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MKTG 250 Exam 4
| Question | Answer |
|---|---|
| Fast Fashion | Trending clothes at low prices |
| Retailing | all activities involved in selling, renting and providing products and services to consumers |
| Level of service | The degree of service that is provided to a customer from 3 types of retailers self, limited, full service |
| Hypermarket | form of scrambled merchandising consisting of a large store that offers everything in a single outlet |
| Scrambled merchandising | consists of offering several unrelated product lines in the same store |
| Depth of production line | store carries large consortment of each product |
| Intertype competition | competition between very dissimilar types of retail outlets that result from scrambled merchandise |
| Non-store retailing | Vending machines and online retailing |
| Direct selling | personal interactions in homes and offices |
| Retailing Mix | Activites related in managing the store and merchandise in the store |
| Off price retail | consists at selling brand name products at lower prices |
| What is the future gonna begin using for data analysis and store development? | AI |
| Central business district | oldest retail setting, usually located in the communitites downtown area or main street |
| Regional shopping centers | retail locations that consists of 50-150 stores that typically attract customers who live within a 5 to 10 mile radious |
| community shopping center | retail location that typically has one primary store and often 20-40 smaller outlets |
| strip mall | retail location consisting of a cluster of neighborhood stores to serve people in the area |
| power center | huge shopping strip with multiple anchor stores |
| multi channel retailers | multiple ways to sella product |
| shopping marketing | use of displays, coupons, samples, and brand communications to influence shopping behavior. |
| Interactive marketing | the two way buyer - seller electronic communcation in which the buyer controls the kind and amount of information recieved from the seler |
| choiceboard | internet enabled system that allows individual customers to desigh their own product and services |
| collaberative filtering | process that automatically groups people with similar buying intentions, preferances, and behaviors to predict future purchases |
| permission marketing | consumers consent to receive emails and ads (opt in and opt out |
| What are the seven c's | context, commerce, connection, communication, content, community, customization |
| online customers | internet users who employ the technology to research products and services and make purchases |
| what are the six c's of why consumers shop online | convenience, choice, customization, communication, cost, control |
| eight second rule | view that customers will abandon their efforts to enter and navigate |
| dynamic pricing | practice of changing prices for products and services in real time in reponse to supply and demand conditions |
| cookies | computer files that a marketer can download onto a computer and mobile phone of an online shopper who visits the marketers website |
| behavioral targeting | uses information provided by cookies for directing online advertising from marketing to those online shoppers whose behavioral profiles suggest they would be interested in advertising |
| Social commerce | use of social networks for browsing and buying |
| Cross-channel | a consumer who shops online but buys offline or vis versa |
| Subscription commerce | payment of a fee to have products and services delievered on recurring schedule |
| showbrooming | shops in store but buys online |
| webbrooming | shops online but buys in stores |
| social media | consist of online media where users submit comments, photos, and videos |
| Social network | where users interact with each other. |
| Influence marketing | influencer marketing is promoting a company product or service |
| Social shopping | Shares about what we watched online |
| uses likes | |
| uses filters | |
| x | uses tweets |
| pineboard style photots | |
| youtube | uses subscribers |
| tiktok | 43% of marketing plan to increase use of this app |
| uses professional profiles | |
| customer engagement | degree and depth of brand |
| promotional mix | combination of one or more communcation tools |
| integrated marketing communications | concepts of designing marketing communications programs that cordinate all promotial activites |
| Five elements of promotional mix | advertising, selling, public relations, sales promotion, and direct marketing |
| advertising | any paid form of nonpersonal communication about an organization, product, service or idea by an identified sponsor |
| public relations | form of communication management that seeks to influence the feeling, opinion, or beliefs about a company and its products or services |
| sales promotion | short term, inducement of value offered to arouse interest in buying products or services |
| push strategy | manufactor aims promotion to channel member to set them to order and stock the product |
| pull strategy | manufactor aims promotion to consumers to get them to ask for the product |
| Hierarchy of effects | sequence of stages a prospective buyer goes thru from initinal awareness to eventual action |
