash. | Limited-service wholesaler |
| Facilitate buying and selling, on commission of the selling price. | Brokers and agents |
| Wholesaling operations conducted by sellers or buyers themselves rather than through independent wholesalers. | Manufacturers and retailers branches and offices |
| Agricultural assemblers, petrolium bulk plants, ect... | Specialized wholesalers |
| Starts before physical distribution, covering procurement of inputs, conversion into finished products, and product movement to final destinations. | Supply Chain Management (SCM) |
| Planning the infrastructure to meet demand, then implementing and controlling the physical flows of materials and final goods from points of origin to points of use to meet customer needs at a profit. | Market logistics |
| Include materials management, material flow systems, and physical distribution, aided by information technology. | Integrated Logistics Systems (ILS) |
| Shortening the order-to-payment cycle through.... | Order processing |
| When manufactuers store finished goods until they are sold... | Warehousing |
| Represents major costs and builds up when decrease in sales. | Inventory |
| Affects on time delivery... | Transportation |
| The means by which firms attempt to inform, persuade, and remind consumers—directly or indirectly—about the products and brands they sell. | Marketing Communications |
| Profile the target audience in terms of brand knowledge. | Image Analysis |
| Establish a product or service category as necessary to remove or satisfy a perceived discrepancy between a current motivational state and a desired emotional state. | Category need |
| Ability to recognize or recall the brand within the category in sufficient detail to make a purchase. | Brand awareness |
| Evaluation of the brand's perceived ability to meet a currently relevant need. | Brand attitude |
| Self-instructions to buy the brand or take buying-related action. | Brand purchase intention |
| Management searches for themes, appeals, or ideas that tie into the brand positions. | Message strategy |
| This is how marketers translate their messages into a specific communication | Creative strategy |
| When a message is delivered by a popular or attractive person | Message source |
| Elaborates on attributes or benefits. | Informational Appeal |
| Elaborates on a nonproduct-related benefit or image. | Transformational Appeal |
| The following are ___________: (1) Expertise; (2) Trustworthiness; (3) Likeability | Source Credibility |
| When managers set the promotion budget at what they think the firm can afford. | Affordable method |
| When firms set the promotion expenditures at a specified percentage of current sales, anticipated sales, or the sales price. | Percentage of sales method |
| When companies set their promotion budget to achieve share-of-voice parity with competitors | Competitive-parity method |
| When marketers develop promotion budget by defining specific objectives, determining the tasks that must be performed to achieve these objectives, and estimating the costs of performing these tasks. | Objective-and-task method |
| A concept of marketing communications planning that recognizes the added value of a comprehensive plan. | Integrated Marketing Communications (IMC) |
Created by:
saxdoctor