| Direct orders | results of a direct marketing offer that contains all the information necessary for a prospective buyer to make a decision to purchase and complete transaction |
| lead generation | result of a direct marketing offer designed to generate interest in a product or service and a request for additional information |
| traffic generation | outcome or a direct marketing offer designed to motivate people to visit a business |
| product advertisement | das that focus on selling a product or service and which take s forms power, competitve, reminder |
| Institutional advertisement | ads designed to build goodwill or an image for an organization rather than promote a specific product or service |
| Fear appeals | avoid negative experiences |
| Sex appeal | increase attractiveness |
| humerous appeal | fun and exciting |
| uses sound, print, picture and motion for affect | Television |
| short exposure time and perishable message | Television and Ratio |
| Ratio | targets very specific target markets |
| Magazines | Long life of ads |
| Newspapers | great coverage of local market |
| Internet | video and audio capability |
| out of home | billboards, local market focus |
| coupons | deals at register |
| deals | offers, buy one get one |
| premium | gift with purchase exp happy meal |
| loyalty programs | sign up with contact info |
| product placements | products in movies or games |
| Personal selling | the two way flow of communication between a buyer and seller designed to influence purchase decision |
| sales management | consists of planning the selling program and implementing and evaluating the personal selling effort of the firm |
| Relationship selling | practice of building ties to customer based on salespersons attention and commitment to customer needs over time. |
| order taker | process routine orders to reorder for products that were already sold by a company. |
| order getter | sells in an convinence sense and identifies prospective customers process the reorder |
| who has more training and product knowledge? | order getter |
| stimulus response presentation | sales presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy |
| formula selling presentation | presentation format where information must be provided in a accurate, thorough step by step manner to inform prospect also called canned sales |
| need satisfaction presentation | listening to identify the needs and interest of the buyer |
| what are 3 closing techniques | trial, assumotive, urgency |
| salesforce automation | use of various techniques to make the selling function more effective and efficent |
| selling, renting, and providing products for consumers for personal, family or household is | Retailing |
| what are the key things you need to know about merchandise lines | breadth and depth |
| all of the following are forms of nonstore retailing expect | factory outlets |
| the oldest retail setting, located in the communitys downtown area is | the central business district |
| a supercenter is a | store that combines typical merchadise store and full size grocery store |
| automatically grouping people with similar buying intentions, preferences, and behaviors | collaborative filtering |
| a consumers consent to recieve email and advertising based on personal data supplied by a consumer is called | opt-in |
| marketers produce a customer experience through seven website design elements, including which of these? | communication |
| the six reasons consumers shop and buy online are? | convenience, choice, customization, communication, cost, and control |
| a single social media site with millions of users interacting with each other is referred to as | social network |
| advantage of twitter is | short message length |
| active reciever who sents messages to his/her online friends about the brand is reffered to as | evangelist |
| what is IMC | integrated marketing communications |
| what includes advertising, personal selling, sales promotion, and public relations | promotional mix |
| which of the following would be least likely to be used for mass selling? | personal selling |
| a restaurant review published in the local newspaper is an example of | publicity |
| To inform is which part of product life cycle | introduction |
| any paid form of nonpersonal communication about an organization, product, service, or idea is | advertising |
| the number of different people or households exposed to an advertisement is referred to as | reach |
| the sign at a store reads " buy one shirt get one equal or less value for dollar" | deal |
| a sales promotion prominetely displayed in a store aisle is called a ______ display | point of purchase |
| objective of a _______ is to inform a newspaper, radio station, or other media of an idea for story | new release |
| personal selling requires the ______ flow of communcation between a buyer and seller | 2 - way |
| building ties to customers with a salespersons commitment to customer needs over time is | relationship selling |
| an order getter | all of the above |
| sales activites occuring before, during, or after a sale itself is reffered to as | personal selling process |
| a memorized, standard message coveyed to every prospect is referred to as a | canned sales presentation |
Created by:
SWiedeman